It is critical for clients to understand that service does not end when an able buyer is secured. To the contrary, keeping a sale on track and on schedule can be the difference between a smooth closing and one that does not happen. In addition to developing and implementing a marketing plan, the following should be the "Servicing the sale" plan:
1. Offer to Purchase -all offers should be presented to you in writing, with a check to bind the offer, in person whenever possible. The agent should not only present to you the offer price, they should discuss the terms of the offer and give as much financial background information about the potential buyer as possible. On your behalf, the agent should negotiate with the buyer or cooperating agents for the best terms and price for you, the client.
2. Home Inspection -once an offer is accepted the agent should schedule with the buyer(s) for the home inspection. The agent should be available at the inspection to represent you and answer any of inspector's questions concerning the property and the agent should provide you with all relevant feedback.
3. Purchase and sale Agreement -the agent should work closely with you and your attorney to coordinate the logistics of executing the document within the time period specified. the agent should place all deposit funds into my company's escrow account and have all funds and interest payments available at the closing.
4. Bank Appraisal -once the buyer has begun their loan application the agent should coordinate with the lender to accompany the appraiser to the property. The agent should provide the appraiser with all pertinent information about your property and the agent should provide a list of recent comparable sale so as to substantiate the selling price of your property.
5. Smoke Detector Certificate -approximately 1 to 2 weeks prior to the closing the agent should make arrangements for the Fire Department to come to your property and issue a smoke detector certificate, as required by the State of Massachusetts for real estate transfers.
6. Final Water Bill - within 10 days of the closing the agent should complete a water meter reading and have a final water bill issued by the municipal water department. This will be used by the closing attorney to make accurate final adjustments.
7. Condominiums - if your property is a condominium the agent should coordinate with trustees and property managers to obtain any information required by the lender - condominium questionnaires or affidavits. the agent should obtain a 6-D certificate and an Insurance Certificate needed for the closing.
8. The Closing -the agent should notify all parties of the time and place, arrange any final walk through or any miscellaneous last-minute tasks.