settlement: Real Estate Closing 101
- 09/18/08 05:31 AM
It might seem as though once a sale agreement has been signed that the selling process is complete. Not only is it not over yet, but some of the most complex aspects of a real estate transaction now begin. A sale agreement sets not only a purchase price for the home, but also a series of terms and conditions. For instance: Contracts routinely depend on the ability of a buyer to obtain financing, which is why most sellers prefer buyers with preapproval letters from lenders. A growing percentage of transactions involve a home inspection, or a physical review of the home … (9 comments)
It might seem as though once a sale agreement has been signed that the selling process is complete. Not only is it not over yet, but some of the most complex aspects of a real estate transaction now begin.;)
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