SELLING HOUSE (YOU ARE THE SELLER)
OFFICE VIRTUAL VISIT
TESTIMONIALS
–Annie, a Client in EB-5 Investment Immigration (2012)
–Ms. Liu, a Client in Real Estate (2006)
–Mr. Zhang, a client in China Practice (2013)
PRACTICE AREAS
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Selling House (you are the seller)
- Seller signs commission / agency agreement with broker unless you sell the house by yourself without using a real estate agent;
- Seller retains an real estate Attorney after having a potential buyer or a binder is provided by the real estate agent;
- Seller’s Attorney prepares contract and sends to Buyer’s Attorney for review;
- Seller’s Attorney receives four copies of the contract signed by Purchaser with contract down-payment (usually 10% of the contract price) from Buyer’s Attorney, and deposits into Attorney’s escrow account;
- Seller signs the contract with his/ her attorney and two copies of the executed contract of sales is delivered back to buyer’s attorney; Contract is formed;
- Seller, through his attorney, after receiving the loan commitment letter from buyer (if there is a mortgage contingency clause), and the title search report, shall:
- Clear any problem in the title search report, if any;
- Order payoff letter from his /her current mortgage bank, if any;
- Prepare transfer forms;
- Order final meter reading for water, and oil, if any;
- Provide lists of check cutting to Buyer’s attorney;
- Provide a final inspection chance to buyer prior to closing;
- Closing. Seller shall be present at the closing table;
- On the scheduled date and time, Seller shall attend the closing unless a proper Power Of Attorney (POA) is used;;
- With proper ID;
- Do adjustment on real estate tax, water / sewer charges, etc.
- Deliver the keys and provide other information such as utility provider to the purchaser;
- Sign the documents which may include deed, ACRIS form, pay to real estate transfer tax and other fees as required via title company and
- Receive your final balance payment.
