Real estate tips: Real estate road map

Midtown Kansas City real estate marketsponsored post by Lauren Hruby and Scott DeVouton

Selling or buying a home can be overwhelming.  The process is stressful, a lot of money is involved, and it can feel like it goes on forever. Having a bird’s-eye view before you start can help. Knowing what each step means and when it will come gives you the chance to deal with manageable pieces.

To start, yes, there is a lot going on.  But take comfort in the fact that there is a process, an industry standard that each transaction will follow.  Your situation may get wacky, but at least it will happen on the same road everyone travels.

It all starts with the offer.  After a home is prepared to arrive on the market, and when it hits the market, the owner is ready to receive an offer.  An offer just sets out what a buyer wants to pay, date of possession, and other important terms.  It is usually accompanied by other signed documents, like seller’s disclosures and realtor documents.

Once received, an offer can be accepted, rejected, or met with a counter-offer.  A counter-offer is typical when the seller wants to propose a higher price or change other terms.  Once signed by all parties, the offer and the counter-offer set out the main terms of the entire contract. At this point, there is a flourish of activity.

The buyer now inspects the property, and there is usually a limited inspection time.  Once all inspections are performed, the buyer must decide what happens next.  If the inspections turn up problems, the buyer usually asks the seller to deal with them or reduce the price.

Now is also when other professionals are brought into the deal.  Title and escrow agents, bankers, contractors, insurers and possibly realtor assistants may all need something from you or your agent.  Between scheduling, cost of repair and financing requirements, this is the point at which things can feel crazy.  The good news is that everyone is working toward one goal, closing your deal, and your real estate agent will take a lot of work off your plate.

As everything comes together, your real bottom line will emerge and the closing date will be locked in.  Costs of repair, transaction fees and mortgage numbers will be included in your U.S. Dept. of Housing and Urban Development “HUD-1” statement associated with financing.  If it’s a cash deal, you’ll check items off your list as you approach closing.

Closing day is always exciting.  It’s at this point where the seller officially sells the home to our lucky buyer.  Closing involves a ton of paperwork, and can take a little time. If you’ve taken care of each of the prior steps, it will be a breeze with no surprises. Usually the seller and buyer sign documents at different times, either at a title company’s office or another location.

When finished, you get to enjoy that fun walk away from a job well done, having known the process before you started.  Good luck, and happy moving!

Lauren and Scott are with Lauren Hruby Real Estate, Keller Williams Realty Key Partners, LLC.  They work with people looking to sell or buy a home in the Kansas City area.  For more information, visit or call 816-529-6174.

One Comment

  1. I highly recommend these two on Midtown residential property. They combine great competence with delightful personalities so working with them is a joy!

Leave a Comment