What’s Involved in a Transaction?

There’s a lot more to buying and selling real estate than you may realize. It could take a little longer than you’re expecting. The transaction requires meeting several important contract deadlines and extensive communication between everyone involved. There are also several steps designed to protect you and everyone else involved.

A REALTOR® can guide you through these steps. With a REALTOR®, you can feel confident that a dedicated professional will answer your questions or refer you to trustworthy resources. 

These steps may include:

• An option period for buyers to hire inspectors to assess the condition of the property
• An appraisal to determine an unbiased value for the property
• A survey to determine exact boundaries of the property
• Working to obtain insurance on the home
• Working with a title company to ensure a clean title transfer and protect against future claims that the buyer isn’t the rightful property owner
• Awaiting receipt and review of documentation from homeowners associations and special-use districts
• Working with a lender to secure a mortgage.

Each of these tasks may take several days or more. They could require information or input from you as well.