Earnest money is an amount of money the seller has requested for us to “put down” showing we are serious buyers. You will already have known and agreed upon this amount prior to submitting an offer. If for any reason we terminate the contract outside of appropriate deadline timeframes, the seller could potentially keep these funds. If we terminate within timeframes, you will receive these funds back. Earnest money amount will be held by title and applied to your Cash Due at Closing/ Down Payment. Earnest money will be due within 3 business days of going under contract.
Title will be sending all the on record title liens (if there are any) I will be taking care of all of this and if there is any issues with on or off, I will make you aware and let you know next steps.
Owner needs to disclosed any off record liens on the property by this date.
If there are any issues with title we will send an objection for the seller to take care of.
If there are any issues with title we will send an objection for the seller to take care of.
Seller has till this date to take care of any title/lien issues found.
If the property has an HOA all documents will need to be submitted to us by this date.
You will want to review all the HOA documents ensuring you do not find any major concerns. If you do find a restriction or major concern within the HOA we will want to terminate contract on or before this date.
Seller will send disclosures of any issues she is aware of in the home (both repaired and not repaired). Once, we review we will sign acknowledging we have received.
If the property was built prior to 1979 we will need to sign a Lead-Based Paint Disclosure acknowledging there might be lead-based paint present in the home. We can elect to have home tested or waive testing. The sellers will need to send us the disclosure on or prior to this date.
You will need to have applied for a loan prior to this date.
We have until this date to terminate for any loan issues.
You have until this date to discuss and obtain homeowners insurance- If for any reason there are issues with insurance, you can break contract.
Appraisal must be ordered by lender and completed by this date.
Our lender's appraiser will need to conduct review of home and submitted appraisal value to lender by this date.
We have until this date to find a resolution with the seller in regards to any appraisal issues.
You have until this date to have a survey of the property to be completed.
You have until this date to submit any issues/objections found in new ILC/Survey to the sellers. Any issues found will need to be resolved with sellers by resolution deadline or you will need to terminate by the resolution date if something with the survey is causing for you to not want to purchase the property.
The sellers agent will be sending or making available any documents; insurance claims, receipts, reports, manuals, ect, for us to review. This also include the documents which we already have received, square footage disclosure and source of water. These documents will be at the home for us to review during inspection and left with the home after closing.
If we submitted any questions, further clarifications, or objections to the seller, they will need to respond by this date for resolution.
Once, we review the due diligence docs we need to submit and questions, further clarifications, or objections to the seller by this date.
If purchasing your new property is contingent on selling your current property, you will have until this date to sell the contingent property. If you are unable to sell the property, you will need to terminate the contract by this date.
You have until this date to terminate on property if lead-based paint is found.
You will have your "cash at closing"/down payment wired to title at least 2 hours prior to closing time. All wire instruction will be delivered by encrypted email or you will need to call title directly to receive wire instructions! Due to a lot of wire fraud, make sure you send me any emails you might receive stating wire instructions have changed for me to verify and confirm!! Your Closing will be at the title company and most likely with the sellers. We will do a final walk-thru prior to closing to ensure inspection items were completed and the property is in same condition as when we went under contract. You will need your signing hand and 2 forms of ID one being photo ID! After all parties sign closing documents, the property is officially yours!