Hi Jeff,

It is indicative of the perils of a lack of attention to detail.  We too are seeing many buyers are losing earnest money deposits or having to pay daily fees if the closing does not take place as determined by the purchase agreement.  This is definitely a new emerging trend in our area. Huge implications particularly for first timers....

Lola Audu, CRS GRI

Thanks for your comments, Lola. I am pretty much a stickler for dates and it drives me nuts when others are not so picky. I try not to get too wound out but there are times...first timers, as you know, are especially vulnerable since there is so much to be concerned about. The details folks are the easiest - the big picture lovers are a bit tougher, IMO

Murphy does like to show up doesn't he lol. I love the fritz the cat graphic lol.  Here, most buyers wind up deciding to push for early close once their mortgage is completed. Sometimes it's hard to convince them when sellers say but i have to pack and move! lol

Carole - interesting how things can be different. I don't see that happening here much. If a closing date is agreed on then that tends to be how things proceed, although there are exceptions. When the market was crazy we had lots of people looking for closing in 30 days and less, but it has increased to 45 and more (although you still see some within 2-3 weeks). However there are a good number of vacant houses and those sellers are ready to close as soon as buyers are.

Jeff, I like the idea of puting the dates down on a calendar for them, it really brings to life just how little time they have to get things done.  Very often a Buyer gets a contract and then waits days to contact me to get the loan started, and then we are running around like crazy to meet commitment.

Jeff, Here in Calirfornia ( I hope this is not prevalant elswhere ) It just seems that most agents, new and old by the way, never really gor areond to actually reading these contracts we fill out for both sellers and buyers. It has just amazed me the contracts that I have received with things missing in them. I have had to counter to just fill in the blanks. Stuff like who pays and for what on the termite inspection and repair, How many days to inspect. I have a Land deal right know that is not scheduled to close till april 30, 2007 and per the buyers offer he is now in breach. We have already sent A Notice to perform with four days to respond. This was before Christmas. The Seller is now in control and can keep this buyers ernest money, per contract. I have told his agent time and time again. Wow it just amazes me how many agents really have no clue what they are doing.....

George - Thanks for stopping by. I always appreciate you comments.

Doug - so true. I have had come contracts that are missing more info than they include, cinluding not having signatures, info about the agent, etc. But I ran across this is Boston, too, although the offer was much siimpler.  I know lots of people that have had the use the Notice - amazing that it shouod get to that, and then you still have no response. Good luck getting it resolved. Guess you can send somethng in writing to the broker but seems to me the money is your seller'.

i keep all of the dates visible on the front of the file with check boxes at the countdown to close....

Good idea, kristie. Then they are right there in your face all the time. Thanks for your comment!

Jeff

Hi Jeff,

I have a two month calender on my office wall that is a dry erase of course.  I put every date in there.  I even color code.  Showings-blue, contract dates-red, personal-black and closing dates green.  Most of the time I do have to call the other realtor to remind them.

Erica

Knowing how much time you have to do inspections and get the loan approved are MOST important..... missing those dates can void the agreement.. =-P

NOT a good thing..... =-D