Of the many steps you go through when selling your home, closing is by far the most complicated and stressful. While other steps of the process can be much easier and inexpensive without a real estate agent, such as advertising or holding open houses, closing is a very complicated process for an independent seller. In order to keep you focused during this hectic time, below are five important reasons to take closing seriously.
1. You Will Be Required to Complete Paperwork
One of the complicated issues with closing is the sheer amount of paperwork you are required to complete as the seller. Besides the typical paperwork that goes into making the formal sales agreement, you may also have to participate in a housing inspection, property inspection, or a groundwater test. Each of these processes requires extensive paperwork and the services of a notary. The volume of paperwork involved in the selling process is but one of the many reasons you must take closing seriously.
2. You Will Need to Hire an Attorney
With paperwork comes legally binding agreements, which are necessary evils when you sell your home. In addition, the selling of your home will require the correct movement of funds from the buyer to the seller. To ensure that these steps are completely seamlessly without any legal issues, you will likely need to hire an attorney. Your attorney will make sure that your paperwork is valid, and that the buyer is not attempting to scam you out of any required steps or money. In addition, they can ensure you are performing the closing process correctly to prevent the buyer from making a claim against you in civil court.
3. The Buyer May Attempt to Renegotiate
The closing process typically occurs after the buyer and seller have reached common ground on the value of a home and its surrounding property. While the buyer may have agreed to pay a previously determined price for your home, some attempt to renegotiate with you during the closing process. If this happens, you must be prepared to potentially deny the buyer or determine a new counter offer. Since closing is a stressful time, it is important that you take this step seriously so that the buyer does not attempt to take advantage of you financially.
4. You Will Have to Perform Extensive Research
While an attorney will help to ensure you are going about the closing process correctly, this does not mean you will not have to perform individual research on your end. Since real estate agents are given a formal education on the ins and outs of closing, you must make it your mission to study the same material to ensure you can competently close on your home as an independent seller. The more educated you are in the closing process, the smoother the process will be for you and your family.
5. Your Performance Will Determine the Future of Your Home
You must take closing seriously because it will ultimately determine the future of your home. If you have had trouble finding a buyer for your home, you cannot afford to let a potential buyer walk away from you during the closing process. This may lead to you having to keep your home, or worse, having to sell it for much less than it is actually worth. The more educated you are during the closing process, the more likely it will be that you can sell your home quickly and for the correct price.
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-701-2030 or visit https://josephlewkowicz.com/