There is no “round to it” clause in a Real Estate Contract.
TIME is the essence of a real estate contract.
Dates and deadlines are in place for the benefit of the buyer; allowing the buyer ample time to apply for financing, inspect the property and the title documents, negotiate replacement or repair of any unsatisfactory items disclosed by an inspection, obtain and review an appraisal, survey and all loan conditions, among other things. It can be a little overwhelming for some and it does require a bit of time.
Most buyers don’t mind these deadlines because they want to buy their new home.
They’re excited about it and they are making their plans, like:
What to pack and what to give away or sell
When they will close on their new home,
Where the furniture will go,
When to hire a moving van, or get all their friends together to help
When to schedule time off from work for the closing and moving
When to change their address
How to change their utilities over
What color of paint they will buy for their new bedroom
When they will register their children at their new school, EXCETTERA…
Deadlines are in place for the benefit of the seller; as we move through the process, they know if the buyers have any objections regarding inspections items, condition of title, appraisal...etc. As each objection date passes they are closer to closing
and They are making plans too, like:
What to pack and what to give away or sell
When they will close on their new home,
Where the furniture will go,
When to hire a moving van, or get all their friends together to help
When to schedule time off from work for the closing and moving
When to change their address
How to change their utilities over
What color of paint they will buy for their new bedroom
When they will register their children at their new school, ECETTERA…
Both Buyers AND Sellers are planning this new part of their lives. Time is of the essence.
I, of all people do not like to be pushed, I don’t want to push clients, lenders or title companies into unreasonable time frames, either. I like to allow enough time for everyone.
Going through a real estate transaction isn’t always “relaxing”- there will be plenty of time to relax after the closing.
Neither a lackadaisical buyer nor a seller has the luxury of moving those deadlines into a timeframe of when they can “get around to it.”
It’s a detailed business with dates and deadlines.
There is no ‘round tuit’ clause in the Real Estate Contract!
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Mary Douglas, your Mountain Broker-Associate and REALTOR®
United Country Ponderosa Realty, Red Feather Lakes, CO
www.marydouglas-redfeatherlakes.net
800-531-2195
“A Day in the Mountains will always soothe your city soul”
I specialize in the Red Feather Lakes area, Crystal Lakes and Glacier View Meadows Subdivisions, if you are interested in buying or selling your mountain home, please give me a call, I’m here to help you.
The information contained in Mary’s blog is deemed reliable but is not guaranteed and the opinions and views expressed in these articles are solely those of the author.
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