Step 9 in the Home-Selling process: More on the Conditional Phase

📣📣Step 9 in the Home-Selling process: More on the Conditional Phase

 

Hi, it’s Walter Monteiro here from The Maximum Results Team!

 

Welcome to Step 9 in the home-selling process: More on the Conditional Phase. If you’ve accepted a conditional offer, this phase is about ensuring the buyer fulfills their conditions within the agreed-upon timeframe. While this period can feel uncertain, it’s a standard part of the process, and I’m here to guide you every step of the way.

 

What Happens During the Conditional Phase?

✅The Buyer Works on Their Conditions:

Common conditions include securing financing, completing a home inspection, or selling their current property. The buyer is responsible for meeting these requirements and notifying us once they’re satisfied. Inspections and Appraisals: If the offer includes a home inspection, a professional inspector will assess your property. Sometimes, instead of asking for repairs, the buyer may request a price concession to address any issues identified during the inspection. I’ll help you evaluate these requests and decide whether to accept, counter, or hold firm. If the offer is conditional on financing, the buyer’s lender may require an appraiser to assess your property. This ensures the home’s value aligns with the mortgage amount being requested.

 

I’ll help coordinate the appraisal to make the process as smooth as possible. Meeting Deadlines and Notifications:

✅Once the buyer has fulfilled their conditions, they’ll submit a Notice of Fulfillment of Condition. This is a legal document that confirms the conditions have been met and the sale can proceed to firm status. I’ll keep track of all deadlines and ensure everything is handled promptly and correctly.

 

Your Responsibilities as the Seller:

✅During this time, you may need to Allow access for inspections or appraisals. Address any agreed-upon repairs or adjustments. Be prepared to negotiate if the buyer requests changes based on their findings.

 

Your Options During the Conditional Phase Continue Showing Your Home:

✅You have the option to keep your home on the market and entertain backup showings. This ensures you have other opportunities lined up in case the current deal falls through.

 

Stay Flexible and Strategic:

✅While it’s important to hold the buyer accountable to their conditions, a little flexibility—like granting an extension or negotiating small adjustments—can sometimes keep the deal together and prevent unnecessary delays.

 

What Happens If Conditions Aren’t Met?

✅If the buyer is unable to meet their conditions, the offer may fall through. While this can be disappointing, it’s not the end of the road. If we’ve kept your home on the market, you may already have other potential buyers lined up. I’ll work with you to quickly relist the property or pivot to other offers to minimize downtime. Moving to Firm Sale Status Once all conditions are satisfied and the Notice of Fulfillment is signed, the sale becomes firm, and we move forward with preparing for closing day. At this point, you can rest assured that the buyer is fully committed to the purchase. Stay tuned for Step 10, where I’ll guide you through what to expect on closing day and how to hand over the keys to your home! Thank you for watching, and I look forward to helping you get Maximum Results!

 

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