What Does a REALTOR do in a Sale? (Part 5 of 6) |
Dec. 27, 2006
Categorized in: Role of a REALTOR
Here is the next post in this 6-part series. If you missed any of the earlier posts, you can read them here (Part 1, Part 2, Part 3, and Part 4).
Tracking the Loan Process
- Contact lender to ensure all necessary information has been provided
- Follow loan process through to the underwriter and contact lender (or buyer’s agent) weekly to ensure processing is on track
- Keep seller informed of status of loan
- Relay final approval (i.e., loan commitment) of buyer's loan to seller
Home Inspection
- Coordinate buyer's home inspection with seller's schedule
- Attend home inspection as seller’s representative
- Review home inspector's report (if shared by buyer - required in some states but not all); provide feedback to seller
- Find out from Buyer's Agent if buyer is going ahead with the deal, and what, if any, repairs or adjustments are being requested in writing
- Discuss requested repairs and/or adjustments with seller and communicate response(s) to buyer’s agent
- Ensure seller's compliance with Home Inspection Clause requirements
- Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs
- Negotiate payment and oversee completion of all required repairs on seller's behalf, if needed
- Provide necessary documentation to buyer to show completion of repair work
Stop back later this week for the final post in the series.

Here are some more suggestions for coping with selling in a buyer's market: