Considerations when closing the real estate deal
Once the negotiations are over and the offer is accepted then there is a time frame in which to complete the documentation and other functions that needs to be performed by buyer and seller before the deal is closed. Buyer should make sure that all the purchase contracts and documents are created and approved by a qualified attorney.
Buyer, if he or she is financing the deal through an institutional lender will have to make the relevant application. The buyer should make sure that the purchase contract includes a mortgage contingency clause which makes the closing of the deal dependent on securing of a credit facility. Buyer should keep in mind that in fact under such a clause he or she is duty bound to try his or her best to secure such a loan. Read more…
Categories: Philippine Real Estate, Real Estate Investment Tags: how to close real estate deal, manila real estate broker, real estate deals
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