Step 9 of 10 to Home Buying

Work to Remove Conditions in the Offer

Your offer is accepted; you now need to make a good faith effort to meet conditions within the agreed upon time periods stated in the contract. Otherwise you’ll need to extend dates, on the provision that the Seller agrees in writing. 

This makes it important to have your sales representative insert conditional time periods that are practical, so as to allow a realistic period in which to meet your conditions. Typical conditions are: mortgage financing, home inspection and insurance. Other conditions can include inspection and satisfactory report of a septic system, legal usage, potability of water if a well or cistern and more.    

Your sales rep and mortgage agent will guide you and provide names of 3rd party specialists like home inspectors. Be prepared to respond promptly to lender requests for additional documentation and explanations.  

Once conditions are met, your lawyer will perform title and other due diligence searches.  

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Blog Archives

Tags