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A real estate transaction is the process that occurs when a seller offers their home for sale, and a buyer agrees to purchase that property.Before the closing can take place, and before the title of the property transfers to the buyer, a multitude of activities and tasks must be completed on time.
There are essentially four types of real estate contracts: purchase agreement contracts, contracts for deed, lease agreements, and power of attorney contracts. They each have different uses and stipulations.
Pre-Approval Is a Good Idea. Open an Escrow Account. Title Search and Insurance. Hire an Attorney. Negotiate Closing Costs. Complete the Home Inspection. Get a Pest Inspection. Renegotiate the Offer.
Pre-Approval Is a Good Idea. Open an Escrow Account. Title Search and Insurance. Hire an Attorney. Negotiate Closing Costs. Complete the Home Inspection. Get a Pest Inspection. Renegotiate the Offer.
Closing costs are all of the fees and expenses associated with the closing or settlement of a real estate transaction, and they can vary dramatically. The buyer typically pays the closing costs, while other costs are usually the responsibility of the seller.