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Todays Top Tip for Selling Your House
There are a Lot of Steps Between A and Z
So you've received an offer on your house! Congratulations, this is the first step in a long and sometimes complicated journey to the closing table. This is the beginning of a process ...with plenty of ups and downs along the way.
Not long ago, it was straightforward and painless for the Seller. Just sit back and enjoy the ride to the closing table. But, with the collapse of financial markets and the rise in foreclosures, banks have added more twists and turns that your Buyer must navigate. Your Action Real Estate listing agent is up to date on these changes and will guide you along the way.
Some challenges where you should plan for delays, dilemmas and indigestion are:
during the negotiation process
during or after inspections
during the loan commitment phase
during the conditions to close phase
Your Action Realtor® can help make the first two items relatively smooth, however, the loan commitment and conditions to close phase can be difficult for your Buyer. Be prepared for loan commitment and closing date extensions, now common, as banks tighten their belts.
While lenders once made it easy for unqualified buyers to obtain financing, todays underwriters are very conservative and inflexible. It's common for last minute information to be ordered, right up to the day of closing. Often these requests are difficult to obtain on short notice, and can be frustrating to everyone from the Buyer and Seller, to the Realtors®, abstractors and attorneys.
If you follow your Realtors® guidance, you can prepare yourself in advance for these eventualities, lessening the frustration and stress along the way.
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