One of the great benefits of selling a home using the Savvy Seller Strategy is that you will always know what to expect when once your home is under contract, and you are as assured of as smooth a closing as possible. The buyer’s due diligence or inspection period will pass quickly and uneventfully, as it’s very unlikely they will discover anything about the property that wasn’t already disclosed to them.
Also, your buyer should be someone who is well-qualified from a financial perspective; they will have been vetted to assure that they have a strong and legitimate pre-approval letter from an experienced, professional mortgage broker. In addition, if the property were priced perfectly and the marketing campaign is executed to its full extent, it’s likely that multiple offers were received on the property, and that a backup buyer is in position to both keep pressure on the contracted buyer and can immediately replace that buyer if need be.
The buyer’s contingency period – for due diligence, inspections, loan, and appraisal – will in almost all cases end within 3 weeks, and often less than that. This is the time of the greatest uncertainty in any real estate transaction, as buyers do not typically release all their contingencies and fully commit to the sale – and put their deposit at risk – until they know for sure they can seal the deal. With the Savvy Seller Strategy, however, you will enjoy the least amount of uncertainty as is possible in the home selling process, and this contingency period should sail by uneventfully on the way to a successful closing.