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Closing or Settlement >Handle Needed Repairs Early

There is a standard chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who may find a few items that need to be repaired. The real estate agent gives the homeowner a list of the requested repairs. What comes next?

In most transactions, the seller will take care of the repairs. Many sellers wait until the week before the closing to call someone to do the work, because they want to be sure that they are going to make it to the closing table before they spend money on repair work. If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.

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Q	What are three of the best indicators of real estate market trends?
A	Existing home sales, new home building and mortgage interest rates.
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Steve Walker, REALTOR®, real estate agent and broker for Ajax and Pickering, Ontario home listings, property and land for sale - NUMBER1EXPERT

Steve Walker
Keller Williams Referred Realty Inc., Brokerage
156 Duncan Mill Rd
Toronto, ON M3B3N2
416-277-8949
Fax: 888-873-5114
stevewalker@NUMBER1EXPERT.com

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