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Negotiating an Offer
There is always some negotiation in buying and selling property. When an offer comes in you have three choices --accept it, counter, or reject it. A counter is really a rejection and the buyer has no obligation to the contract once a change has been made. Price will be the main focal point of the offer but there may be other details that you will want to look at very carefully. These include down payment, earnest money, date of close, date of possession, inspections, closing costs, what personal property is included in the sale, etc.
I will go through the contract with you very carefully and explain all parts of it in detail and help you through any negotiations. Once an offer is accepted, the escrow process begins. You will choose what title company will be handling your escrow. The title company will be sending you and the buyer a Preliminary Title Report on your property for your review. They will also be working closely with the buyer's lender to make sure there are no unnecessary hold ups. You will need to provide the title officer with your mortgage information so that they can order existing loan payoff demands.
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