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Once you have accepted an offer
to sell your home, your real estate agent will inform you of
all the procedures involved in order to proceed successfully
to closing, as well as the parties responsible for completing
those procedures and estimates of completion. For instance,
the property may need to be formally appraised, surveyed,
inspected or repaired. Depending on the specifics reached
during the negotiations, you may pay for all, some, or none of
these items.
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Your agent will then coordinate
with all the parties and keep you informed as to the results
of the various procedures. If each procedure returns
acceptable results as defined by the contract, then the sale
may continue. If there are problems with the property the
terms set forth in the contract will dictate your next step.
Depending on the contract, you or the buyer may decide to walk
away, open a new round of negotiations, or close. Your agent
will advise you throughout this process and will help you
coordinate any actions you must take to keep the sale moving
forward.
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There are some sales that go
smoothly and some that require a lot of work to get to the
closing table. Until you get into it, you won't know which one
you have on your hands. Either way, your agent will be there
with you every step of the way.
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