an agent, they will provide these and help you determine your "offer to purchase" price. A purchase offer can evoke three possible responses from the seller. First, the homeowner might accept your offer as it is. Second, he might counter the offer with minor or major changes. Third, he might reject the offer altogether with a completely different counter proposal. To deal with the response effectively, you must review the new terms in detail and decide if you are comfortable with all aspects of the contract. It is OK to compromise on some details, but be sure you can fulfill the terms you are agreeing to. Always remember that home-buying negotiation is a professional business transaction, so don’t approach it with personal sentiments.
BUYING STEP #11: Th TEP #11: The Closing Process Begins
Also referred to as settlement or escrow, the closing process is highly automated and computerized. The process has changed over time and continues to evolve. Still, it remains a very important step in homebuying. During the review of the property’s ownership, there might be errors, unreported claims, or flaws in the review. Thus, the need for title insurance. During closing, all the prevailing transfer taxes must be paid. You must also settle all other claims, such as closing costs, legal fees, and adjustments. It is the responsibility of the closing agent to do the documentation regarding the loan. When compared to the other processes connected to home buying, closing is a brief one. It basically involves the completion of the transaction agreed upon.
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