If the seller’s price is too high and not justified by the comps, be prepared to walk away. Knowing your limits—and sticking to them—is key to a successful outcome.
STEP 12: CLOSING THE LOAN AND RECEIVE THE KE AN AND RECEIVE THE KEYS
First, what is the closing process? In most cases, both the buyer and seller, along with their attorneys, and often their real estate agents are present in a professional office setting. Essentially, it involves everything that’s needed to make the home sale and home purchase complete, legal, and finalized. Although nearly pro forma (“done as a matter of form” or “standard”), the closing process (also referred to as settlement) is meant to bring all the parties involved to the same happy conclusion. Before the process of closing can begin, the buyer must inspect the property by performing a final "walk-through" with their agent. The final walk-through should occur within 24 hours of closing. During the final walk-through, the homebuyer and their real estate agent will inspect the property to ensure that everything is functional and that any agreed-upon repairs have been completed to a professional standard. This includes ensuring all appliances, fixtures, and systems (HVAC, water, toilets etc.) work. You should also check that any items that were included in the sale, such as appliances, lighting fixtures or window treatments, are still present and in good condition. The final walk-through is also an opportunity to check for any new issues that may have arisen since the initial home inspection. The closing process is actually a brief component, essentially involving the exchange of funds and signing of documents to complete the transaction to which all parties have agreed, based on the contract to purchase. The main “goal” of the closing process is to transfer the title of the property from former
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