Residential Real Estate
Professional Real Estate Agents
Now let’s take it to closing! By Judy Kunzman Let’s do a quick recap! So far, we have discussed getting your home ready to sell and what is involved in that process as well as the process of buying a home! At the end of the previous article, we had just negotiated a purchase contract. What do we expect now? During your contract negotiations, your real estate agent should have asked for an option period. This is usually a ten day time frame (which is purchased by the buyer) in which you can have any inspections performed that are relevant to your property, such as a home, pest, pool, septic, or even foundation inspection at your expense. Once these inspections are performed, you, as the buyer, can evaluate your inspections and determine if there are any areas of concern. The most important aspect to consider is if the major areas of the home are functioning.....HVAC, roof, built-in appliances, water heater, septic system, electrical, plumbing. If any of these areas are not functioning, then you and your realtor can decide what repairs should be negotiated. If there is an area that truly alarms you, then because you purchased the option period, you can opt out. You would lose your option fee but would be able to receive your earnest money back as long as you are still within the option period.
231 Zambezi Lane 4/2.5/2 Bullard schools
$295,500
Once you “move out of option,” lenders and the title company, along with your agent, work very hard to make sure that all of the details of the transaction are completed so that you are able to close on time. Typically, it takes about thirty to forty-five days to close. Appraisals and surveys are ordered and loans head to the “final underwriting and approval” stage. If the seller agreed to do any repairs, these are also completed during this time. This stage of the process is very exciting! You are packing, getting ready to move, planning where your new furniture is going to be placed! Just remember, as hard as everyone is working to get you in your new home on time, things can happen that could bump your closing a day or two! Be willing to be flexible. No one wants to have to extend a closing....sometimes it is just unavoidable! Finally, your closing day has arrived! You are about to gain possession of your new home! You will meet your agent at the title company at a designated time to sign all of the documents that allow this transaction to come to an end. These documents will consist of your loan documents (if you are borrowing money for the purchase) and the title company documents. It typically takes about an hour for the buyer to sign all of the paperwork. As soon as everything is signed and the transaction has funded (meaning the money has arrived at the title company!), you will get the keys to your home! Remember, this is a very involved process that makes it easier on everyone if you have the representation of a licensed, real estate agent. We would love the chance to work for you!
6328 Ashmore Lane 3/2.5/2 gated community,
$312,500
South Tyler
1818 Tall Timber 4/3.5/3 Jack Elementary
$299,900
5714 Andover Drive
3/2/2 gated community Whitehouse schools
$184,900
Judy has been one of the top agents in East Texas since beginning her career in 1995. She has been recognized for her outstanding performance as a Top Listing and Selling Agent. She is a certified Negotiating Specialist and a certified Relocation Specialist. She currently works at Keller Williams Realty in Tyler where her team is the company’s #1 Team.
(903) 581-0111 • 6761 Old Jacksonville Hwy • Tyler, TX 75703 • jkunzman@kw.com September/October 2015| INMagTexas.com
85