(760) 740-2555

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1-800-813-3929

I HAVE A BUYER, NOW WHAT SHOULD I DO?

REACH AGREEMENT, OPEN THE ESCROW, CLOSE THE ESCROW.

OPTION 1: REVIEW OF OFFER, ADVICE, COUNTER OFFER, $300.

Rarely is an offer written which does not require a counter offer(s) for the seller’s protection and best interests. We will review the written offer you receive, point out strong and weak points, counsel and suggest the best ways to counter offer to meet your needs. We will contact the buyer’s lender to make certain of their qualifications, in writing, before you take unnecessary time with someone who may be unqualified or lack the necessary cash for down payment and closing. Lenders will discuss buyer qualifications with a broker, but not with a seller, and most letters from lenders (pre-qualification or pre-approval) are generic and worthless.

Specific questions must be asked of the lender, answered in writing, and certain documentation provided. Exact language is crucial when composing a counter offer to a confusing and technical real estate contract. After you decide what changes will make the offer acceptable to you, we will draft a formal, written counter offer on the proper form per your specifications and requirements, and present it to you ready for signature(s). This can be completed by fax, phone and e-mail without leaving your home, usually shortly after you receive the offer.

For Sale By Owners are sometimes presented with offers directly from buyers, but more often from an agent representing the buyer. (Always remember that any commission to a buyer’s broker is fully negotiable in the counter offer, but must be worded correctly for your protection). When presented directly from a buyer, offers are usually not on the proper form (California Association of Realtors form RPA-CA, Residential Purchase Agreement and Joint Escrow Instructions, required by escrow, title and lender) nor are they complete and binding. When presented by a buyer’s agent, it is a sad fact that many such offers would not pass the scrutiny of an experienced broker with your interests in mind. The current form used (RPA-CA) is an intimidating contract of 10-20 pages of technical real estate verbiage with numerous legal loopholes heavily favoring the buyer.

When overwhelmed, many sellers reluctantly seek an attorney to review the agreement for an excessive fee. They may pay an agent 1%-3% for the same service, while not knowing the experience level of that agent. Worse yet, they may just "sign it" and hope it goes through. Most sellers do not realize that there is a service available such as the one we provide.

In 30 years, with thousands of offers reviewed, countered and escrows closed, we know every question to ask and answer, and every pitfall to help you avoid. Our goal is to craft a binding contract from a qualified buyer, with beneficial terms, which will result in a closed escrow, and avoid entanglement in an offer/escrow that shows no hope or chance of closing. Of the thousands of clients who have used this service over the last 30 years, all have found it to be invaluable and very affordable for the protection it provides. This fee covers additional counter offers as needed on the same offer.

OPTION 2: CLOSE THE ESCROW

Reaching agreement and opening escrow is about 20% of the process, the challenge remains in getting the escrow closed in the next 30-45 days. Most FSBO’s think that "escrow does it". But, escrow does the escrow work of collecting documents and disbursing funds. Escrow is a neutral third party. They do not provide disclosures, arrange inspections or negotiate, mediate or counsel through disagreements or problems during the escrow process. Escrow cannot tell or direct your or the buyer how to proceed, they can only take instructions from you. If a buyer’s agent involved, the seller needs continuing representation for the myriad of tasks to be performed, the completion of disclosures, and help in further negotiations, especially after the physical inspection and buyer’s repair requests.

You or your agent must complete, deliver and obtain a receipt of delivery, in proper form, from the buyer for every disclosure required. If the buyer does not acknowledge receipt, or comply within the proper time frame, additional forms (Notices To Perform) must be prepared and delivered. It is prudent for the seller to place a time limit on a release of all contingencies, but this must be done in the original offer. Most buyers will have the assistance of four people; a broker, agent, agent’s assistant, and transaction coordinator protecting the buyer’s interests. This is why the seller needs representation to protect their interests. You stand to lose time and money if things do not progress and close as desired and on time. This is calculated by the real estate industry, as selling a home has purposely been made increasingly complicated to make it next to impossible for a homeowner to complete the process on their own.

If you decide you need and want our help to close get the escrow closed, after using Option 1, we will do EVERYTHING NECESSARY to accomplish this including disclosures, reports, inspections, clearance, Notices to Perform, release of contingencies, and coordination between escrow, title, lender, and appraiser. We offer this service inexpensively to make sure you have the professional assistance you need to get your escrow closed without paying an exorbitant fee of 1-3% of the contract price. The cost is $2100-$2500, depending upon the complexity of the transaction, the number of people involved, the number and location of the buyers and sellers, and the location of the property and escrow. Of this amount, $500 is due upon the completion of disclosures, and the balance from escrow upon closing. Please compare our qualifications and cost with any other company or broker you may consider.

You may have a party interested in purchasing your home with no other agent involved, and if this is the case, the buyer usually knows less about this process than you. So, who will lead whom? We have observed many lost sales because neither the seller or buyer knew what to do next to sell/buy the property. After you have verbally agreed upon a purchase price, we will confirm their qualifications and assets, in writing, with their lender, then arrange a time when both you and the buyers can meet with us at your home. There we will draft the RPA-CA , complete all disclosures and required documents, help you reach agreement on all points and make certain all documents are fully executed. (If either party is out of the area, this can be completed by fax) We will then open escrow and supply documents to all involved parties. We will coordinate the loan, appraisal, all inspections, escrow, title, and pest control, and make certain all reports, inspections, disclosures, and contingency removals are accomplished on time, We will monitor and control the escrow to a successful close keeping you closely informed at all times. In other words, we will do EVERYTHING NECESSARY to close the escrow.

Most sellers will pay a 5%-7% commission to sell their home. In representing both parties, our total fee is $3,500. Buyers and sellers often split this amount as it is a definite and inexpensive benefit and service for the protection/assurance of both parties - but either party may pay. Of this amount, $500 is payable upon drafting the offer and completion of disclosures, and the balance at close of escrow. As a final note, a buyer without an agent, and unfamiliar with the process of buying, might be hesitant to brave it on their own, and could possibly just walk away. You might find it beneficial to inform them that we can help both of you with the paperwork, and the entire transaction, thus providing them with the confidence they need to pursue the purchase of your home, without hiring an expensive buyer’s agent.

CALL US FOR ALL YOUR REAL ESTATE NEEDS!

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1-800-813-3929

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OUR GOAL IS TO PROVIDE THE BEST POSSIBLE SERVICE AT A REALISTIC PRICE