Local, Independent and working Smart and Hard for our Clients since 2002. ¡Hablamos Español!
At RealtyFelix we structure the Sales Process to be as simple as possible without ever losing sight of the final goal: Getting you the most money for your property in the timeframe you want it!
Before anything else, we conduct a detailed interview with you to determine your needs since an investor selling an investment may have no real timeframe but someone moving overseas to start a new job may have a very strict timetable.
Based on the information gathered during our interview, we help you determine a competitive pricing strategy to optimize the timing/price equation and sign the appropriate contracts and diclosures. We also gather information from Home Owner's Association and Insurance providers for you. Photo shoot and sign up are ordered. Keysafe installation and MLS input is done all in close coordination you. Once everything is ready and only then....we go live!
By law, all offers need to be submitted to you. At RealtyFelix we submit all offers with an estimated Net sheet, which includes all the costs and shows approximately how much you should get at closing. That helps you decide if you want to accept, reject or counter the offer. The agent will help you negotiate the detailed terms to your full advantage. Terms include the purchase price, the closing date, what appliances convey with the property and many more. The entire structure of the Sale from here through close of escrow is determined by the commonly used Purchase Contract of the Arizona Association of REALTORS® (AAR).
When everybody agrees on the terms, in writing, the buyer's agent opens escrow, submitting the entire contract and depositing the buyer's earnest money check with the title/escrow company.
It is also at that time that the Inspection or Due Diligence Period starts. It is usually a ten day period in which the buyer is afforded access to the property with all the inspectors the buyer may choose. The Seller, YOU, during this time, are obligated to keep the utilities on, so the buyer has the opportunity to adequately inspect the home. During the Inspection Period the buyer may back out of the contract for almost any reason without risking to lose the earnest money.
The inspection period ends with the submission of the Buyer's Inspection Notice and Seller's Response (BINSR) by the buyer to the seller. In this document the Repairs are negotiated. The repairs the buyer and seller agree upon need to be done by the seller before close of escrow.
Assuming that the purchase is not a cash transaction, during the entire process the buyer is in touch with the lender to whom the buyer submits all the required documentation to obtain the loan. It is not until after the buyer and seller have agreed on the repairs and acceptability of the property however that the lender orders the appraisal of the dream home. Once the appraisal Comes in, the loan goes to final underwriting and the money, if there are no more conditions from underwriting, will be tranferred to the title escrow company.
Also during the entire process, the seller's agents monitor, that the buyers follow all rules and agreements as described above.
Final signing will take place at the title/escrow company. Close of Escrow is when the transaction records at the Recorder's office. After recording keys and remote controls are provided to buyer and the title/escrow company distributes the money and any pertinent documentation.