From a seller point of view, closing on a home is sometimes the toughest and most complex part of the whole selling process. A seller might think they are out of the woods once the offer has been made, and the home is in escrow, but the joke then is on them. Closing a home is a complicated event that takes determination and persistence.

Once the offer or counter offer has been accepted by both the seller and the buyer, then both parties will have different roles and agreements they will need to abide by summed up in the selling contract. Of course the contract will be worthless if the buyer cannot through any means obtain the financing for the offer, totally nullifying the whole transaction up to that point in the process. Because it is so time consuming and therefore expensive to sell a home, having to go back to the drawing board and try and find new buyers is a super annoying thing to have to happen. Because buyers not being able to get financing is a common occurrence, sellers much prefer the buyers who have a letter of pre-approval.

Part of the selling agreement often includes a clause for the home inspection. In fact, most buyers, if they are smart or have any experience in any way will request a inspection and have it included in their agreement. More and more the buyer will have the seller pick up the tab, or lower the selling price or agreement price if the inspector finds any major flaws. In fact, many stories have come out in recent years of buyers being completely saved by the inspection as the home was actually condemned after critical defects were discovered during the inspection. The inspection is a absolutely absolute and critical element of selling the seller must be aware of.

The last hang up for sellers when trying to close on their home is the hassle and problems the bank or financial institution will through up to make sure the home is going to be safe. For example, the lender will want to make sure that the home has enough value to back up the amount that the seller is wanting. To do this they will have the home appraised. Sadly, too often the appraiser will not spend sufficient time investigating the home and under value it hurting the seller. The financial institution will most likely take extra time as they have a bunch of different insurances established with the buyer.

Once the agreements are met and the home is all prepared to be moved, the closing happens. Closing is when both parties come together and make the actual transaction take place. The closing agent will make sure the title is properly recorded in public records and that everything is in order. The taxes will be compensated for as well at closing. Meaning if the seller is ahead on their taxes, the money will be paid back to the seller and also the other way around; if the taxes are lagging the buyer will be compensated for the money.

Being persistent and consistent and finishing strong is the true recipe for success for a seller trying to close on their home.

Author Bio: Juhlin Youlien writes about Fountain Hills AZ homes for sale and Paradise Valley AZ homes for sale.

Category: Real Estate
Keywords: homes for sale, real estate, buying a home, selling a home, loan, mortgage, foreclosurehomes for sal