Selling Off Market: Steps to Close

1. Prepare Property

After the purchase agreement is signed, we will take photos or video to document property for our team or potential buyers

Clear and make sure any items are removed from property unless otherwise specified in purchase agreement.

Secure a lockbox on the property to schedule showings, allowing the seller to avoid the hassle of being present to grant access.

  • In an off-market transaction, signing a purchase agreement secures the property with a binding contract, allowing us to present it to our network of buyers or partners confidently. This agreement ensures that all parties are committed to the transaction and outlines the terms and conditions for the sale.

2. Send Property Info to Buyers

We will share information we gathered with our private buyers we have within our network to gage interest in the property.

  • We can reevaluate the price or selling strategy, or move on if you prefer.

  • Typically takes a few days.

    Example: If you signed the purchase agreement on Monday, we will have time Tuesday to send out to our network, resulting in a couple of days to field responses.

    We would like to get responses by Wednesday and Thursday so we can schedule a buyers showing on Friday at the earliest so the transactions is speedy as possible.

3. Schedule Showing

We will schedule a date and time to show the property. We normally schedule a one time showing for less than 30-45 minutes, simialr to an open house.

  • No, you don't need to be present. We will handle the showings and use a lockbox for access to make the process hassle-free for you.

4. Finalize Offers

After we complete the walk through, we will field any offers from our buyers. The buyer will then deposit an earnest money deposit with our title company to secure the contract.

  • Typically takes 24-48 hours to receive an offer and respond back to the seller after the showing.

  • If we don’t have any interested buyers then we can reevaluate the price to lower it or terminate the contract. Which ever the seller decides.

  • The title company will conduct a title search to ensure there are no liens or encumbrances on the property. This step ensures a clear transfer of ownership.

  • Unless specified in the purchase agreement. Seller will pay closing costs and county transfer taxes.

    Estimated costs for closing costs are 2-3% of the purchase price of the property.

  • The tile company will contact any lien holder and pay off existing amount owed which will come from proceeds of the sale.

  • Seller owes $20,000 in taxes or mortgage and offer price was $100,000 then you will receive $80,000 minus roughly 2-3% closing costs

5. Open Escrow at Title Company

Upon receiving the earnest money deposit, the title company conducts a title search to ensure a clear transfer of title.

6. Schedule Close

Set a closing date at the title company. Seller will need to bring a drivers license and house keys.

  • Arrange a final water reading before closing. Title company will hold $300 from seller until they receive final water reading. Seller will receive check with deduction with what is owed to water bill.

  • Conduct a final walkthrough with the buyer 24 hours before close to ensure property is in condition as per purchase agreement and no damages have incurred.

7. Close on Property

Seller will meet at the title company on scheduled date.

They will need to bring a form of ID (Driver License)and keys to the property.

  • Seller will sign necessary documents

  • Exchange keys

  • Receive a certified check or wired funds to bank account

  • No, legally title company can not physically hold cash at office.

Timeline from agreement to payment:

  • Offer Acceptance: Approximately 5-10 days after signing the purchase agreement.

  • Closing: The title company typically requires 1-2 weeks to finalize the process, depending on the documentation needed.

This structured approach ensures a smooth and efficient off-market sale, providing you with convenience and peace of mind.