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7.4
OFFERING
TO PURCHASE REAL ESTATE - THE BASICS
The
closing date
It is absolutely
essential that you include a closing date as part of your offer.
This way both you and the seller can make plans for moving, and
the seller can make plans for buying his or her next home. Though
most transactions actually do close on the right date, do not be
so inflexible that a delay creates insurmountable problems.
For example,
if you are renting and need to give the landlord notice that you
are moving out, you may want to allow a little flexibility. Otherwise,
if your purchase closes a few days late you could find yourself
staying in a motel with your belongings packed in a moving van somewhere
while you pay storage costs.
There are also
times when closing can be delayed by weeks, through no fault of
your own. Have back-up plans prepared for such a contingency.
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