How-to guides for real estate transactions
Are you thinking about buying or selling a home? If so, you’re likely wondering what the real estate transaction process looks like.
While every transaction is different, there are some general steps that most real estate transactions follow. In this blog post, we’ll outline the typical process for both buyers and sellers, so you know what to expect.
If you’re selling a home, the first step is to find a real estate agent. Your agent will help you determine the right price for your home and list it on the MLS (Multiple Listing Service).
Once your home is listed, you’ll start receiving showings from prospective buyers. Once an offer is made, you and the buyer will negotiate a contract. If everything goes well, the contract will be signed and the buyer will put down a deposit.
The next step is to schedule a home inspection. The buyer will hire a professional inspector to look for any defects in the home. If any major problems are found, the buyer may ask you to fix them or they may back out of the deal altogether.
Once the inspection is complete, the buyer will obtain financing and arrange for a closing date. On the day of closing, all of the paperwork will be signed and the buyer will pay the remaining balance of the purchase price. The keys will then be handed over and the transaction will be complete!
If you’re buying a home, the process will be similar, but reversed. You’ll start by finding a real estate agent and looking at homes that are for sale. Once you find a home you like, you’ll make an offer and negotiate a contract with the seller.
Once the contract is signed, you’ll schedule a home inspection and obtain financing. If everything goes well, you’ll close on the home and be the new owner!
The real estate transaction process can be daunting, but it doesn’t have to be. By working with a professional real estate agent, you can be sure that everything will be taken care of and that you’ll be able to focus on finding the right home for you.