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What Buyers Should Expect in a Transaction

By
Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 


Today's real estate environment is much different than years past and the needSetting expectations to counsel your buyers and sellers as to reasonable expectations is critical.    This seems to be even more important when they have purchased or sold homes prior to 2008.   The loan process has changed dramatically.    There are usually some bumps in the road prior to closings, and if expectations are explained, the transaction will be smoother.    



Buyers always ask what condition the seller is required to leave the property, Leaving a property in broom clean conditionand in Colorado -- it is to be left in reasonable condition with normal wear and tear considered.    Usually if you show a property and it is immaculate, most likely that is how the buyers will find their new home upon possession.      If it is messy and dirty during the initial showing, that too is how the Buyer will find the home when they take  possession.

 



Many times during the transaction, buyers make additional appointments to measure areas of the homes for furniture or window coverings, or meet contractors.    This can become troublesome if it happens too many times, as the sellers are busy packing and taking care of possible inspection issues.     If I have a buyer that loves to visit once a week, (unless it is vacant) I try to explain some of these items can be done after taking possession.



The week of closing where the file is at the lender and in underwriting, there is a very good chance a buyer will need to produce extra documentation.     Underwriters seem to want to have every piece of information on you since birth , and if a buyer plans time away and will be unavailable, it is a good idea to schedule a closing a week after they return.



I recommend to all buyers to have time to clean their new property prior to moving kitchen and bathroom items in or have a professional cleaning company especially if I know they are neat freaks!   I always recommend having the locks changed after closing.  You never know how many sets of keys are out there.   This sets a level of expectation, and usually has a better ending!

 

Posted by

Joan Cox
Broker/Owner, REALTOR®
House to Home, Inc.

Serving the Denver Metro area including all suburbs


Helping Buyers and Sellers achieve their real estate dreams, one house at a time!

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Comments(52)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lisa, always nice to share with buyers the expectations.

May 24, 2018 05:19 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gloria, you do a great job with your clients!

May 24, 2018 05:20 PM
Dena Stevens
Rocky Mountain Realty - Canon City, CO
Putting The Real Into Realtor Since 2004

Today when buyers seem so educated either by the internet or by television I'm always surprised by the questions they come up with. Agents can't get lazy and expect buyers to have the answers already. I've recently worked with a 2nd time home buyer currently under contract. Daily he calls me with questions. Most of the time these are questions I've already answered. So I think of these phone calls as convidence builders. 

May 24, 2018 08:58 PM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

This is so true: The week of closing where the file is at the lender and in underwriting, there is a very good chance a buyer will need to produce extra documentation."

May 24, 2018 11:04 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dena, buyers can find many of their questions on-line but do rely on us as professionals to guide them through a transaction.

May 25, 2018 07:19 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michelle, always lots to produce to the lender that week or so prior to closing.

May 25, 2018 07:20 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Joan, helping the buyer/seller, by giving them what to expect can precent some rather unpleasant surprises.

These are great tips and great reminder for me to use them.

Thanks

May 25, 2018 07:50 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I think this is true in any situation. When we know what to expect, we're not as worried or stressed.

May 25, 2018 12:56 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

The sellers that don't arrange to have the house p rofessionally cleaned for the new buyers...well that reflects on them.  Also--very frustrating when lender says 'yes we have everything we need' yet two days before closing, some other doc is requested!

May 25, 2018 06:22 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

John, some buyers and sellers get very anxious of the unknown and best to keep them informed of what is next and what to expect.

May 26, 2018 08:58 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Exactly Marte!  

May 26, 2018 08:58 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

That does happen in many occasions Mary!  Hate those last minute requests! 

May 26, 2018 08:58 AM
Ricardo Mello
Manhattan Miami Real Estate - Manhattan, NY
Manhattan & Miami Real Estate Agent

Interesting post!

May 27, 2018 10:19 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thank you for stopping by Ricardo!

May 27, 2018 07:27 PM
Matthew Klinowski, PA
Downing Frye Realty - Naples, FL
Naples Golf Guy | Find Your Dream Lifestyle

Morning Joan, great post. It can be challenging to make sure buyers are well educated.  It's one of the reasons I always recommend people use a professional agent. While I hope they chose me to work with, I ultimately want to be sure they are well represented and working with a professional is critical.

Jun 22, 2018 05:01 AM
Erika Rogers
Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage - Saint George, UT
St George Utah Real Estate & Relocation Specialist

Joan Cox good morning!  Great post and good things to point out to the buyers.  It's difficult when they're so excited to understand that the sellers are also busy and trying to wrap things up. Frequent visits are not convenient when the home is still occupied. 

Jun 22, 2018 08:07 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Matthew Klinowski, PA Buyers would definitely be in the hands of a professional working with you!  Thank you!  

Jun 22, 2018 08:11 AM
Matthew Klinowski, PA

Thanks Joan, same goes for you! Have a great evening.

Jun 22, 2018 04:45 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Erika Rogers I recommend taking a video with their phone to refer back to when they wonder about something, rather than making several trips to the home.

Jun 22, 2018 08:11 AM
Sharon Mistowski
Horizon Lending Services, LLC - Flint, TX
Horizon Lending Services, LLC

What a great post Joan! I really like how you outlined the things that all buyers should be aware of when it comes to a real estate transaction. Educating on these expectations will lead to less headaches.

Jun 22, 2018 01:50 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thank you Pat & Sharon, I appreciate it! 

Jun 22, 2018 02:20 PM