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Buyers Want Your Home for as Little as Possible.
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Closing or Settlement >Final Arrangements
Some homebuyers approach the final days of the home sale transaction with great enthusiasm, feeling utterly confident that the end is in sight, and feeling completely organized about the move. They have accounted for every detail, contacting the moving company, arranging for the transfer of their telephone, electric, water, and gas accounts and having the home professionally cleaned. They start checking off the days until the closing on their calendar. But in reality, the closing may not be entirely predictable.
It is very useful for homebuyers (and sellers) to remember that closing dates are not set in stone. Lenders, appraisers, title attorneys, credit check services, and anyone else who is involved in the transactions can potentially cause a delay in the closing. If buyers keep this in mind while making arrangements, they can minimize the possible cost and inconveniences due to a delay.
As the closing approaches, the real estate agent will stay on top of the situation and keep in touch with everyone involved in the transaction to prevent any unnecessary delays.
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| Q |
Who is "Freddie Mac", and why is he a big name in real estate?
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| A |
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans. |
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