Denise Dutson's Blog
54 James Circle , Mashpee, MA 02649
19 Great River Road , Mashpee, MA 02649
Selling a home takes patience. Especially when you’re balancing your time between settling into your new home, and keeping up with your work and family life. So, when you’ve finally gotten to the point of accepting an offer on your home, you’ll probably breathe a sigh of relief--and you should! However, there are still a few more things that will need to happen and a couple of things to consider before closing the deal on your home sale.
Contingencies on the purchase contract
A purchase contract typically includes contingency clauses that are designed to protect the interests of both the buyer and the seller. These clauses mean that the contract is contingent upon the actions being completed before it can be legally valid.
There are three main contingencies that will likely be included in the purchase contract before closing--inspection, financing, and appraisal.
The inspection contingency allows the buyer to have the home inspected by a professional before closing (the time should be specified within the contract, but the inspection should usually occur no more than two weeks after you accept the offer). A home inspection lets the buyer know what to expect in terms of repairs that the home needs now or will need in the near future.
Since the vast majority of buyers will be purchasing their home through a loan, a financing contingency is included to allow the buyer time to secure their mortgage. Getting pre-qualified and pre-approved makes this process easier, but the buyer will still have to finalize and close on their mortgage before their financing is official.
This clause exists to protect the buyer in the event that their mortgage application is denied, ensuring that they aren’t penalized.
The third contingency most often found in purchase contracts is a home appraisal. The buyer will order an appraisal and then the appraiser will reach out to you to find a day to come and value your home.
If the home is then appraised at the amount agreed upon in your contract, this contingency is met. However, if the appraisal comes up lower than the purchase amount, the buyer can renegotiate the price.
Walkthrough and closing
Once the appraisal and inspection have been met and financing secured, the buyer will have a chance to do a final walkthrough of your home. The walkthrough usually occurs no more than two days prior to closing on the sale. A walkthrough allows the buyer view the home one last time to ensure that the condition of the home hasn’t drastically changed since the home was inspected or appraised. So, make sure the buyer is aware of any changes you planned to make to the home before closing.
Now you’re ready to close on your home sale. You’ll receive a disclosure form to review (read it carefully!) and sign. Once closing is complete, ownership of the home is officially transferred to the buyer.
While the closing process does include several steps, it’s important to be available and cooperative along the way to ensure a smooth sale and transition into your new home.
Keeping your home secure is a lot like maintaining a healthy lifestyle: If you prioritize it and develop good daily habits, then your chances of staying safe and healthy are vastly improved.
While there's no ironclad security strategy that's absolutely fail-proof -- especially when you factor in the element of human error -- the following security tips will help make your home a safer and more secure place for you and your family.
- Awareness is the key. Don't be lulled into a false sense of complacency. Although your sense of well-being depends, in part, on having an inner feeling of safety and security, it's still necessary to lock your doors, be aware of your surroundings, exercise a moderate amount of caution, and follow a few commonsense guidelines. Even if you're fortunate enough to live in a "safe neighborhood", there's still an element of unpredictability that should always be kept in mind. In reality, it's not that unusual for a nice neighborhood to be targeted by burglars. Granted, it doesn't happen very often, but it only takes one incident for your belongings (and peace of mind) to be stolen by intruders. As the old expression goes, "An ounce of prevention is worth a pound of cure."
- A barking dog can often be an effective burglar deterrent. Since most dogs have a natural inclination to bark at strangers and intrusive noises, having a dog in the family can be a valuable part of your overall home security program. Any kind of effective alarm system, which can include a barking dog, will instantly make your home a less desirable target for burglars, con artists, and other miscreants.
- Flood lights also help deter residential crime. While burglars may not necessarily have a clear-cut plan for breaking into your house, garage, or storage shed, you can be sure they do not want to be noticed, observed, or paid attention to in any way. Motion-activated flood lights or other types of alarms can be especially effective, since these devices trigger an immediate response to an intruder's presence.
- Home security systems are worth researching. People come up with a lot of excuses for dismissing the idea of installing a home security system. Some say they can't afford it, while others claim they're hopeless technophobes, and couldn't possibly figure out how to program or operate a security system. At the very least, it's a good idea to educate yourself about the available options, prices, and technical support. Once you've taken the first step, proceeding forward will feel a lot easier and less intimidating.