When you are selling a home it can be done is several different ways. In most cases, the buyer will meet the seller. There are a few instances when the buyer will not meet the seller. The first way it can be done is hiring a realtor through a real estate agency. A realtor is an individual that specializes in the sale of your home or property. It is their job to get your home the exposure it deserves. And they are the ones that will handle the negotiation process between the prospective buyer and yourself. The realtor is also the one to determine if the interested party is a serious buyer.
Another way you can sell your home is on your own. If you choose to sell your home on your own, this means you will be responsible for advertising and showing your home on your own. When you meet a serious buyer, you then have an opportunity to hire a lawyer for representation to finalize the fine print of the sale and negotiate any remaining terms.
And finally, you can also sell your home through an auction. If you choose to go this route, you will find many different individuals interested in your property for sale. When the auctioneer determines a highest bidder, you have the option to meet the buyer at the closing. Otherwise, you can have a lawyer representing you.
In several instances the buyer of the home and the seller of the home will meet face to face. The first reason the buyer and seller would meet is if the seller has listed the home on the market without hiring a real estate agent. In this case, the seller of the home would show the home to the interested party. If the potential buyer is still interested after viewing the home, they would contact the seller by phone, email, or meet them again face to face.
Another time the buyer and seller would meet in person is at the closing. Each party may have their lawyers present to review the paperwork to ensure the deal is legal and as agreed upon. The buyer and seller both have to sign paperwork and handle the financial transactions. In most cases after both parties sign the paperwork in closing, the buyer and seller do not see each other again.
If something should happen after the closing is complete and the seller is suing the buyer, they would meet in person again during this dispute. Usually both parties will obtain legal representation to make sure the case goes in the best interest of their client. Through the process of deliberation, depositions, and court sessions it is likely the buyer and seller will meet each other in person again.
In the real estate business it is beneficial to the seller to hire legal representation and a realtor to help negotiate with the seller. If the buyer and seller do not know each other previous to the sale, there is few instances when they will meet on their own after the sale is done.
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All information is deemed reliable but is not guaranteed accurate by LSTAR. (ie. The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) program of the London and St. Thomas Association of REALTORS®. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied.)
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license. London St. Thomas Assoc. of REALTORS® Last Updated: 9/23/2018 3:21:23 PM