Friday, May 31, 2024

What’s Involved In Closing On A House And How Long Does It Typically Take?

How Long Does The Typical Closing Take And What’s Involved?

 

For sellers, the closing process is the final, critical stage in a long and often emotional journey in selling their house. Understanding the complexities of closing and the normal timeline involved will help sellers navigate this period more easily and confidently. This article seeks to explain the procedures involved in closing from the seller’s perspective, providing insight into what to expect and how to effectively manage the process until your house is finally sold.

As a quick reminder – if you don’t want to have to wait on pins and needles waiting for the typically long and drawn out process of selling your home, give a call or contact us. We can close in just a few days, or on your timeline! Now, on with the show!

 

 

Pre-Closing Preparations

There’s actually a lot that happens when selling the traditional method using an agent with your typical home buyer.

  •    Buyer’s Have To Secure Financing

As a seller, waiting for the buyer to obtain financing can be stressful. The process begins with the buyer obtaining mortgage pre-approval, which provides an initial indication of their purchasing power. Once pre-approved, the buyer must complete their loan application, which can take some time and is subject to a variety of restrictions and lending criteria. Sellers must be patient during this process, as any delays or financing concerns may effect the closing date.

  • Home Inspections

Another essential step in the process are home inspections, which often leaves sellers waiting. The buyer will organize and carry out inspections to verify the property is in good shape. This will reveal any necessary repairs or issues that were not previously reported. Sellers must be ready to address these issues, which may include making repairs or renegotiating the sale terms. This stage can be very stressful because it may impact the ultimate sale price and timing.

  • Appraisals

Once all inspections are complete, the buyer will request an appraisal to assess the property’s market value. This is an important step for the lender to ensure that they do not lend more than the property is worth. Sellers must wait for the appraisal report, which may turn up as some unwanted surprises. Understanding the appraisal report and its ramifications is critical, because a poor assessment might result in renegotiations or even the cancellation of the sale. This waiting period might be stressful, but it is an essential part of the process to ensure a fair transaction for all parties involved.

  • Title Search

The title search is an important yet nerve-racking stage in the closing process. The title search ensures that the property’s title is free of any liens, disputes, or legal concerns that could jeopardize the sale. This entails a thorough review of public records and legal documents to ensure the seller’s right to transfer ownership. Sellers must wait for this thorough review, which may discover unanticipated difficulties such as unpaid taxes or prior liens against the property. Resolving these title difficulties is critical to moving forward with the sale, and sellers frequently find themselves in a holding pattern until any “cloud” on the title is remedied, adding to the stress of the closing process.

Closing Day Is Drawing Near

After all of the above has gone through, closing day is getting closer and you can see the light at the end of the tunnel. But Wait! There’s still more to go! More nerve racking stuff that could cause your sale to fall through – The Final Walkthrough! The final walkthrough is crucial for the buyer to ensure that the property is in the agreed-upon condition prior to closing. This walkthrough provides an opportunity for the seller to confirm that all contractual duties have been satisfied, such as making agreed-upon repairs and preserving the property’s condition. Sellers must prepare for this walkthrough, realizing that it is the buyer’s final opportunity to identify any faults before to the official transfer of ownership.

  • Seller’s Prep For Final Walkthrough

As the seller, preparing for the final walkthrough entails making certain that all repairs and maintenance activities have been completed to the buyer’s satisfaction. This involves ensuring that all appliances are operational, fixtures stay in place, and the property is clean and clear of debris. Furthermore, all personal stuff should be removed unless otherwise agreed upon. Making adequate preparations can help avoid delays or issues during the tour.

  • Last Minute Issues

Despite careful planning, last-minute problems may develop during the final walkthrough. These might range from small cosmetic issues to more serious issues. To prevent prolonging the closing process, sellers must be prepared to handle these difficulties swiftly. This could include making small improvements or negotiating changes to the sale terms. Being proactive and responsive during this stage is critical to ensuring a smooth and timely closing, so decreasing the stress and uncertainty associated with the final stages of the home-selling process.

 

Closing Day

Phew! You’ve finally arrived, but not out of the woods yet! Everybody has to have all of their “ducks in a row” and have a meeting of the minds at the closing table. Hopefully everyone is prepared and there won’t be any delays.

  • Closing Date

By now the date should have been set a while ago as the closing date is a critical step for sellers that must be carefully planned and coordinated. The chosen date is influenced by a number of circumstances, including the buyer’s finance preparedness, the completion of inspections and appraisals, and any title concerns. Sellers must work closely with the buyer, real estate agents, and attorneys to determine a mutually acceptable date. Effective communication is essential for ensuring that all parties are present and prepared, reducing the possibility of delays and guaranteeing a smooth transition.

  • Signing and Reviewing A Lot Of Paperwork

On closing day, sellers must review and sign boat loads of paperwork to complete the transaction. The Closing Disclosure, which outlines the financial components of the transaction, loan documentation (if applicable), and the deed of transfer of ownership are all important documents. Sellers must thoroughly comprehend each document to ensure that all terms are proper and agreed upon. Taking the time to carefully review these documents and ask clarifying questions will help prevent misconceptions and guarantee a smoother closing process.

  • Closing Costs

Closing Costs are a crucial component of the closing process that sellers must plan for. Closing costs often include real estate agent commissions, title fees, and any agreed-upon repairs or concessions. Sellers should be aware of these fees and understand the payment options, which often include wire transfers or cashier’s checks. Being prepared to meet these costs ensures that the transaction goes smoothly, allowing sellers to focus on the final procedures of transferring ownership and receiving the sale profits.

Typical Timeline For Sellers

All of this work takes time, mostly because there are so many people involved. Understanding the normal closing timeline is critical for sellers because it allows them to manage expectations and plan accordingly. The method typically goes as follows:

– Pre-closing preparations (30-45 days): This phase entails obtaining financing, conducting inspections, and negotiating any necessary repairs.
– Title search and insurance (10-14 days): Perform a title search and obtain title insurance to verify the property is clear of liens and legal difficulties.
– Final walkthrough (1-2 days before closing): The buyer can visit the property one last time to ensure everything is in order.
– Closing day (1-2 hours): Finalize the sale by signing documents and paying closing charges.

Potential Hiccups For The Seller

Hopefully everyone involved in your sale is on the same page and don’t have any missed emails, phone calls or missing documents, because there is plenty more potential road blocks to selling your home using the traditional method. Regardless of rigorous planning, several circumstances can interrupt the closing timetable, potentially delaying or even completely derailing the sale entirely.

  • Buyer Financing Problems

Delays in the buyer’s financing are one of the most typical concerns. They might be caused by additional documentation demands, changes in financial condition, or lender backlogs. These delays might drastically extend the timeline, leaving sellers feeling unsure.

  • Appraisals And Inspections

Inspections may reveal severe problems that will require expensive repairs, and appraisals may sometimes value the property less than intended. Both instances can result in renegotiations or additional time to address problems, putting the closing date back.

  • Title Problems

Title searches can uncover unforeseen difficulties like liens, boundary conflicts, or clerical errors in public documents. Resolving these difficulties can be time-consuming and may necessitate legal intervention, causing additional delays.

For sellers, these potential delays can be extremely stressful because they might affect moving preparations, financial arrangements, and the overall timeframe for completing the transaction. When selling the traditional method, sellers must stay flexible and proactive, working with their real estate agents and attorneys to resolve any concerns as soon as possible. Being prepared for these scenarios and having backup plans in place can assist to reduce the stress and uncertainty associated with the closing process.

We Buy Houses – Possibly The Better Alternative!

As you can see, selling your house the traditional way with a real estate agent and listing your home, waiting for a buyer and then wait for the closing can not only be nerve racking, but also a long, drawn out process. Why not give us a try?! You have nothing at all to lose, and are absolutely under no obligation to accept our offer. In fact, we might be able to help you find the absolute best solution to your situation!

When you sell to our company, there’s no waiting on loan approvals, we have cash. We also do our inspections within a day or two of having a signed contract. All in all, we can buy your house in just a few days! Just reach out to us at 770-756-8680, or visit MandichPropertyGroup.com to learn more or reach us via contact form.

 



Source: What’s Involved In Closing On A House And How Long Does It Typically Take?

Monday, January 9, 2023

Marietta Property Group Posts New Blog that Gives Tips on Selling a Home Fast

Marietta, Georgia -

Mandich Property Group of Marietta, Georgia is a local and family-run company in the Atlanta area that has established a reputation for helping people sell their homes quickly. They provide a service that has helped those that are relocating because of a job, have inherited a home, are getting divorced, facing foreclosure, are downsizing, and more to avoid having to spend the extra time and money it takes to maintain a first or second home.

Family member and company representative, Jennifer Mandich, says, “We are often mistaken for real estate agents which could not be further from the truth. As a matter of fact, we discourage home sellers from paying the high fees and other inconveniences that go along with selling a home through a real estate agency. We are cash home buyers that want to help you sell your home quickly for a fair price. Coincidentally, to sell your home for cash is one of the tips mentioned in our new blog post offers quick home sale tips."

how to sell my house fast in Marietta

In this new Mandich Property Group blog titled ‘Tips on How to Sell Your House Fast’, it first mentions that there are times when people need to sell their homes fast and that situation tends to create much stress. That’s why the company decided to write this helpful article. The first quick home sale tip it gave was to increase a home's curb appeal. A home that looks good on the outside is immediately more attractive to prospective buyers when they drive up to it. It was stated in the new blog post that a home seller only gets one chance with a prospective buyer to make a good first impression, so curb appeal is very important.

The article encourages home sellers to look at their home from the street as a buyer would before putting that home up for sale. A home that has a good appearance on the outside is more likely to get prospective buyers to look inside. Also mentioned was to have the inside of a home looking clean and even more importantly, to not look cluttered. The blog next mentioned that once the above-mentioned tasks have been completed then it's time to sell the home. Sellers can list with an agency but that often involves a lengthy sales process. So, a better solution for a quick home sale is for a homeowner to sell their home themselves. It was suggested in the article that it often helps to set a hard sales deadline to get home buyers to act quickly. Also brought up in the blog post is selling a home to a cash flipper which offers many advantages. It’s also thought by many to be the fastest way to sell a home. This Mandich Property Group blog ended by stating that they are always willing to talk with someone who is interested in selling their home for cash.

Mandich also wanted to talk more about some of the advantages of selling a home for cash besides that it makes for a faster home sale. One of which is cash home buyers such as them will buy a home in ‘as-is’ condition. They don’t agree with a homeowner investing more money into a home with the hope of getting that money back when their home sells. People also like the fact that all the money from a cash home sale goes to them as companies such as Mandich Property Group pay all closing costs. Cash home sale agreements also seldom fall through. This is much unlike more traditional agency-led home sales which sometimes fall through because they are often too dependent on bank financing being approved. Cash home sales also greatly simplify the home selling process and stress reduction for the home seller often goes along with that.

https://www.youtube.com/watch?v=lJGTVsuc3YU

Mandich says that all these cash home sale advantages apply to those in such Atlanta area counties as Cherokee, Cobb, Dekalb, Forsyth, Douglas, and Paulding who are looking to sell their homes quickly. They also stated, “Give us a call if you are looking to sell your house fast and easy in Marietta and we will inform you as to how we can help you do that.”


Source: Mandich Property Group Press Advantage

Wednesday, December 28, 2022

Mandich Property Group Explains What to Do When Selling a Home Without Realtor

Marietta, Georgia -

Mandich Property Group, a real estate investment company based in Marietta, GA, has recently published a blog post that explains what to do when planning to sell your home without a realtor. They want to emphasize that it is not necessary to use the services of a real estate agent when selling a home or property. In Georgia, it is possible to sell one’s property without the help of an agent. While there are certain benefits of getting the services of an agent, with a little work, it is possible to sell the home through one’s own efforts.

Jennifer Mandich from Mandich Property Group says, “We recently looked at a house where the seller’s agent told them to not make any repairs, or change anything and even empty the house for showings. The asking price of this property was over 500k, so it was a rather large home. The interior of the property needed painting and carpet and was almost completely bare. With that kind of asking price and everything else in the area selling for around that price in immaculate condition, this seller had their property on the market for well over a year. So by not using an agent and following advice you find on the web, you just may be better off.”

sell my house no agent Dunwoody

It is important to note that there is no difference in the process of selling a home with realtor representation and a for sale by owner (FSBO) transaction. An offer the home is made and once it has been accepted, the process for the sale of the home will proceed. Usually, an escrow account is opened and the buyer deposits the agreed upon amount. The buyers will start the inspection period while the home seller will present all of the mandated disclosures about the property, including the possibility of hazards in the area like waste disposal sites. The buyer will order a title report to examine all ownership and to complete all of the requirements for a financing firm to fund the purchase. With representation by a realtor, the process will be the same except for the elimination of the realtor fees and the home seller doing a bit of the work on their own.

To start the process, the home seller will need to research the MLS or multiple listing service and look for some websites that allow home sellers to post their home for sale online. They usually charge a flat rate, plus some charges for additional services. Next, the seller has to check out on the competition. It is also a good idea to check on the competition and then choose one’s list price.

For those who want a hassle-free home selling experience, they can sell their property to a cash buying company like Mandich Property Group. Since there is no need for financing and waiting for it to get approved, a cash transaction will make the process much easier. The home seller will just need to do some research to find out approximately what the property is worth. These companies will do the rest.

Mandich Property Group is a family owned and operated real estate investment company that is located in Marietta, Georgia. Its leadership team is made up of Jennifer Mandich, Natasha Mandich, and Trevor Mandich, who have a combined experience in real estate investing of more than 30 years. They will always do their best to offer the best possible solution for their clients, including the highest possible cash offer. Their clients are assured that they will not be given low ball offers that are usually encountered by home sellers when dealing with companies that offer to buy houses as is. They fully understand that those who want to sell their home as is and as fast as possible are likely to be experiencing financial issues.

https://www.youtube.com/watch?v=y-_gdvbUcZo

Those who want to learn more about how to sell your house without a real estate agent can check out the Mandich Property Group website or contact them on the phone or through email. They are open from 7:00 am to 10:00 pm at any day of the week.


Source: Mandich Property Group Press Advantage

Tuesday, December 20, 2022

Georgia Mandich Property Group Article Discusses How AI Is Changing the Real Estate Industry

Marietta, Georgia -

Marietta, GA real estate services provider, the Mandich Property Group, has been helping people all over Georgia sell their homes fast with the fair cash deals it offers. What this real estate company does for its clients and others goes well beyond that too. It’s also a real estate company that likes to educate people on current happenings that impact the real estate market. Such is the case with a new article that the Mandich Property Group has posted to its website which talks about how artificial intelligence (AI) is changing the real estate industry. Jennifer Mandich, one of the members of this family-owned business, says, “While our primary function here at our trusted Marietta-based real estate group is to make you a fair offer to sell your home for cash, we also believe in educating you as to how to sell your home quickly in a manner that is acceptable to you. That’s why we do such things as post articles on our website to help you accomplish this. A good example is our recent article titled ‘How Is AI Changing Real Estate?’. It talks about how AI is being used more than ever to set property values and more when it comes to real estate sales.”

The company’s latest post started by saying that AI is changing almost everything about the world and the real estate business is no exception. It states that this is not something that will take place in the future but is already happening now. An example was given in the post about a company called Zillow that has been made famous by giving out what they call ‘Zestimates’. Zestimates use an algorithm based on such things as public information, submitted data from users, current market conditions, home location, and other facts to determine a home’s value. The article states it’s not always 100% accurate but many people are turning to the service as a starting point to learn their home's approximate value. It's an article that says because of services such as Zillow it may no longer be necessary to use the services of a real estate agent to sell a home. This Mandich Property Group article contained a quote from respected real estate analyst Adrian Fisher which states, “In the future, agents will no longer need to accompany clients to show a home, and clients can tour a property at their leisure. Agent-less showings will become more popular as AI-powered robots will be able to show clients around properties anytime and answer questions they may have. In the future, consumers may prefer to do business with bots instead of real people. According to Salesforce, 69% of consumers prefer chatbots for quick communication with brands.” The article expanded on this by saying that studies show that most home buyers now start their home-buying quest by looking at online sources instead of contacting a real estate agent. The article went on to talk about how someone can save $10,000 or more on real estate commissions and other fees when selling their home by not using an agent to help sell their home. As the article ended the company was honest about the fact that real estate agents are not going anywhere in the near future, but as more real estate AI options such as Zilla, Redfin, Opendoor, and Compass come online people will be less dependent on them and one day may not require their services at all.

sell my house without a realtor chamblee

https://www.youtube.com/watch?v=WVfSjzoygjw

Mandich added, “We here at our reputable property group would love to talk to you about selling your home for a fair cash value. You will probably be surprised at all the wasted time, money, and excess stress you can eliminate if you sell your home without using an agent.” She says they have helped people all over the state in such counties as Cobb, Paulding, Forsyth, Douglas, and DeKalb with fast home sales for cash. Those that are interested in learning more about what the Mandich Property Group can offer them regarding a Georgia home sale can contact the company by phone, email, or by filling out and sending in the form that’s found on its website.


Source: Mandich Property Group Press Advantage

Friday, December 9, 2022

Mandich Property Group Explains What Sellers Need to do to Sell a Home Quickly in Georgia

Marietta, Georgia -

Georgia cash home buyer Mandich Property Group has published a blog post offering readers tips on selling a home quickly and at a fair price. The blog post quotes several real estate experts and offers handpicked nuggets of wisdom that should prove helpful to homeowners who want to sell a property in Georgia fast.

Real estate is considered a fixed asset due to the amount of time it takes to convert one’s equity in their home or land into cash. So, even though homeowners may have fully paid off their debts in their real estate investments, it is impractical to rely on them for emergencies. Cash home buyers, like Mandich Property Group, allow property owners to effortlessly fund other ventures by leveraging their existing homes. However, property owners who opt to sell via traditional means, such as listing with a realtor, have to put in some nominal effort to ensure that their home appeals to buyers.

sell my house fast Decatur GA

The first step, as recommended by Mandich Property Group, is to clean the house for staging. To emphasize its point, the company highlights a statistic from the International Association of Home Staging Professionals and StagedHomes.com that says that 93% of staged homes sell in 23 days or less, on average. This step involves deep cleaning, decluttering, depersonalizing, and arranging furnishings to present the property in the best possible light to potential buyers. Cleaning clutter also gives buyers an idea of the complete space available to them, making the home a more lucrative purchase.

Mandich Property Group also suggests that homeowners should repaint their homes. It quotes an article from Fox News that recommends using sophisticated neutral colors in the house to make it appeal to as many different buyers as possible. Finally, the blog post says that homeowners should not get too emotionally attached to their property. This means that homeowners should be willing to modify the existing personalized d├ęcor that they have carefully crafted over the years to match what a majority of buyers expect.

Jennifer Mandich summarizes the tips offered in the blog post by saying, “We know how hard it can be to say goodbye. You have spent years creating treasured memories with your loved ones in your home. However, now that you are ready to move on to bigger and better things, you have to curb your emotions and treat your house as a commodity. So, clean it and change it to match what the current buyers in the market are looking for. It will take time, a little investment, and your focused efforts. We are confident that when done right, this can go a long way towards shortening the time it takes for you to find a buyer and will also maximize your returns. Finally, if you don’t have the patience to stage your property and wait for a buyer but still need to sell your house fast in Decatur, make sure to reach out to us at Mandich Property Group and we can help you get a fair cash value for your home and close the deal as fast as possible.”

Mandich Property Group is a local, family-owned company that makes selling homes in Georgia simple, easy, and stress-free. Since the company buys houses “as-is”, it does not require clients to repair their property or even clean it. Mandich Property Group offers a no-obligation offer that homeowners can mull on and accept on their own terms. Once the homeowner accepts the offer, the company’s real estate experts can close the deal in as little as 7 days. The company has over 30 years of real estate investing experience in the state.

https://www.youtube.com/watch?v=_cvLiVOH7ZI

Mandich Property Group buys houses fast and easy in all the major counties surrounding Atlanta including Cherokee, Bartow, Forsyth, Paulding, Cobb, Fulton, Gwinnett, Douglas, Dekalb, Fayette, Clayton, Henry, and Rockdale counties. Readers in Georgia looking for companies that buy houses as is can contact Jennifer Mandich at (770) 756-8680 to set up an appointment.


Source: Mandich Property Group Press Advantage

Friday, December 2, 2022

Mandich Property Group Explains What Sellers Need To Know About Companies That Buy Houses

Marietta, Georgia -

Marietta, GA based Mandich Property Group is reaching out to shed light on companies that profess to buy houses directly from the seller for cash. Mandich Property Group has a great deal of experience in this industry, and the team wishes to explain what such companies can do for a seller — and how they can decide whether such options are right for their personal circumstances and needs. See more here: Sell Your House As Is For Cash.

The company begins by acknowledging that many are likely to have already heard about such companies in some form and come to the conclusion that these offers have to be too good to be true. While it is true that their marketing efforts may need more polish, Mandich Property Group confirms that this method of selling property is completely legitimate, and many of the companies advertising their services in this regard are likely to be good to their word. Further, it is also true that this method offers a large number of advantages for sellers, but Mandich Property Group advises interested parties to give it careful consideration before making any commitments. It is not suitable in every situation. As with most tools and systems, it is best employed in the appropriate circumstances.

reputable companies that buy houses

One example where a seller may wish to rely instead on the traditional real estate market is if they are in no hurry to sell. If the seller has the luxury of waiting for a serious buyer who can make an attractive offer, they may wish to do so instead of turning to a ‘cash for homes’ company, also known as an investor in this context. This is similarly true if the house in question is only a few years old and is all but guaranteed to find a buyer.

Mandich Property Group recommends that people turn to an investor if one or more of the following is true: they need the sale to be completed as fast as possible (such as when facing financial emergencies), the house requires extensive repairs or renovations before it can be considered ready for the open market, they have already experienced difficulty selling in the traditional manner (or their listings expired) and so on. Mandich Property Group is considered by many to be one of the best companies that buy houses for cash in the region, and they invite interested parties to contact their team today if they wish to learn more.

Notably, the company says that sellers should exercise caution when picking an investor to work with. As with any industry, some will see an opportunity to take advantage of the seller, particularly if they are experiencing some sort of distress (financial constraints, undergoing a divorce and so on). Therefore, it is necessary to take a few precautions to ensure an investor has good intentions (and is capable of the service they claim to provide).

One simple way to determine an investor’s legitimacy is by looking up their reputation. Companies in this industry operate on fast schedules, and they tend to specialize in helping people close a deal quickly. This means they are likely to have received feedback online from sellers who were satisfied with their experience — and those who were not. Mandich Property Group also recommends that sellers start by checking whether a company’s name, logo, business address and contact details are prominently displayed on its website. If these details are not readily available, it may indicate that the investor prefers to make it difficult for clients to reach out to them. There are very few positive reasons for this.

https://www.youtube.com/watch?v=779Qh4dhVSs

Anyone looking for companies that pay cash for houses in Stone Mountain and beyond can turn to Mandich Property Group for immediate assistance. The company has worked with homeowners and sellers across the state of Georgia, and they are always willing to talk to those who wish to explore their options. Should a seller not be familiar with this business model, they are welcome to direct all their questions to the company’s knowledgeable agents when they first get in touch.


Source: Mandich Property Group Press Advantage