A closing statement is a form used in a real estate transaction that includes an itemized list of all the buying or selling costs associated with that transaction. It’s a standard element of home sales, especially those that involve mortgages....
A real estate sublet is an agreement between two or more people who are both renters in which one renter agrees to rent his or her...
A real estate contract is a legal contract for the purchase or exchange of land and property between parties. Most real estate...
Closing day is the final step in what is often a lengthy process – also called “closing” – associated with a real estate sale. It can take a couple of months between signing a purchase agreement and reaching closing day. For homebuyers, closing is the day they officially take over owne...
A closing agent is a person or business that is charged with the coordination of a variety of activities necessary for completing the sale of a house or other type of real-estate property. It is the job of this person to ensure that all documents and records are completed properly. He or...
If you’re the buyer or the seller, let your real estate agent know that you’re interested in negotiating to increase the likelihood of reaching an agreement faster. What’s Included In Closing Costs? We mentioned “fees” as part of closing costs above, but what is included in closing ...
Dry closing is a situation in which a real estate buyer has signed all the documents relevant to a sale, but has not yet gotten...
The most fundamental real estate transaction is a “cash closing.” Real Estate agents find this to be the simplest of any closing processes. This type of transaction can be consummated by executing and reviewing a handful of documents such as a Settlement Statement, Seller’s and Purchaser’s...
Simultaneous closing is a real estate financing strategy in which two transactions occur together when closing a single property.
Closing costs must be disclosed by law to buyers and sellers and agreed upon before a real estate deal can be completed. How Much Are Closing Costs? Closing costs occur when theproperty titleis transferred from the seller to the buyer. The closing costs can vary by location and depend on ...