.signing papers with a pen

what you need to know about written buyer agreements

If you’re starting the process of buying a home today, it’s essential to understand some important new regulations around written buyer agreements. Keep reading to get a breakdown of what these updates mean and how they might impact your home-buying experience.

1. these agreements are a legal requirement.

Following the National Association of REALTORS®’ proposed settlement of litigation, written buyer agreements are a requirement between you and your Realtor®, and will become a legal requirement for all real estate brokers beginning January 1, 2024 in Illinois. These agreements outline the services your agent will provide during the home-buying process and clarify any financial…

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photo of woman signing papers at desk

understanding the closing process in real estate transactions

Closing a real estate transaction is a big step in the home buying and selling process. It's the final stage where the ownership of the property is officially transferred from the seller to the buyer. Keep reading to get a comprehensive look at the steps involved in closing a real estate deal and what both buyers and sellers should expect.

1. the offer and acceptance.

The offer outlines the price a buyer is willing to pay as well as other terms they are offering or require. Sellers can accept the offer, reject it, or negotiate the terms. Once both parties agree, the offer becomes a legally binding purchase agreement.

2. escrow and earnest money deposit.

After the offer is…

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