Time is of the Essence. Yes, that means something.

Reblogger Lanette Branch
Real Estate Agent with RE/MAX Components

 

Erica Ramus, Broker/Owner in Portsmouth, Va. says a mouthful in just a few concise paragraphs. 

We, the real estate agents, are the professionals and, as such, the onus is upon us to keep the real estate transaction running smoothly.  Erica uses a calendar system to keep on top of dates and times.  I do this as well and I email my buyers their own personlized time-line so that we are partners in the entire process.  Here's her take on the Time is of the Essence clause included in the Sales Contract...

 

Original content by Erica Ramus RM420589

When you have a signed contract, it is your job -- as a real estate agent -- to pay attention to dates in the contract.

If you represent the buyer and you MISS an important date, they can lose their right to terminate thanks to your lack of attention.

If you  have a house under contract with at 15 day right to inspection, here in PA you have 15 days to do your inspection and REPLY in writing to the seller. On day 16, I'm not discussing the inspection report with you. If you will miss a date, you need to get an extension from both buyer and seller in writing. 

Yet many agents really don't seem to "get" this. They put off inspections till the last minute, or they do the inspection and don't report back to the seller in a timely manner.

This is crucial in your representation of the buyer!

All dates in a contract are important. If you miss something and the time period to respond passes, your client may lose out.

Please pay attention to dates. I have a calendar system I use where each house I have I print out a calendar with important dates on it. I check the dates off as we hit them and pass time periods.

 

Flickr photo courtesy Stephen Korecky

 

 

 

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Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA. If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006. Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search! No registration is required!

We also run Schuylkill Appraisal Services, for all your appraisal needs in the area. If you need an appraisal, we are your Schuylkill County appraisal source. 


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time is of the essence
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Robert Vegas Bob Swetz
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This is a wonderful post and thanks for the re-blog!

VB ;-)

Aug 11, 2010 03:45 PM #1
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Lanette Branch

Bel Air, MD Real Estate Agent
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