Most buyers and sellers share similar frustrations in the current housing market. Buyers look long and hard for the right home to buy, exercising caution to make sure they don't make a mistake that could be costly. Sellers wait anxiously for a committed buyer who sees the value in their home and is willing to put pen to paper. There are exceptions: relatively hot neighborhoods surrounded by areas of sluggish sales. But, typically, negotiations between buyers and sellers are lengthy and tedious -- neither ending up with exactly what they want, but something they can live with. The negations often don't end when the contract is ratified. Ratification occurs when the initial offer and all counteroffers are signed and accepted by both parties. The buyers' lender can be the source of problems like refusing to lend the amount the buyers need to close the deal, either due to a low appraised value of the property or a problem with the buyers' credit. A major cause for further negot...
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