Understanding the Buying and Selling Process

Buying or selling a home? Even if you are already in the process of buying or selling, this report has been designed to help you understand what happens from the time a contract is signed until the checks are signed and the keys are handed to the new owner.

By knowing what happens during this process, you will avoid any surprises. And, by understanding, you will know why things are happening and when they should occur.

The Buying Process

So let's start with the buyer. You begin by selecting a real estate professional to help you buy a home. ABEK Real Estate will help you narrow down the available properties to those that best meet your needs. They are even available to help you meet with a loan officer to begin the loan approval process.

Once you are pre-qualified for a loan, ABEK Real Estate will help you inspect the homes you are considering. When you have made a final selection, ABEK Real Estate will generate all of the necessary contracts and paperwork and present them to the seller's agent on your behalf.

If the seller offers a counterproposal, ABEK Real Estate will discuss it with you and generate your written response to the seller. Everything will be documented in writing to ensure that there are no misunderstandings.

Once the offer is accepted by the sellers, you will be responsible for forwarding any earnest money to ABEK Real Estate's office. They will make sure that the earnest money is forwarded to the appropriate agent or entity in accordance with the terms of the contract. They will also help you arrange for finalization of your loan application, a title search, an appraisal, and an inspection of the property. The property inspection will identify any structural, roofing, plumbing, and/or electrical problems that might impact your purchase of the property.

Your contract will normally provide a clause that the contract is contingent upon an appraisal, title search, loan approval, and/or the inspection. These are all designed to protect you and your potential investment in the property.

Once all of these items have been completed, you will move toward the closing process. Prior to the actual closing, you will receive copies of the settlement sheets. These settlement sheets will outline the costs for which you are responsible and will let you know what funds, if any, you need to have available at the actual closing.

If you desire, a pre-closing inspection of the property will occur either the day of or day prior to closing to make sure that the property is in acceptable condition. And, finally, the moment you have waited for. Once all of the paperwork has been signed by the sellers and by you and funds have been transferred, you will receive the keys to your new home! And, because you selected ABEK Real Estate to help you, this entire process will have been as smooth as possible.

The Selling Process

The process for a seller is very similar to the buying process once a contract is received; the difference is that ABEK Real Estate is representing your interests as a seller of the property.

So what happens when you list your property with ABEK Real Estate? The first thing you will do is to sign all of the necessary paperwork. This includes a listing agreement that outlines the terms of the listing contract between you as the seller and ABEK Real Estate as your real estate professionals.

Once the paperwork is signed, ABEK Real Estate immediately puts into action a very effective marketing plan. Your home is immediately placed in the Multiple Listing Service for other agents to see, your property is highlighted in flyers, in postcards to your neighbors, newspaper advertising (where appropriate), a page on our Internet site, and much more! This marketing plan is customized for your property, your timeline for selling, and the current market conditions. The ABEK Team meets frequently to discuss what is happening with your property, who is the most likely buyer, and what other marketing ideas might work to sell your home in the fastest time, at the best price, and with no hassles for you.

Each time an agent shows your home, ABEK Real Estate will contact that agent to obtain feedback. Feedback from showings and from open houses conducted especially for agents who might show your home will be forwarded to you. You will also receive periodic updates on current market analyses. All of this is information you need to help you sell your home in the shortest amount of time.

Once a buyer makes an offer, ABEK Real Estate will review, and in some instances, generate all of the necessary contracts and paperwork and present them to you. The ABEK Team will be available to help you understand what is included in the offer. They will also generate any counterproposals you wish to submit to the potential buyers. Everything will be documented in writing to ensure that there are no misunderstandings.

Once the offer is accepted by you, the buyer's earnest money will be forwarded to ABEK Real Estate's office. ABEK Real Estate will make sure that the earnest money is deposited at the title company to ensure that the funds are good and in the appropriate escrow account until closing. A title policy will be ordered, copies of the property disclosure will be forwarded to the buyers, and right of first refusal procedures will begin (if applicable). ABEK Real Estate will make sure that every commitment you have made in the contract is taken care of in a timely and efficient manner. The contract will normally provide a clause that the contract is contingent upon an appraisal, title search, loan approval, and the inspection. ABEK Real Estate will communicate with the buyer's agent to determine if there are any concerns or situations of which you should be aware.

Once all of these items have been completed, you will move toward the closing process. Prior to the actual closing, you will receive copies of the settlement sheets. These settlement sheets will outline the proceeds you will receive at the closing as a result of this sale.

And, finally, the moment you have waited for. Once all of the paperwork has been signed by the sellers and by you and funds have been transferred, you will receive the proceeds from the sale of your home! And, because you selected ABEK Real Estate to help you, this entire process will have been as smooth as possible.

So regardless of whether you are buying or selling, ABEK Real Estate can help you every step of the way. Call them today at (985) 646-2111 or (877) 754-3355. Or, if you prefer, you can send an email to info@abek.com . You can also visit their Internet site at www.abek.com .

ABEK Real Estate looks forward to talking with you and “helping you make all the right moves."