When selling a home, the escrow process can be one of the most daunting tasks for homeowners. The escrow process is the period of time between the acceptance of a purchase agreement and the closing of the sale. During this period, the buyer and seller will work to complete all the necessary steps to transfer ownership of the property. While this process can take a long time with a traditional MLS listing, things are much faster with a direct sale to Nance Homebuyer.
In this blog post, we’ll walk you through the typical steps of the escrow process and what homeowners can expect when selling a home in Atlanta. We’ll also discuss how a direct sale to Nance Homebuyer can make the process much faster and less stressful.
Step 1: Opening Escrow
The first step in the escrow process is opening escrow. This is done by the buyer’s real estate agent, who will send a copy of the signed purchase agreement to the escrow company. The escrow company will then open a file and send out instructions to both parties on what they need to do next. This is the first step in this process and marks a crucial step in the closing of the home.
Step 2: Title Search and Insurance
The next step in the escrow process is conducting a title search and obtaining title insurance. This is important to ensure that the title of the property is clear and that there are no liens, encumbrances, or other issues that could prevent the sale from going through. The escrow company will work with a title company to perform the search and obtain the insurance.
Step 3: Home Inspection and Repairs
After the title search and insurance have been completed, the buyer will typically schedule a home inspection. The inspection will identify any issues with the property that need to be addressed before the sale can be completed. The seller will then need to make any necessary repairs or offer a credit to the buyer to cover the cost of the repairs.
Step 4: Appraisal
Once the repairs have been made, the buyer’s lender will typically order an appraisal of the property. The appraisal is important to ensure that the property is worth the amount that the buyer has agreed to pay for it. If the appraisal comes in lower than the sale price, the buyer may need to renegotiate the price or the seller may need to make repairs to bring the value of the property up.
Step 5: Contingencies
During the escrow process, there may be contingencies that need to be met before the sale can be completed. A contingency is a condition that must be met before the sale can go through. For example, the sale may be contingent on the buyer obtaining financing or on the seller making certain repairs. The escrow company will ensure that all contingencies are met before the sale can be completed.
Step 6: Closing
Once all the steps of the escrow process have been completed, the sale can be closed. This involves the transfer of ownership from the seller to the buyer and the exchange of funds. The escrow company will ensure that all necessary paperwork is signed and that the funds are transferred.
As you can see, the escrow process can be lengthy and stressful for homeowners. However, there is a faster and less stressful option available – a direct sale to Nance Homebuyer.
Why Choose Nance Homebuyer?
With a direct sale to Nance Homebuyer, there is no need to go through the escrow process. Instead, Nance Homebuyer will make an offer on your property and can close the sale within days. This means that you can avoid the stress and uncertainty of the traditional escrow process and get cash for your property quickly.
In addition, a direct sale to Nance Homebuyer offers several other benefits. For example, you can avoid the need to make repairs to your property or stage it for showings. Nance Homebuyer will buy your property as-is, regardless of its condition. This can save you time and money and make the process much more convenient. This is a much better way to sell your home than taking the more traditional approach. When going through the escrow process with a Realtor, most often a seller will have to spend a lot of money to get a property up to the standards to be listed on the market and sold. While Realtors try and promise a higher price to sellers for the home, most times the total net proceeds to the seller end up being the same as when they sellers receives an offer from a company like Nance Homebuyer. Nance Homebuyer will be able to buy the home directly from the seller and avoid the escrow process, realtor fees, and all of the other headaches that come with selling a home.
Another benefit of a direct sale to Nance Homebuyer is that there are no real estate agent commissions or fees to pay. When you sell your property through a traditional MLS listing, you will typically need to pay a commission to the buyer’s agent and your own agent. This can add up to thousands of dollars in fees. With a direct sale to Nance Homebuyer, there are no commissions or fees to pay, which means that you can keep more of the sale price for yourself.
Finally, a direct sale to Nance Homebuyer offers certainty and peace of mind. When you sell your property through a traditional MLS listing, there is always the risk that the sale will fall through during the escrow process. This can be devastating for homeowners who are counting on the sale to go through. With a direct sale to Nance Homebuyer, you can be confident that the sale will go through as planned and that you will receive cash for your property. Another point to take into consideration when selling your home on the MLS with an agent is the initial list price. If listed too high to begin with, the listing has the potential to sit on the MLS for long periods of time. Most often, this will result in other buyers agents becoming hesitant to show the home for fear that there might be in issue with the home itself or the listing. If listed too low to begin with, the seller is in danger of not netting the highest amount possible for their home. This is why selling your home to Nance Homebuyer can be a great way to get the best offer upfront and avoid all of the back and forth that is associated with Realtors and the escrow process.
The escrow process can be a stressful and time-consuming experience for homeowners. However, there is a faster and less stressful option available – a direct sale to Nance Homebuyer. With a direct sale to Nance Homebuyer, you can avoid the uncertainty and stress of the traditional escrow process and get cash for your property quickly. If you’re looking to sell your property in Atlanta, contact Nance Homebuyer today to learn how we can help you. 770.746.8608