Bahamas Luxury Real Estate & Homes for Sale

How To Get All Parties To A Real Estate Transaction To Close On Time

Bannerman Town

 

It is unlikely to find a buyer or seller who enjoys dragging a sale for longer than the estimated timeline. It costs more money, takes away precious time and prevents you from attending to other important business or personal affairs on the agenda. 

Partnering up with a well-recommended expert in real estate gives you the benefit of finally selling your property that’s been on your hands, or officially being able to move into this lovely home you’ve finally purchased for you and your family. However, the business of real estate is not all black and white. In this case, there are grey areas that need to be attended to, getting both buyer and seller to close on time. 

In order to close a real estate transaction on time, there needs to be a plan of action. This needs to be suitable for both parties. Not only are there liabilities that come with rushing unfinished business, but if there are certain legal and technical aspects not correctly looked into before closing, it’ll take up more resources and time for both parties in the future, therefore closing needs to be done efficiently and be dealt with delicately. 

Professional real estate agents have gone through this obstacle plenty of times. Not everything goes according to the timeline set, but there is always a plan that can be made to ensure a timely transaction. For example, having all parties involved meet to discuss the fulfilment of the contract in question. Being able to verbally discuss and hear opinions on how things can be dealt with may open the door to a faster and more viable closing plan. 

Ensuring that your agent has a keen sense of urgency and keeps you informed goes a long way. 

Purchase agreements, final inspections, mortgage loan approvals, insurance and disclosures are all part of the finalised paperwork plan. Should the agenda of a clear transaction be met and concluded, the listed agreements and approvals are required to close the transaction. In most cases, property owners and potential buyers hire accountants and property lawyers and even use their involved estate agents to assist with the fine print. It is best to seek professional advice, preventing the unnecessary waste of time of going back to steps taken before closing. 

Leave a Reply

Your email address will not be published. Required fields are marked *