Once you have accepted your desired offer, the next stage in the home sale process is closing the transaction. The closing process involves the successful undertaking of sale contingencies such as financing and inspection, as well as the satisfaction of lender requirements such as appraising the property and obtaining title insurance.

During this time, we collaborate with the various individuals and entities involved in the process to ensure that deadlines are met and your transaction is closed in an efficient and seamless manner. Closing usually occurs between 20 and 50 days following your acceptance of the buyer’s offer.

From the acceptance of your offer to closing, we carry out the following functions:

Escrow
After accepting the buyer’s offer we follow-up with the closing agent assigned to close your transaction to make sure that an escrow account has been established. We also ensure that the buyer’s agent has delivered all sale documents and disclosures to escrow.

Timeline
In order for you to understand the timing of the closing process, we provide you with a detailed timeline of the various events to occur during closing. Our timeline ensures that you will be fully informed of the various deadlines at each stage of the closing process.

Post-acceptance marketing
During the closing process, your home remains listed on the NWMLS and we actively market your home and accept back-up offers. A back-up offer is an offer made after your acceptance of another offer. A back-up offer is like an insurance policy in the event a contingency is not met or the buyer gets cold feet and decides to terminate his or her offer. Be advised, you may be entitled to receive the buyer’s earnest money in the event the buyer fails to comply with his or her contractual obligations following your acceptance of the offer.

Review post-acceptance documents
After the buyer has obtained an inspection, we carefully review the inspection report and offer you advice on responding to any requests by the buyer to modify his or her initial offer. We also review and explain the findings of your preliminary title report. If any title defects are discovered we work with you to resolve any such issues.

Updates
As events unfold in the closing process, we provide you regular updates on the satisfaction or failure of sale contingencies and other lender requirements required to be completed before your home sale can be finalized. Upon our receipt of documents from the buyer, escrow, title insurance companies or other third parties, we forward these documents to you for your review and comment. We also provide you with advice and seek your input in the event any problems arise with contingencies, appraisals or other events occurring during the course of the closing process.

Document execution
The last stage of the closing stage is to sign the sale documents. To facilitate the document signing, we coordinate your signing appointment and are available to attend your appointment with you.

Questions
We welcome your questions on the closing process. Please feel free to contact us anytime at: (206) 909-8777 (toll-free 1-800-206-6612), or by email at: info@navigationre.com.