The Insider's Guide To Selling Your Home By Owner- Rocio Fausto I | Page 93

point to help you along the way, because negotiations can be very
complicated.

Step 6: The Closing Process.
Hallelujah! You’ve worked through negotiations with your
buyer. All i’s have been dotted and all t’s have been crossed on
your legally binding contract. Now it’s time to get ready to close
this puppy.
This part, you absolutely cannot do alone. You’ll need to
hire a lawyer, an escrow holder or a title company to function as
your closing agent. Depending on your needs, and those of your
buyer, you will likely close in 30, 45 or 60 days.
Using an Escrow Holder. Often, contracts in real estate
require an escrow holder. The escrow holder is a third-party, and
is impartial to the outcome of the transaction being made.
Both buyers and sellers are protected with this kind of
arrangement. Legal protection is allowed everyone involved in the
transaction during the closing process.
Usually, the escrow holder handles each of the necessary
steps throughout the closing. Keep in mind that there are
alternatives to an escrow holder depending on the location in
which you live.
Using an Attorney. Again, real estate laws vary by
location. Many necessitate the use of a lawyer during these
transactions, and this is especially true along the East Coast.
The attorney in these cases takes on the role of the escrow
holder. It is highly encouraged, however, that a seller utilizes an
attorney throughout the closing process whether required to or
not. After all, this is serious business and having an attorney at
your back can’t hurt a thing.
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