Youve entered into a contract to purchase a new house

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You’ve entered into a contract to purchase a 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 the closing: (1) attend yourself, (2) send an attorney authorized to close only per the previously negotiated terms, or (3) pre-sign all the closing documents per the current terms and notattend the closing. Which of these would be most advantageous from a bargaining position?Answer:The buyer attending the closing himself would maybe be the minimum decision. Hence, the sellers would know that you have the power to bargain over terms of the deal. The better alternative would be sending the attorney serving as your commitment that you would walk away from the deal unless it is closed per the current terms. Pre-signing the papers would likely be the best option, as it is the most credible commitment to your unwillingness to negotiate the terms also, the sellers might believe that the attorney would have some bargaining authority; pre-signed papers with no personal representative leaves little ambiguity regarding your commitment.

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