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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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Q	What is the longest construction time for a private residence?
A	The Winchester House in San Jose, CA, was under construction for over 38 years.
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Scott Baker, REALTOR®, real estate agent and broker for West Chester, Liberty Township and Cincinnati Ohio home listings, property and land for sale - NUMBER1EXPERT(tm)

Scott Baker, ABR e-Pro
Coldwell Banker West Shell
9106 West Chester Towne Centre
West Chester, OH 45069
Phone: 513-403-5323
Toll Free: 1-800-710-9843
Fax: 513-332-9077
E-Mail: Scott.Baker@cbws.com
E-Mail: scottbaker@NUMBER1EXPERT.com
You will find that I am knowledgeable in all of the North Cincinnati areas. Not only am I an ABR, (Accredited Buyer’s Representative), I am also an e-Pro. An e-Pro realtor has completed the extensive training program endorsed by the National Association of Realtors. An e-Pro Realtor has the training and expertise needed to assist you, the consumer, in this fast-paced age of technology. There IS a difference in Realtors. Call or e-mail me, Anytime!

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