stipulated in the offer of purchase.
An escrow agent or the seller's attorney who specializes in this period and process will be involved. The agent serves as a third party who enjoys a neutral state between seller and buyer, and helps provide assurance to both parties. The agent is also heavily involved in the actual transaction to ensure the clauses of the offer will be met completely, accurately, and satisfactorily. Further, the escrow agent serves as the manager of the trust account that holds the funds that will cover the value of the transaction. The money collected from the buyer is held in escrow until the seller completes his or her obligations and transfers the title over to the buyer. After this transfer is authorized, verified, and completed, the payment is then remitted to the seller. The “earnest” money can be used to cover some of the down payment, the purchase price, and the closing costs.
STEP 11: NEGOTIATE WITH THE S TE WITH THE SELLER
Negotiation is one of the most critical—and challenging—parts of buying a home. Sellers want top dollar; buyers want the best deal. This push and pull is where strategy matters. A skilled buyer’s agent is essential here. They’ll guide you in reviewing comparable sales ("comps") to assess the asking price and build a strong offer. Citing those comps in your offer can show the seller you’ve done your homework, strengthening your position. Your offer may be accepted, countered, or rejected. A strong negotiation strategy—built with your agent—helps you respond effectively. Know your max budget, understand the market, and decide how much the home is worth to you.
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