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Real Estate Tips
Real Estate Contracts >Deadlines

Both buyer and seller should be aware of all of the deadlines in their purchase agreement. Each contract is different, but there are usually time limits covering the structural contingency, the financing application, the loan commitment, and the closing.

If you are a careless buyer, you could lose your right to ask a seller to pay for needed repairs. There may be a limit on the time the seller has to respond to the buyer's request to complete repairs that are not required by the contract. Failure to apply for your mortgage on time may place your deposit at risk if the loan is denied. In many cases, the agreement can be declared null and void by the seller if financing is not approved within the time frame set forth in the contract. A delayed closing can cost the sellers money, and they may ask the buyer to reimburse these expenses.

Work closely with your real estate agent to ensure that all of your transaction deadlines are met.      

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Real Estate Trivia
Q 
What was the world's highest viewing platform before the opening of the Empire State Building in 1939?

A 
The Eiffel Tower, built between 1887-1889, was for 42 years the highest viewing platform in a man-made structure.
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Taylor Team Real Estate, REALTORŪ, real estate agents and broker for Glen Allen, Midlothian and Richmond Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

Taylor Team Real Estate
RE/MAX Commonwealth

200 Westgate Parkway Suite 102
Richmond, VA. 23233
804-360-5200
804-527-6265
800-772-5220
Fax: 804-364-0910
Email: Janice@taylorteamrealestate.com

My mission in real estate is to compete to be the best realtor that I can be, excite my clients with the home buying and selling experience, and have the confidence for my clients to depend on my expertise for their decisions in real estate.

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