Post Closing The Deal… What Else?

Now that you’ve already know the questions to ask yourself before accepting an offer, you’ll need to figure out what exactly to do right after you close the deal. But before you do that, support our sponsor by clicking on this banner –

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Just last week I managed to sell of two of my longest standing stocks, a duplex unit in Menara Pinang in KLCC and a studio unit in Sunway Vivaldi.

Selling your house without the help of a real estate agent can be very rewarding. You don’t have to share your earnings from the Malaysian home sale at all, and that’s a perfect way to define how something is very rewarding. Second of all, doing things FSBO gives you that certain feeling of accomplishment; that without the aid of a certified professional, you have accomplished all of the very difficult parts of home selling.

However, just as rewarding the FSBO experience is, it is also very challenging and can get very confusing for beginners. Oh, and please don’t forget about how very difficult it can be to curb your emotions when you get the very first offer and when you’ve closed an actual deal. And your relative cluelessness, assuming that you’re a first time FSBO home seller, might cause you tons of confusion as to what your next step should be.

So What’s Next?

And so here are some tips on what you should do next when you’ve accepted your buyer’s offer and you’ve practically closed the deal:

First, go to your real estate lawyer. A closed deal won’t ever be fully closed until you get your real estate attorney’s precious signature. So go and run towards your real estate lawyer to get every single paper work done and ready for the signatures. Don’t forget to bring your  signed offer to your attorney – that way, all the contingencies and other facts can be translated into the actual contract.

Next, go to your buyer’s mortgage lender. Set an appointment, bring the offer and the other proofs that your buyer is their client, and let them do the rest. I’m sure you did not let your house go without seeing a pre-approval from the Malaysian mortgage lender right?

In the meantime, prepare to move out. Depending on what you and your buyer have agreed on, you might have to make sure that you are more than ready to move out as soon as possible. You cannot be running around in haste when your buyer starts knocking on your door and decides to move in. Talk about getting your house getting ‘move-in’ ready, huh?

Settle all of the paperwork on your end, especially anything that concerns the land title. This is one of the most, if not the most important document related to home selling and home buying. This should, naturally, be your top priority as far as paperwork is concerned. Have everything, the deeds, the transfers, and all the title-related paperwork ready for transfer to its new owner.

Finally, remove all the necessary affiliation on the said address. Since you’re moving out and someone else is moving in, make sure your light, telephone, water and other service companies are informed. Oh, and that goes without saying that all your bills should already have been paid for before you leave. The last thing you want is your home buyer running after you for unpaid bills and bad client history!

So, are you ready to close the deal and move out? If you need help, contact SpringsRealEstateNetwork and we will help you. Our contact details are here.

Questions to Ask Yourself Before Accepting an Offer

Every home owner trying to sell his home lives for one thing in this phase of his home owner life: to get the Malaysian house sold. And the biggest step to get into that very important part of the process is getting an offer and closing it.

And…. Here’s Help

But before you jump for joy over the prospect of getting your first offer and sealing the deal, there are tons of things that you have to consider before you seal the deal. See, when it comes to getting an offer, it is more than just the numbers.

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Here are some of the things that you might want to ask yourself (or share with your realtor) before accepting any offer on the house:

  • Is it going to be bought in your asking price or at least within your comfortable range of negotiable price? This is the biggest factor about selling a Malaysian house and getting an offer so make sure that they (prospective buyers) want and are willing to pay for the house at the price that you’re selling it. Remember, once the deal is inked, you can’t change anything or ask for anything more. There’s no room for regrets here!
  • What are the contingencies indicated in the offer? Contingencies are the conditions on the offer and contract that would get the deal closed. As soon as these conditions are met by both parties, the deal is considered closed and the payment is to be expected. Usually the contingencies include home inspections and home repairs for the side of the home seller. Read this carefully to make sure that it is fair for you as much as it is fair for the buyer. Don’t forget to make your own conditions for finalizing the sale known to the other party as well so it makes it to the offer.
  • When is the payment going to be made? It is your right to know just exactly when you are getting your payment otherwise you might end up partially selling your Malaysian home by accepting an offer that does not say when the payment is going to come anyway. It’s like being in an open, unlabeled relationship – an awkward phase at best, a tormenting and uncertain wait at worst.
  • How am I going to get paid? You have every right to know how you are getting your payment: are you getting it in full cold cash, or is it going to come in parts from a financing company? Make sure these are made clear in the offer as well.
  • Am I happy and content with this offer? You may be getting everything right on paper but you may not exactly be the happiest person about it. Whatever it is, it would be to your advantage to actually ask yourself if you would be happy to sign that contract and hand over that house. After all, that’s what matters most – if you’re happy with it or not.

Go over the offer, wait for another offer a bit, consult as many lawyers and as many realtors as you can, and make the right decision. Good luck!