Buying or Selling? This One Thing Can Make or Break the Deal
It’s fairly common to find articles that are specific to either buying a home or selling a home, however, often times people may not realize that there is one key component that can affect both the purchase and sale of real estate. Time is of the essence when it comes to real estate and can affect both the purchase and sale in either a negative or positive way.
In any real estate transaction, there is a lot of heavy lifting, documentation, fees, titles, and paperwork that takes place behind closed doors, because of this, when it comes to purchasing or selling a home, your effectiveness to supply lenders with documentation, signatures, etc. will play a vital role in the efficiency and timeliness of closing the deal.
When it comes to purchasing a home, should you not provide the needed documents to lenders, you may be required to move back your closing date, something that can negatively affect both parties. In this scenario, the homeowner is now responsible for the home longer than anticipated, and the buyer won’t receive keys as early as expected often creating financial hardships and housing dilemmas.
In rare cases, either the buyer or seller can back out of the deal if they are not satisfied with the timeliness and efficiency that is being put forward. For the buyer this could result in forfeiting your Earnest money, a loss of thousands. While there can be ramifications should this problem arise, it isn’t something that cannot be done and can leave one, if not both parties, in quite the predicament.
Whether you are looking to purchase a new home or sell your current home, make sure that you are prepared for the amount of work that will be required of you. It is crucial that in any real estate dealings, you hire a highly reputable real estate agent so that they can assist you throughout the buying or selling process. With the right agent by your side, you will have someone to help you dot the I’s and cross the T’s to ensure that your purchase or sale is not only done effectively but efficiently and most importantly, timely.