THE TYPICAL OF PROCESS OF SELLING A HOME

THE TYPICAL OF PROCESS OF SELLING A HOME

Sellers have different options to publicize that their home is for sale. They may

·         List their house for sale with a real estate broker. The broker will then take charge of advertising the property and may market the home to try and sell the home. The broker may also list the property on a multiple listing service accessible to other brokers.

·         Some sellers choose not use a sales agent, but  prefer to sell their home on their own a.k.a. For sale by owner," or "FSBO," or

·          Other sellers like to keep their options open by creating an “open listing.” With an open listing the seller uses multiple agents and the agent that sells the property collects the commission.

 The buyers learn of the house listing directly, or through their relationship with a separate broker or sales agent, and decide to make an offer. The negotiations now begin. The parties continue to exchange offers and counteroffers until an agreement is reached. If there is a broker or brokers involved they will generally play a predominate role in the negotiations.

Most buyers need to obtain a mortgage, which is usually sought from an institutional or other lender. The lender may be a bank or savings association with which the buyer has a relationship, or one that is recommended by the broker. In order to qualify for a mortgage, the Lender may require the buyer/borrower to meet certain obligations in order to qualify for a mortgage. Some examples are to obtain a survey, an appraisal and roof and termite inspection of the property.  Title evidence and insurance is also required. The buyer’s financial position may be checked as well through a credit report employment verification and other documents to support their loan decision.

At the closing the ownership of the property is transferred to the buyer. The closing consists of delivery of documents to convey the property, payment of the purchase price, and settlement of other financial obligations as reflected in a closing statement. A title policy is issued shortly after the deed is recorded.

If you would like to hire a Florida attorney to assist you with your Real Estate Needs  contact Mendy Lieberman, Esq. mlieberman@sflatty.com, (855) S-FL-ATTY, (305)912-7789 Mendy Lieberman |The Lieberman Law Firm | Miami, Florida