What to Expect From the Buyer
During the negotiation, buyer through their agent will sign and discuss any concerns or questions that will be forwarded to you through your agent. It is always best not to speak to the buyer directly. The listing agent representing you should only communicate with you and that agent should communicate with the other party. Why? In our experience, to many times there has been miscommunication or misunderstandings. It is better to have the agent representing you represent you.
Usually the first 17 days of opening escrow, the buyer may elect to come by the home to do a home inspection or any due diligence. If the buyer has a loan, an appraiser may come by and appraise the property. Also depending on the agreement, other inspectors like a termite inspector may come to the home. It is important to disclose all information, good and bad to the buyer and let them do any diligence on their end. The buyer may also ask if they can stop by with a contractor to measure flooring, window treatments, etc.
The final thing the buyer will do is a final walk thru a couple days before the end of escrow. It is a standard procedure that the buyer does a walk thru of the property and sees that it is in the same condition it was when they put in the offer to buy. So remember, don’t put any holes in the walls or take out anything that is connected to the house unless written in the contract. Any fixtures stay with the home. A good rule of thumb is “if it’s attached permanently to the house, it stays with the house.” Our agents can expand in more detail about this.
-KEY POINTS-
- Agree in the beginning to avoid problems later
- Be specific as possible as to what’s included or excluded from the sale
- Make sure the buyer is qualified to purchase the home
- Agreements may be amended later but all parties must agree
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Jump to other important steps in the process:
- Step 1: What’s Your Home’s Value?
- Step 2: How Much Will You Net?
- Step 3: How Should You Prepare Your Home?
- Step 4: What to Expect During the Sale?
- Step 5: What to Expect From the Buyer? (you are here)
- Step 6: When Will You Have to Move Out?
- Step 7: What if You Need to Purchase Another Home?
- Step 8: Get Started