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Once the buyers & I have signed contract agreeing to sale price how long until my MLS status changes from “active” to “active option contract” and how long will I need to still show the house? We finalized Friday but we have had several showings since it's picking back up with school almost being out now.
If the buyer has 3-7 days to schedule the inspection how long will it be before my realtor or I hear the status of the findings?
How quickly will the buyers have to schedule the appraisal after the inspection?
At what point in this process would it be “safe” for us to secure our apartment to rent while we are having our house built? They will be closing on 7/24 and are not going to take possession of the home until 7/26 after 6 pm so that gives us time to clean the house but we would definitely need more time to move out than 2 days. In our small town we don’t have a lot of apartment choices, so we need to move quickly but I don’t want to put the cart before the horse!
Once the buyers & I have signed contract agreeing to sale price how long until my MLS status changes from “active” to “active option contract” and how long will I need to still show the house? We finalized Friday but we have had several showings since it's picking back up with school almost being out now.
If the buyer has 3-7 days to schedule the inspection how long will it be before my realtor or I hear the status of the findings?
How quickly will the buyers have to schedule the appraisal after the inspection?
At what point in this process would it be “safe” for us to secure our apartment to rent while we are having our house built? They will be closing on 7/24 and are not going to take possession of the home until 7/26 after 6 pm so that gives us time to clean the house but we would definitely need more time to move out than 2 days. In our small town we don’t have a lot of apartment choices, so we need to move quickly but I don’t want to put the cart before the horse!
1 - You don't "have" to show to anyone at anytime. Most people normally expect the contract to go through and stop showing then.
2 - Regarding the inspection, do you expect there to be issues you are unwilling to pay for or re-negotiate the price? I'd re-think this, as future buyers will find the same problems.
3 - When is a "safe" time to rent a new place? Technically, not until you sign at closing. Anything could fall apart then. You need to have faith that it won't.
Thanks for the response!
I didn't think I needed to keep showing it - they look and sound like totally solid buyers so we feel good that won't happen.
I don't think there will be anything major (knock on wood) our house is only 6 years old & we expected this to be our "forever" house - we take excellent care of it as we do love it - just outgrown it. Anything that comes up we will fix it.
I am trying to find my *faith* right now! I think I'll be much more comfortable with it once the inspection & appraisal are done. Once those come back good then we should be able to mentally relax.
Your status should have changed immediately. Some MLSs give out fines if status is not as up to date as possible, meaning usually within 2 days of the status change. To keep marketing it to buyers as Active is false advertising and gets buyer's hopes up, and is just a waste of people's time. If the status shows the Option status and a buyer still wants to see it, then they're just checking to see if it's a possibility if your buyer backs out, but at least they know it's not a current option.
If you are closing on 7/24 that is the day you need to be out unless you have a "seller occupied after closing" agreement. Once the buyers close and own the house, they can move in anytime they want. If it's a week later or a month later, it's not extra time you have to clean and move.
If you were planning on using that time to move, you need to make sure you have that document. If you don't, then you need to have somewhere to go at the very, very least the day before closing. The morning of closing the buyers will want to have a walk through of the property and you need to be completely moved out and the house clean.
BTW, I would suggest you sit your agent down and ask her to outline exactly what is going to happen step by step from now until closing. You sound a little lost, and that's not your fault. Your agent needs to keep you informed.
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