When you sell your home, you may be subtracting the amount you owe on your mortgage from the sales price and counting the difference as the cash you’ll make from the deal. But it’s not quite that simple. Both the seller and buyer must pay certain closing costs from the sales proceeds. What the seller… Read more »
Sometimes in a home sale, the buyer asks to take possession of the property before closing. Most real estate agents discourage this practice because it’s risky for the seller. If you decide to allow your buyer to take early possession, you must protect your interests. Here’s what you need to know. Potential problems with early… Read more »
Closing on a new home may feel like reaching the finish line. But before you kick back and relax, take these important steps to settle into your new place. Matters to take care of before closing After you sign a contract to buy a new home, ask the seller for a report on a year’s… Read more »
When you close on the purchase of a house, it seems the stream of documents will never end. Closings can easily involve 100 pages of records. It’s a fact that, for most people, their home is their biggest investment. That’s why homeowners should keep important closing documents. After the writer’s cramp eases, what do you… Read more »
A house purchase is often the first time most people find themselves in need of an attorney. Your real estate agent will likely recommend several, but it’s up to you to make the final selection. In some states, the title insurance company will handle the closing; in others, it will be an attorney. Here’s a… Read more »
Home repair issues that show up on an inspection report are up for negotiation. It’s up to the buyers and sellers to hammer out an agreement on who pays for what. Here’s a guide. The inspector is your friend. Sellers often dread the inspection report, fearing it may reveal a major issue that could block… Read more »
As a seller, just because you’re under contract doesn’t mean it’s time to relax. It’s a bit like reaching the summit of a mountain. You’re only halfway to the finish line, which in this case is the closing table. The due diligence period, typically the 15 to 30 days following contract signing, is the first… Read more »
When a home is listed for sale with a real estate company, the seller is ultimately agreeing to pay both the listing agent and the buyer’s agent and their respective companies. In some cases, the commission may be a percentage of the sales price or it may be a flat fee. When and how the… Read more »
The moment a sales contract is signed, the clock begins ticking for both buyer and seller to fulfill contractual obligations. The seller must provide important documents to the buyer. Many, but not all, of these items, are procured by the title company or attorney hired to facilitate the transaction. Items the seller provides. A title… Read more »
As a home buyer, you’ve come a long way. Your offer was accepted, the home has been inspected, the financing is complete, and you are about to close. There’s just one more crucial step: the final walk through. Here’s why it’s important. Timing. Shortly after you signed the sales contract you should have had the… Read more »
