The buyer brings the check and purchases the property in exchange for the check.The money now belongs to the seller..to do with..as he pleases. The seller then pays both the agents for making the sale happen out of his proceeds on the sale.
Remaining mortgage amount due
National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
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Normally the expenses associated with the seller's side of the transaction are deducted from the proceeds of the sale of the home. In those situations when the sale price of the home is not enough to cover the expenses associated with the closing it may be necessary for the seller to bring additional funds to the closing.
Allan Erps, ABR
Licensed Real Estate Salesperson
VM(24 Hours) 845-770-2141
Cell Phone/Text 845-304-3040
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visit my website at; http://www.allanerps.randrealty.com