November 2, 2018

I WANT TO KNOW HOW THE BUYER’S FINANCING IS COMING ALONG, CAN YOU CHECK ON THIS FOR ME?

No. Lawyers only get involved in the legally significant events of the transaction and the buyer’s financing is not a legally significant event for a seller. […]
November 2, 2018

THE BUYER IS ASKING FOR AN EXTENSION OF THE CLEAR TO CLOSE DATE, WHAT DOES THIS MEAN AND WHAT SHOULD I DO?

You have a couple options.  You can agree to the extension or you can decline it.  If you agree, it may delay the closing depending on […]
November 2, 2018

WHAT DOES CLEAR TO CLOSE MEAN?

This term is used by lenders and lawyers and refers to the buyer’s lender issuing an unconditional promise to give the buyer a loan for the […]
November 2, 2018

WHAT IS THE MORTGAGE CONTINGENCY DATE?

This is the final date for the buyer to obtain financing.  If the buyer is unable to secure an approved loan by that date, the buyer […]
November 2, 2018

WILL I SEE THE APPRAISAL RESULTS?

No.  Usually, the buyer only sends the appraisal to the seller when the home does not appraise for the purchase price and they are asking the […]
November 2, 2018

WHAT IF THE HOME APPRAISES FOR MORE THAN THE PURCHASE PRICE?

You cannot receive more money for a high appraisal.
November 2, 2018

WHAT IF THE HOME APPRAISES FOR LESS THAN THE PURCHASE PRICE?

The buyer will likely ask you to decrease the purchase price to the appraised value.  If you refuse to do, the buyer may cancel the contract […]
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