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Sign a Purchase Agreement
Once you and the buyer have agreed upon an offer, you will both sign a legal contract called a Purchase and Sale Agreement. This outlines the specific terms, conditions, and contingencies of the property sale.
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Cooperate with Inspections
Next, the buyer will hire an inspector to ensure that no major repairs will be needed after they buy the house. The inspector will go through every inch of the house, paying particular attention to the roof, basement, heating and cooling systems, structure, plumbing, and electrical. If the inspector finds any needed repairs, the buyer can negotiate for the costs of the repairs.
Enter Escrow
Next, you will enter escrow. During this time, you and your agent will work with an escrow company to complete paperwork and ensure that all parts of the contract are complete.
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Sign, Pay and Finalize!
On a predetermined closing date, you and your buyer will sit down with your agents to sign all the paperwork and pay all your fees. You will relinquish your keys and your property title, and you will receive a check for the remaining balance after the remainder of your mortgage is paid to your bank. Congrats - you have sold your property!