Selling House (you are the seller)

  1. Seller signs commission / agency agreement with broker unless you sell the house by yourself without using a real estate agent;
  2. Seller retains an real estate Attorney after having a potential buyer or a binder is provided by the real estate agent;
  3. Seller’s Attorney prepares contract and sends to Buyer’s Attorney for review;
  4. 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;
  5. 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;
  6. 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:
  7. Clear any problem in the title search report, if any;
  8. Order payoff letter from his /her current mortgage bank, if any;
  9. Prepare transfer forms;
  10. Order final meter reading for water, and oil, if any;
  11. Provide lists of check cutting to Buyer’s attorney;
  12. Provide a final inspection chance to buyer prior to closing;
  13. Closing. Seller shall be present at the closing table;
  14. On the scheduled date and time, Seller shall attend the closing unless a proper Power Of Attorney (POA) is used;;
  15. With proper ID;
  16. Do adjustment on real estate tax, water / sewer charges, etc.
  17. Deliver the keys and provide other information such as utility provider to the purchaser;
  18. Sign the documents which may include deed, ACRIS form, pay to real estate transfer tax and other fees as required via title company and
  19. Receive your final balance payment.