I have been busy the last two weeks and have successfully listed my first home!! The listing is currently sitting nicely in “pending” status patiently waiting for our closing date next month.
I worked my database and connected with my client through a friend which, having that common association with the client helped to calm my nerves. I arrived at my listing appointment armed with information about the home, facts from the neighborhood and my fresh knowledge- I was ready to WOW this client! After our pleasant greetings we toured the home which was a beautifully updated 4-bedroom, 2.5 bath home in a nice subdivision in Lawrence- a city just east of Indianapolis. The seller of this home was eager to get the process moving so the listing agreement was quickly signed along with all the other required forms for selling a home and that was that… I had my first listing! I had a huge smile on my face the entire way home!
The next day I went back to the home to take measurements and photos of all the rooms and to write the property description for the listing. While I was there I also placed the “For Sale” sign in the yard and the lockbox on the door. After gathering all the information, posting it to the BLC and uploading the photos, the listing was ready to go live. I had scheduled an Open House to show the house the following Sunday- looking for a buyer for this home and hopefully my next client 😉
The day after the home was put on the market and listed in the Broker Listing Cooperative (BLC), we received a great offer- above asking price! There was a small issue with the original expiration of offer so after a counter offer and a revised purchase agreement were all signed we were one step closer to moving the status of this listing from “active” to “pending”.
Earnest money is a deposit paid by the buyer to the seller, held in escrow until closing. This money is used to show the seller that the buyer is serious about completing this transaction and can only be returned to the buyer under certain circumstances. So, after receiving notification that the earnest money had been transferred to the escrow account we were ready to get the transaction moving.
After a purchase agreement is accepted by the seller and is signed by both parties the next step is to schedule an inspection on the home. This step is one of the ways a deal could fall through- if there are any issues with the home that was not disclosed in the sellers disclosure, and the buyer and seller can’t come to an agreement to remedy the issues then the buyer could terminate the agreement.
So, the inspection was scheduled on this home and after waiting a day we were alerted that the buyer had agreed to purchase the home in its current condition- no issues with the inspection!!
Since our offer was a cash offer, an appraisal was not necessary to form the basis for a mortgage loan (on the buyers’ side) so we were able to skip this step- another way a deal could fall through.
So now we wait. The closing date is set for the middle of April and all the closing documents are being prepared between now and then. My seller is busy moving the rest of their belongings out of the home and I am working with the buyer’s agent making sure all necessary documents are getting signed and communication is flowing amongst all parties.
This has been a great experience and I have learned so much; I am loving this new career path!
By Stephanie Henderson, talktotucker.com/stephanie.henderson