When selling your home, understanding the steps to close a real estate sales deal is essential. At BluSkye Group, we simplify this complex process for homeowners in Marion County, FL, and surrounding Central Florida areas. Our goal is to ensure a smooth and successful transaction. Here’s a step-by-step guide to help you navigate the closing process.
Pending the Listing
- Notify MLS: Once an offer is accepted, the broker marks the property as pending in the Multiple Listing Service (MLS).
- Earnest Money Deposit: we ensure that the buyer’s earnest money is secured into an escrow account, ensuring compliance with legal requirements.
Choosing the Closing Company
- Forwarding the Contract: The seller’s broker sends the sales contract to the chosen closing agent.
- Document Presentation: The buyer’s broker provides any required condominium documents, HOA disclosures, and financials to the buyer.
Financial Arrangements
- Additional Monies: Any additional funds required by the contract are collected by the broker.
- Loan Application: The buyer applies for a mortgage within the time frame specified in the contract.
- Clearing Contingencies: Both buyer and seller work to resolve any contingencies outlined in the contract.
Inspections and Appraisals
- Property Appraisal: A certified appraiser evaluates the property to determine its market value.
- Loan Approval: The lender issues conditional loan approval, subject to meeting certain contingencies.
- Title Commitment: The seller requests a title commitment for the buyer, ensuring clear ownership.
- Property Inspections: Termite, property, and other required inspections are conducted.
Negotiations and Repairs
- Repair Negotiations: Any necessary repairs are negotiated or completed as stipulated in the contract.
- Survey Order: If needed, a property survey is ordered.
Final Preparations
- Insurance: The buyer secures hazard insurance (and flood insurance if in a high-risk zone) and forwards the policy to the closing agent.
- Closing Appointment: The closing appointment is scheduled with all parties involved.
- Closing Statements: Both the buyer’s and seller’s agents receive the final closing statements for review.
The Closing Day
- Final Steps: The buyer arranges payment, either via certified check or electronic transfer. The closing agent produces the settlement statement to ensure all monies have been accounted for and issues a Clear-to-Close.
- Closing Meeting: All parties meet to finalize the sale, sign documents, and transfer ownership. Although, closing can now take place remotely in the presence of a notary.
Why Choose BluSkye Group for Your Real Estate Needs?
At BluSkye Group, we are committed to making the real estate sales process as smooth and stress-free as possible. Our team of experienced professionals will guide you through every step to close a real estate sales deal, ensuring that nothing is overlooked.
Let’s start the process today.
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