Page 35 - WCA Ketch Pen August 2020

Appraisal
An appraisal is only required in sales that require financ- ing and is a requirement from the lender to make sure that the agreed upon purchase and sale price is in line with market value. The appraiser may require certain things to be repaired or completed prior to closing. There is also the possibility for a low appraisal, which can severely complicate the transac- tion. Once a satisfactory appraisal comes in, the transaction is on its way to closing.
Move Out
The seller must complete any inspection repairs no later than three days prior to closing, remove all personal items from the property, and clean the house prior to close. Gen- erally, the buyer will do a walk-through prior to closing to make sure everything has been completed and cleaned prior to signing. After the day of closing, anything that is left on the property belongs to the new owner.
Closing
The seller signs prior to the title company receiving the buyer’s loan documents. The property will record by 5:00 p.m. on the scheduled day, but in Washington state the seller has possession until 9:00 p.m. on the day of closing, unless other- wise agreed upon.
The process can seem overwhelming, but if the seller asks questions, has hired the right Realtor, and is responsive, everything falls into place.
Public Lands Donations
Jack Field
Chase Hubbard Thank You for your support!
Ketch Pen www.washingtoncattlemen.org
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August 2020