Buying or selling a property comes with new terms, paperwork and deadlines. We've put together these guides to help explain what common documents and steps mean. Every transaction is different, so feel free to ask us about how a specific term or document applies to you!
This agreement outlines our working relationship, the services we provide, how our brokerage is paid, and how long we'll work together. Out team does not require you to pay our commission–we'll ask the seller to cover it in the offer, though the seller's agreement is not guaranteed. We want you to feel comfortable working with us, so if you're unhappy with out services, talk with us; we'll make it easy to end the agreement.
This disclosure warns you about scammers who may send fake emails or texts with changed wire instruction. Before sending money, call us using a phone number you independently know is correct to confirm the instructions. Don't rely on phone numbers or links in a message that gives you new wiring details.
Limited Agency may apply when the same brokerage or agent represents both buyer and seller in a transaction. It explains how the agent(s) can work both sides while following the limits and duties described in the disclosure.
The REPC is the written agreement for buying and selling the property. It lays out the agreed upon price, deadlines, responsibilities and other terms of the offer. Once signed and accepted, it guides the transaction, so read it carefully and ask us about anything you don't understand before signing.
A "good faith" deposit submitted after an offer is accepted showing the seller you're serious. This deposit can range from $1,000 to 1% of the offer price. Depending on the contract and circumstances, you could risk losing it if you back out, so we keep a close eye on the deadlines and help you understand what's due when. Typically, you are able to get it back if you need to cancel, but the contract explains when and how that works.
The deposit is typically credited towards your costs and closing.
Seller's Property and Condition Disclosures (SPCD's) are forms where the seller shares information they know about the property, such as its condition, past repairs or other relevant details.
As a buyer, review the disclosures carefully and ask your agent about anything that's unclear. We can help explain the process and suggest questions to ask, but disclosures don't replace inspections or your own due diligence.
Due diligence is the time for you to learn as much as you can about a property before moving forward. This may include reviewing disclosures and property information, scheduling inspections, and checking anything else that matters to you. Your contract sets the deadlines and we will help you keep track of them.
We provide a "Buyer Due Diligence Checklist" to help you keep track of common items to review and questions to consider. We will also provide property-specific information available to us, such as CC&R's and HOA details. This is also a good time to confirm the property will work for your intended use.
The financing and appraisal period is when your lender works to approve your loan and arrange an appraisal of the property. The appraisal helps the lender evaluate the property's value for the loan; it is nit the same as a home inspection. Your contract sets the applicable deadlines, and we help keep track of them while you work with your lender and review any questions that come up.
The settlement deadline is the date listed in your REPC for completing the purchase. By then, the required documents are signed, finds are delivered, and the transaction is ready to be finalized. We'll help you keep track of the timeline and coordinate with the other parties involved.
Recording is when the county officially records the deed and ownership transfers to you. The home is not yours to enter or occupy until recording is confirmed–not just because closing documents are signed. Once recording is confirmed, your agent or title company will let you know when you can get the keys and move in or begin using the property.
An addendum is an additonal document that adds terms or information to the purchase contract. It becomes part of the contract when properly completed and signed. Your agent can explain what it's for and where it fits in the transaction; read it carefully and ask questions as needed before signing.
A title commitment is a report from the title company showing the current ownership of the property and matter that may affect its title, such as liens, easements, or recorded restrictions. Review it and ask questions about anything you don't understand. Your title company can explain title-related questions and what may need to be addressed before closing.
This agreement outlines our working relationship, the services we'll provide, the listing period, and how the brokerage may be compensated. Commission is negotiable, when deciding on a price, sellers may consider all costs and market factors; we can discuss how compensation fits into your pricing strategy.
This agreement also gives us permission to market and represent your property. We'll review it with you before signing so you understand what you're agreeing to and can ask questions. We want you to feel comfortable working with us. If you're unhappy with our services, talk with us; we'll work with you to end the agreement at any time.
The input form helps us prepare the listing and other marketing materials. Please review it carefully when we send it to you for signing, since the information will be shown as-is on the MLS and pushed out to all listing platforms. We want everything to be as accurate as possible, so let us know if you notice anything that needs to be corrected or changed, we will update it with you.
This form gives you an opportunity to share information you know about the property, including its condition, repairs, updates, or other relevant details. Please answer each question carefully and honestly, and let us know if you're unsure how to respond. Buyers will review the disclosure, so tell us if anything needs correcting or updating before it's finalized.
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