From Offer to Closing: Here's How the Sales Process Works

Once you accept an offer, a verbal agreement is in place. When selling a home to a private individual, that agreement is not binding until both parties have signed the purchase agreement. Until that point, the agreement can still be renegotiated.

In practice, we immediately document the agreements in writing and ensure that the deed is ready within a few days. The shorter that period, the less likely there will be any confusion about exactly what was agreed upon.

The purchase agreement specifies the purchase price, the date of closing, the conditions precedent, and the list of items that are being left behind or taken with the buyer. That list is underestimated more often than you might think; uncertainty about the window shades or the dishwasher leads to awkward conversations on closing day.

After signing, the buyer has a three-day statutory cooling-off period. After that, only the agreed-upon conditions precedent apply, usually the financing contingency with a term of four to six weeks.

During this phase, the buyer arranges their mortgage and, if necessary, has the property appraised. Your role is limited to keeping the property in the same condition and providing the requested documents. We monitor the deadlines and maintain contact with the buyer and the notary.

Use these weeks to plan your own move and to cancel or transfer your current energy, water, and internet contracts. It sounds obvious, but it often doesn't get done until the last minute.

Shortly before the deed is signed, the buyer and seller walk through the home together. They check to make sure the home is empty and clean, verify that the agreed-upon items have been left behind, and record the utility meter readings.

Next comes the appointment with the notary, where the deed of transfer and the mortgage deed are signed and the keys are handed over. The amount is already in the notary’s escrow account; after registration with the Land Registry, it is disbursed, usually on the same day.