Off-Market Sale

Marketing Your Home To Existing Unlocked Buyers

At any given time, Unlocked’s team of Lead Agents are working with hundreds of active, motivated and well-qualified home buyers. Given the exceptionally competitive nature of the current real estate market, virtually all prospective home buyers welcome the opportunity to purchase a home ‘off-market’ without the stress, uncertainty and lack of transparency inherent in the traditional sale process.

Unlocked will circulate a summary of the key features of your home to our extensive list of active buyers. An Unlocked Agent will also be available to help facilitate an in person showing of your home for qualified prospective buyers who express an interest in making an offer.

Evaluating Any Off-Market Offers Received

Your Unlocked Sellers’ Agent will help you review and evaluate any any offers received. To prevent any conflicts of interest, buyers expressing an interest in your home will be represented by different Unlocked Buyers’ Agents, and all parties will negotiate at arm’s length. Should you decide to engage with an off-market offer, your Unlocked Sellers’ Agent will ensure you receive the absolute best price and terms possible, guiding you through the negotiation and counteroffer process every step of the way.

Accepting an Off-Market Offer

If and when you decide to accept an off-market offer for your home, your Unlocked Agent will ensure that all necessary offer documentation is complete and correct; this includes both the purchase contract for the transaction and ancillary documentation such as buyers’ proof of financing and mortgage approval documentation. Upon execution of the purchase contract, your Unlocked agent will share a detailed overview and timeline of the escrow and closing process, and will continue to work closely with all stakeholders to get to closing as quickly and smoothly as possible.

Finalize Purchase and Sale Terms

The purchase and sale of a home is a complex transaction, and the contracts that govern the sale contain a variety of important terms and conditions. In addition to the purchase price, buyers and sellers will have to specify whether certain contingencies will apply to the sale, details regarding anticipated financing for the purchase, escrow timelines and anticipated closing date, and closing cost allocations, among many other terms.

Your Unlocked Agent will work to ensure that all terms of the transaction are clear, transparent, and agreed by the parties.

Complete Purchase Agreement

Once the transaction terms are agreed and finalized, your Unlocked Agent will ensure all terms are correctly documented in a standard Purchase and Sale Agreement. As a fully licensed brokerage and member of both the California Association of Realtors and National Association of Realtors, Unlocked is able to provide access to all necessary libraries of transaction contracts and related documentation.

Once the Purchase and Sale Agreement has been finalized, it can be signed electronically by all parties. Once signed, you will officially be in escrow for the sale of your home!

Opening Escrow

Once a contract has been signed for the purchase of your home, the period from signing until the transaction is officially closed is known as “the escrow period”. Your Unlocked Agent will work with a third party escrow and title agent to set up (or “open”) the escrow. The escrow agent will serve as an important partner as the parties work to ensure the sale transaction is completed as quickly and smoothly as possible.

A variety of important tasks must be completed during the escrow period, including:

• Ensuring that a buyers’ mortgage lender is working diligently to complete the buyers’ loan
• Planning for the disbursal of transaction funds at closing (e.g., payment of outstanding mortgage amounts, taxes due, HOA payments, etc.)
• Extinguishing any outstanding liens or encumbrances on the property
• Drafting and signing closing documentation

Working with Buyer’s Lender

Your Unlocked Agent will ensure that the buyers’ lender is working diligently towards a smooth and on-time closing. Lenders will require an independent appraisal of the home, which your Unlocked Agent can help coordinate. Additionally, the lender and buyer will need to work together to ensure all closing conditions for the buyers’ loan are met in a timely manner, such as final verification of financial and employment information, the purchase of homeowners’ insurance, appraisal approval, and title review. Your Unlocked Agent will assist as needed with these important tasks.

Closing Escrow and Recording the Sale

Once the buyers’ loan has been approved and any other closing conditions have been met, final preparations for closing can begin. The escrow officer will arrange for sellers and buyers to sign and notarize the necessary closing documents, including the ‘Grant Deed’, which is official legal document that transfers ownership of the home from you to the buyers. When all conditions are met, the escrow and title company will file the Grant Deed in the county recorder’s office, which will mark the official closing of the transaction. Escrow will “close,” with the proceeds of the sale disbursed as applicable, and all parties will be notified that the transaction is complete!