After Listing Agreement / Entering Property in MLS Database / Marketing the Listing / The Offer and Contract / Tracking the Loan Process / Home Inspections and Appraisals / Closing Preparations and Duties / Follow Up After Closing

Hands Shaking

Offer and Contract

Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.

Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes

Counsel seller on offers. Explain merits and weakness of each component of each offer

Contact buyer's agents to review buyer’s qualifications and discuss offer

Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible

Confirm buyer is pre-qualified by calling Loan Officer

Obtain pre-qualification letter on buyer from Loan Officer

Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date

Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent

Fax copies of contract and all addendums to title company

When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer’s agent

Record and promptly deposit buyer’s earnest money in escrow account.

Deliver copies of fully signed Offer to Purchase contract to seller

Provide copies of signed Offer to Purchase contract for office file

Advise seller in handling additional offers to purchase submitted between contract and closing

Change status in MLS to “Sale Pending”

Update transaction management program to show “Sale Pending”

Assist buyer with obtaining financing, if applicable and follow-up as necessary

Verify inspections ordered

next > Tracking the Loan Process

The CRS designation, awarded by the Council of Residential Specialists, is the highest professional designation awarded to Realtors  in the residential sales field.