Coldwell Banker Real Estate Group - Presentation - Page 23
ColdwellHomes.com
Accept an Offer
4
Repair & Appraisal
Negotiations
5
Move Out & Close
Even with a previously inspected
home, most buyers will have their own
inspection. The buyer will submit a
list of requested repairs and the repair
list will be negotiated. The seller is
responsible for making the agreed
upon repairs prior to closing.
3
Inspections and Repairs: It is a
best practice to have your home
inspected before listing the home
and correct any issues found. This
allows you to market the home as
inspected and repaired. Further, it
allows you to uncover any issues that
exist prior to accepting an offer.
Market your Home
Nationally, a significant number
of contracts typically fall through
during the repair negotiations or
because of appraisal issues.
Appraisals: If the buyer is purchasing
the home by obtaining a mortgage,
the lender will require an appraisal. An
appraisal is an opinion of value at a
specific moment in time. Recently, the
government has increased regulations
on the appraisal process and changed
parameters appraisers must use. With
these new regulations and with home
prices appreciating, low appraisal values
have become more prevalent. Should
the appraisal come in lower than the
agreed upon Purchase Price, the buyer
may not be able to get the loan they need
to purchase the home. Therefore, the
buyer and seller can agree to renegotiate
the purchase price. Some buyers may
be able to apply for a different loan or
contest the appraisal; however, each
situation is unique. Therefore, you need
to feel confident that your agent can
help you navigate this difficult situation
and outline your available options.
2
Once you reach an agreement, work
closely with your agent to understand
next steps and important dates.
Prepare Your
Home for Sale
Getting your home Under Contract is exciting…but you
are not done yet!
1
Repair and Appraisal
Negotiations
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