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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 famous hotel did John Wayne, Lee Marvin & Elvis Presley stay at while filming on Kauai?

A 
The Coco Palms
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Jim Reitzel, REALTOR®, real estate agent and broker for Kitchener, Waterloo, Cambridge and Guelph, Ontario home listings, property and land for sale - NUMBER1EXPERT(tm)

Jim Reitzel
Keller Williams Golden Triangle Realty - Brokerage

871 Victoria Street N, Unit 9
Kitchener, ON N2B 3S4
Direct: 519-570-6299
Fax: 519-741-8597
Jim@JimReitzel.com

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ABRCRSMLSREALTOR


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