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There is no legal requirement that an attorney be involved in any stage of the transaction. However, the proper question to be asked is if it would be advisable for you to be represented by an attorney. The purchase of a home is probably one of the largest purchases you will make during your life.
Closing arguments are the opportunity for each party to remind jurors about key evidence presented and to persuade them to adopt an interpretation favorable to their position.
The closing statement typically lists fees in two columns, one detailing the buyer's expenses and one detailing the seller's expenses. The amount of cash the buyer must give the seller has its own entry at the bottom of the document.
A closing statement or credit agreement is provided with any type of loan, often with the application itself. A seller's Closing Disclosure is prepared by a settlement agent and lists all commissions and costs in addition to the net total to be paid to the seller.
The closing statement typically lists fees in two columns, one detailing the buyer's expenses and one detailing the seller's expenses. The amount of cash the buyer must give the seller has its own entry at the bottom of the document.
The common law rule in Pennsylvania was "caveat emptor," or "buyer beware" for any purchases of real property ? in other words, if the back step is broken, or the ceiling in the living room caves in right after closing the buyer takes care of the cost of repair.
Who prepares the settlement statement? Whoever is facilitating the closing ? whether it be a title company, escrow firm, or real estate attorney ? will be responsible for preparing the settlement statement.
A seller credit is money that the seller gives the buyer at closing as an incentive to purchase a property. The credits may subsidize a buyer's out-of-pocket closing costs, cover the cost of needed repairs, or otherwise sweeten the deal to move the sale forward.