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Old 07-30-2010, 04:42 AM
 
61 posts, read 206,519 times
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Please share with us what your buyer's agent did for you AFTER an offer was accepted. OR
What should you expect from your buyer's agent AFTER an offer was accepted?
Thank you.
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Old 07-30-2010, 08:43 AM
 
Location: NJ
17,579 posts, read 38,347,516 times
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Off the top of my head and going through emails:

Inspection - arranged the time for the showing with the seller and was present. Helped discuss the outcome of the inspection and what items to negotiate for. Got verification of all items that were agreed upon were completed (invoices, work orders, etc.).

Permits - called the township to ask about any permits that had been applied for at the property.

Mortgage - followed up with the loan officer on how things were progressing and gave me updates. My agent knew the Lo so maybe that was why this happened. After we got the loan committment sent that to the seller.

Forwarded me a list of "judgements" of people with a similar name that I had to declare were not me from the title search.

Followed up that the COO was completed.

Utilities - got us all of the contact numbers for the utilities we had to set up prior to closing.

Closing - prior to closing made sure we had all the documents we needed. Made sure we had copies of the HUD. Attended closing and made sure we understood what was going on.
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Old 07-30-2010, 08:48 AM
 
28,384 posts, read 68,028,377 times
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Default Human calendar, hand holder, fear calmer...

After offer is accepted the period before closing can be stressful even for experienced buyers. Lendingnmoves admits own pace, sellers need to be reminded that moving out happens on a timeline, buyers can get spooked bynalmost anything.

A nice calendar type reminder, via emboli phonenor in person, helpsmto keep buyer aware of the progress made / tasks needed.
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Old 07-30-2010, 11:26 AM
 
Location: Olympia
1,022 posts, read 3,589,964 times
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After a buyer is under contract his/her agent should:

-Open escrow, deposit the earnest money, and make sure all parties receive the earnest money receipt.
-Make sure the buyers' lender has a complete contract
-Make sure the seller complies with all negotiated items and repairs
-Keeps track of all contractual time lines and contingencies
-Attend the home inspection and negotiate inspection requests
-Helps the buyers arrange for well water testing, or septic pumps
-Coordinates access for the appraiser
-Periodically checks on financing, escrow and title progress
-Attend closing
-Coordinates turn-over of keys, garage door openers
-Helps direct buyers to new schools, utilities, post office, HOA, temporary housing, pet kennels, contractors, storage, moving companies etc.

All of this when the transaction goes smoothly, but much much more if issues arise, such as a switch of lenders, an appraisal for less than the agreed upon price of the home, a change of mind from the buyers or sellers, a bounced earnest money check, problems with title, undisclosed easements, etc.

Showings and writing up the contract is only part of the transaction the rest is in the 30 days between signing the contract and closing.
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Old 07-30-2010, 12:16 PM
 
Location: Barrington
41,994 posts, read 31,779,380 times
Reputation: 14100
Quote:
Originally Posted by Sandy Nelson View Post
After a buyer is under contract his/her agent should:

-Open escrow, deposit the earnest money, and make sure all parties receive the earnest money receipt. Listing broker responsibility in my area
-Make sure the buyers' lender and attorney has a complete contract
-Make sure the seller complies with all negotiated items and repairs
-Keeps track of all contractual time lines and contingencies and escalates, when necessary-Attend the home inspection and negotiate inspection requests Negotiation of inspection issues is done between attorneis in my area.
-Helps the buyers arrange for well water testing, or septic pumps Done by the seller in my area
-Coordinates access for the appraiser Done by the listing agent in my area. The buyer's agent rarely knows unless the LA thinks to notify.
-Periodically checks on financing, escrow and title progress and evaluates the estimated and final closing statement
- Arranges for and attends final walk thru
-Attend closing
-Coordinates turn-over of keys, garage door openers
-Helps direct buyers to new schools, utilities, post office, HOA, temporary housing, pet kennels, contractors, storage, moving companies etc.

All of this when the transaction goes smoothly, but much much more if issues arise, such as a switch of lenders, an appraisal for less than the agreed upon price of the home, a change of mind from the buyers or sellers, a bounced earnest money check, problems with title, undisclosed easements, etc.

Showings and writing up the contract is only part of the transaction the rest is in the 30 days between signing the contract and closing.
Good list Sandy. I added my 2 cents to illustrate what the buyer's agent does after the contract is signed varies throughout the U.S.

As it relates to Manderly's observations, it's rare for any agent in my area to seek out permit information unless there is a question about the seller's disclosure. A COO is not required on resales in my area.
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