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BUSN 120 week3 Assignment.docx BUSN120 Real Estate Closing Concepts BUSN120: I002 Spring 2021 Executive summary Real estate is real property that including natural and humankind resources. Real is st$7.49
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BUSN 120 week3 Assignment.docx BUSN120 Real Estate Closing Concepts BUSN120: I002 Spring 2021 Executive summary Real estate is real property that including natural and humankind resources. Real is st
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BUSN 120 week3 A BUSN120 Real Estate Closing Concepts BUSN120: I002 Spring 2021 Executive summary Real estate is real property that including natural and humankind resources. Real is state is one of the booming investment tool entrepreneurs ar...
busn 120 week3 assignmentdocx busn120 real estate closing concepts busn120 i002 spring 2021 executive summary real estate is real property tha
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BUSN120
Real Estate Closing Concepts
BUSN120: I002 Spring 2021
Executive summary
Real estate is real property that including natural and humankind resources. Real is state
is one of the booming investment tool entrepreneurs are taking advantage of currently. Even
though a majority of home buyers simply prefer to own the house, real estate can a fixed stream
of income. Regardless what people choose how to use their home it is essential to understand
real estate terms and concepts. There are also plenty of career opportunities within real estate.
While discussing the real estate closing terms, we will also learn several individuals and parties
that works to make real estate closing a success.
This research paper discusses real estate closing and the four real estate terms that are
used in real estate closing. Real estate closing is the final process in the actual real estate
transaction. In order for real estate closing to be successful all parties involved in the transaction
must be legally competent to enter into the agreement. It is also essential all involved parties
successfully completes their end of the deal. The parties involves in real estate are buyer, seller,
broker, agent, and closing agents to name a few.
These terms I choose to explain are deed, trust deed, closing cost, and escrow closing.
Trust deed or deed of trust is a legal instrument which allows a neutral third party to own the
property until it is paid off. A deed on the other side is a legal documentation that represents the
, buyer is the owner of the property. The third concept is closing cost which refers to expenses and
fees that are expected to be paid on the closing process. The last term that will be highlighted on
this paper is escrow closing. Escrow closing is where the buyer takes a full possession of the
home/property.
Real estate closing
As we begin this paper, we will start by explaining real estate closing process in detail.
As mentioned above real estate closing is the final step of real estate transaction. There are
several home selling processes that needs to be completed prior to the closing date. Buying a
home is an exciting process but it is also a critical hurdle to overcome. In order to have smooth
and effective transaction one must understand the basic of real estate closing. Upon closing the
buyer becomes a partial or a full owner depending on the payment method they use to purchase
the house. A closing date is set once if the buyer offer is accepted by the seller and the purchase
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