A real estate transaction begins with the signing of the contract. The real estate contract is typically long and confusing. The attorney will sit down and meet with the client and will explain the pros and cons of each clause of the contract. Afterwards, we will come to either agree with a contract or disagree. If we disagree, we will sit down and negotiate with the other side. Once the contract is finalized and both parties sign, the buyer will then inspect the property, looking in every nook and cranny of the property to see if there are any defects. If any defects are found, the seller will be given the opportunity to either make repairs or offer a credit to the buyer at closing. The buyer will also apply for a mortgage. Meanwhile the attorney will order the title and survey and will see if there are any other defects that need to be looked at. When the mortgage process is completed and the bank is ready to fund the transaction, the closing date is set, the parties come in, documents are signed, and title to the property transfers hands.
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