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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 mortgage transactions between borrowers and lending institutions operate in the private sector of the economy?

A 
Conventional mortgages are private sector transactions that are not insured or guaranteed by the government.
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Levy Wilson, REALTOR®, real estate agent and broker for Wilmington, Greenville and New Castle County, Delaware home listings, property and land for sale - NUMBER1EXPERT(tm)

LEVY WILSON
Prudential Fox and Roach Realtors
3838 Kennett Pike
Greenville, DE 19807
DIRECT: 302-888-1088
Fax: 302-888-0404
Office: 302-571-8855
LevyWilson@NUMBER1EXPERT.com

Levy Wilson is a top-producing Prudential Fox & Roach real estate team serving Delaware, Pennsylvania and New Jersey. For over 30 years, the unique combination of individual expertise and genuine team spirit has created an uncommonly effective resource for the region. But it's the team's hands-on approach that best describes its giving, yet ever knowledgable, personality. Ask any Levy Wilson client what made their real estate experience so rewarding, and you're sure to hear abot the welcoming professionals that brought it all home. Levy Wilson is a consistent memberof the PREA 100 --- the top 100 sales professionals, out of over 60,000, in Prudential Real Estate in the U.S.

CRSeProMLSREALTORGRI


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