Although a real estate agent usually handles the pricing, marketing and negotiating, there are several additional steps to closing the sale once the the purchase and sale agreements have been signed.
Step 1--Removing contingencies: The most common contingencies are financing and the sale of thee buyer's current home. These conditions must be removed or waived before the sale can be cloosed.
Step 2--Appraising the property: The buyer's lender requires a formal appraisal to confim the value of the home, to be used as collateral to secure the loan.
Step 3--Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds and so on.
Step 4--Signing closing documents: Even after both parties have signed closing documents and deposited funds, the sale may take a few more days to close.
Step 5--Recording the deed and disbursing funds
Step 6--Receiving proceeds and welcoming the moving van
Step 7--Turning over the keys to the buyer.
Labels: How-to, Newsletter Info
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