Contract to Closing Process for Sellers

Some of the services we provide for our selling clients are listing, marketing and selling their home until a buyer offers a purchase contract. Once that is done, our sellers can typically breathe easy. However, not the REALTORS® at The Archibald Group. There are more than 50 tasks and deadline deliveries on a normal residential seller-side real estate transaction checklist; and we take our responsibilities seriously while processing all documents and meeting all contractual deadlines.
  • Title – We work closely with the Title company to make sure that all documents and deliveries are processed in a timely manner. We work with our sellers to examine all of their Title and recorded documents to uncover any material defects and items of importance. Though this is normally of more concern to the buyer, sellers must respond to their objections, so it is important to know what is recorded in the documents.
  • Inspections, Survey & Appraisal – One of our services is to coordinate access for inspectors and appraisers, and to accept deliveries of reports as well as any objections or correction requirements from the buyers. Every instance of delivery of an inspection and/or buyer objections requires a response from the seller, and there are deadlines associated with each one.  We stay on top of these deadlines, ensuring reports are delivered on time, and responses are completed within the contractually mandated time lines.  Failure to do so could obligate the seller to make repairs or other corrections, or could result in forfeiture of the purchase contract. We take these tasks seriously to ensure a successful transaction process.

 

  • Repair Negotiations – If the buyer submits requirements for corrective actions, The Archibald Group works diligently with our sellers to determine the cost of those requirements. We help our clients draft a response that is appropriate and necessary to keep the deal progressing in a way that is beneficial to our clients. Should our sellers agree to make certain repairs, there will be deadlines associated with completion. There may also be requirements for the buyer’s inspector to return and re-inspect for completion and repair quality. We keep all of this on track for our clients, and can also recommend contractors who do high quality work at fair prices.
  • Lender Document Coordination – One of the leading causes of a delayed closing is a problem with the buyer's  funding due to last minute requirements or other document demands from the lender. We continually monitor all document flows to make sure this does not happen to our sellers. One of our tasks is to stay on top of the buyer's documentation requirements as they step through the lending process, so that they will be able to close on time. Mortgage problems crash a lot of deals, so we committ to being involved in the buyer’s lending process in order to protect our sellers.