The buying and selling processes are far from simple; not only are these transactions usually the largest financial transaction individuals make, they are complex, sometimes taking as many as 200 action steps to complete performed by more than 50 people on either side of the transaction.
The selling scope includes establishing Fair Market Value, inspections, repairs, home preparation, procuring HOA documentation, staging, marketing, listing contract, disclosures, offer analysis and the escrow process.
On the buy side, there is the lending function, assessing the condition of the property and estimating Fair Market Value, assessing HOA’s, reviewing disclosures and inspection reports, making the offer, negotiating the contract, procuring insurance and conducting the walkthrough.
The number of different professionals involved is mind-boggling including agents, brokers, lenders, bankers, attorneys, 1031 specialists, probate court, HOA’s, printers, appraisers, inspectors, plumbers, electricians, flooring specialists, painters, contractors, exterminators, marketers, photographers, house cleaners, landscapers, accountants, utility companies, transaction coordinators, administrators, county planners, insurance reps, escrow personnel, signage firms, printers, postal services, hazardous reporters, stagers and auditors.
With years of experience in developing quality processes, Fred has constructed simple charts, which help clients quickly understand what’s involved, where the usual “bumps in the road” are and what he does proactively to avoid those “bumps.” One of the key concepts in quality process training is not only how best to solve problems but how to avoid repeating them. Fred takes more pride in avoiding problems than solving them although he is an excellent creative problem solver and negotiator.
To get a sense of what comprises a smart way to buy and sell, Fred has provided summaries of the buy and sell process under this tab.