quoted by a competent repairman. This will further inform potential buyers and may be negotiating points.
WHAT TO EXPECT DURING A CLOSING
The process of transferring ownership and possession of the property to the buyer requires multiple steps. This process is generally easy, as the complex parts of the transaction (i.e., preparing the home, listing, showing, and ultimately reaching an agreement with a buyer) have now been completed. Still, there are items to monitor and attend to during the closing process. During this process, it’s best to communicate regularly with the buyer or seller, depending on your role, to ensure that the sale agreement's requirements are met.
IMPROVING OR REPAIRING THE PROPERTY
If you have agreed with the buyer to improve the property or make repairs, such as repairing a leaky roof or upgrading the electrical box, be prepared to do so as soon as possible after the agreement is made. Improvements and repairs must be scheduled, inspected, and completed before closing, unless otherwise agreed upon between the buyer and seller.
SETTLEMENT AND YOUR SETTLEMENT A TLEMENT AGENT
The actual sale between the seller and buyer takes place at a “closing,” also known as a settlement. Settlement refers to the process of transferring ownership of real estate from one person or entity to another. Ownership in real estate is determined by who is on the title. A title is a legal term for a bundle of rights in a piece of real estate in which a party owns a legal interest. The rights in the bundle may be separated and held by different parties. The title also refers to a formal document that provides evidence of ownership. Settlement or closing refers to the process of transferring
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