Problem 163 House Closing You have entered into a contract t

Problem 16-3 House Closing: You have entered into a contract to purchase new house, and the closing is scheduled for next week. It\'s typical for some last-minute bargaining to occur at the closing table, where sellers often try to tack on extra fees. You have three options for closing: (1) attend yourself, (2) send an attorney authorized to close only pe the previously negotiated terms, or (3) pre-sign all the closing documents per the current terms and not attend the closing. Which of these would be the most advantageous from a bargaining position, and explain all three choice.

Solution

Answer: Most advantageous option from a bargaining position is :

send an attorney authorized to close only pe the previously negotiated terms,

If the person attends himself, he being owner can easily be pursuaded to accept extra fees. If an attorney authorized to close only pe the previously negotiated terms is sent, he will not be taken an advantage of as all know he is not authorized ot accept any extra fees. But if the perosn pre signs all the documents as per current terms and does not attend the closing, it conveys a very unprofessional behavior.