Getting Ready for Showtime! Part 2 of a series

In the previous entry in this series: Getting Ready for Showtime! Part 1 of a series

I made a list of the various things to do to get ready for "showtime".

First up are: Title Inspection and Home Warranty

You are under contract with the Seller to represent their best interests. Two items to be done immediately and concurrently are a "Title Inspection" and placing a Home Warranty on their property.

By "Title Inspection" I mean having your preferred Title & Escrow company run the property through their system to see what "clouds" may exist - and I don't mean Active Rain Clouds! While a Seller may think they know what they owe on the property, and can provide you with a recent loan statement, that won't paint the complete picture. The Seller may be unaware of pre-payment penalties on the loan(s). They may be unaware of any Mechanics Liens on the property. You need to find out ASAP if there are going to be any roadblocks to closing escrow due to title "issues".

Case in point: A client of ours - the widow of Bob M. who ran the car service I used before I retired from the Corporate America 2-3 roundtrips a week out of Phoenix airport - wanted to sell the house Bob had owned for over 30 years. As far as she knew, the property was free and clear. A title search revealed a lien of $60,000+ on the property to do with a bond issued to Bob when he owned a travel agency. The bank involved was no longer in business. It took 6 weeks for the title agency to get the records found, and confirmation that the lien was in fact cleared long ago!

A Seller's Home Warranty protects your Seller during the Listing period and costs ZERO - the Home Warranty companies offer the FREE Seller's Home Warranty in the hope that at Close of Escrow the Buyer or the Seller will purchase a Home Warranty for the benefit of the Buyer. There is no obligation on the part of anyone to purchase the warranty if they don't want to - although in my opinion it is a big plus to put one in place for the minimal $300 to $400 investment.

In Part 3 of this series we'll explore the Home Inspection. Stay tuned!

If you are considering selling a home or real estate in the Phoenix area you owe it to yourself to talk with The Marriott Group at Keller Williams Realty Professional Partners to determine whether Tony Marriott is the best real estate Broker in Phoenix area to help you with the sale of your home.

http://www.phoenixarizonahomesearch.com/

http://www.marriottrealty.com/

http://www.greaterphoenix-scottsdale-homesearch.com/