8 South Main Street Sayville, NY 11782
Phone: (631) 563-1616
Fax: (631) 567-9211
Toll Free: (800) 236-8827

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Selling Timeline

Steps to Closing on the sale of your home

  1. 1Meeting of the Minds when the buyer and seller come to an agreed upon price and terms.
  2. 2Engineers Inspection

    Should be done with in 72 house of meeting of the minds.

  3. 3Contracts

    Once buyers engineer’s inspection is complete and the buyer give the OK, the seller’s attorney will send contracts to the buyer’s attorney.

    The attorney will review the contracts and have buyers come in to sign them. This is the point at which buyers will turn over the deposit check to heir attorney.
    You are now in ½ contract.

    Buyer’s attorney will send the contracts and the deposit check to you attorney. Once you attorney reviews the contract for changes, he will ask you to come in and sign the contract. The deposit is held is Escrow until closing.
    You are now in Full Contract.

    Be sure to keep copies of contract for yourself. Buyer’s attorney will order a title search of your property.

  4. 4Mortgage

    Buyer will send contract to their mortgage company. Mortgage company will set up an appraisal of your property and request a termite inspection (if not done at the time of engineer’s inspection) After the appraisal and final review (underwriting) of buyer’s loan, the bank will issue the mortgage commitment.

  5. 5Closing upon completion of all of the above, the bank and both attorneys will set up your closing date. The buyer and their agent will complete a final walk thru of the premises the day before or the day of closing.

    You will need to contact the utility companies, ie: electric, water, gas, oil, cable and telephone. Give them the date of transfer so the new owner can put the utilities in their own name.

 
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