the Sale
negotiating
Most home buyers and sellers want a win-win agreement. Start with a fair price and offer that is based on recent activity in the relative area. Understand the other side's priorities. Buyers might be willing to compromise on other terms and pay a higher price for them. Finally, be prepared to compromise.
acceptance
Once the buyer and seller are able to agree on the terms to a contract, all parties sign off and the contract becomes effective. From the effective date all timelines noted in the contract are contingent. Time becomes of the essence and each party must fulfill their duty as stated in the contract.
inspections
A home inspection is a thorough visual examination of the property. The inspection includes observation and, when appropriate, operation of the plumbing, heating, air conditioning, electrical, and appliances, as well as structural components: roof, foundation, exterior and interior walls, chimney, doors, and windows. Inspections often lead to another round of negotiation before closing.
closing
Also known as settlement, is in essence where the property is exchanged. Title to the property is signed over , all settlement statements are signed, and all monies are exchanged. The closing agent makes sure that the purchaser's title is properly recorded along with any liens.
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