Contract Timeline

What happens after you have a signed contract? Well, that when the real work begins.  While some may believe that locating the perfect property is a lot of work, in actuality, it sort of is because you are responsible for choosing "Your Perfect House." However, after the contract is signed by all parties, that's when the real work begins to get to the closing table.  Check out the timeline for your executed contract.....

1. After the contract is executed by all parties, the inspection period begins. During the inspection period, you want to "kick the tires" and "look under the hood." Getting a house inspection, termite inspection and pipe inspection are just the beginning. Anything you may think of, that you believe may cause a potential problem, should be inspected. After it's inspected, you may have a few follow-up items for the seller. Take you time, ask questions and get all of the information you need during this inspection period. It's very important. 
2. Sending the Escrow Deposit.- pay attention to your due dates. Do not miss your due date for the escrow deposit. It's very important to submit it on time. 
3. Check the status of your loan application. If you have not already started working with a mortgage loan officer, you
should do so ASAP. You do not want to run out of time and have to ask for an extension to the closing date because your loan application has not been approved. Your loan application needs to be started as soon as possible. And while your loan application is pending, don't make any major changes to your status. You know, no job changes, no large purchases, et. This can slow down your loan approval and may actually cause it to be denied. 
4. You will also need to obtain insurance. Shop around and secure the coverage that is most cost-effective for you while providing you the complete coverage and security your need.  
5. Follow up with the title company for your closing date. You may be required to bring funds to the closing table. Confirm your closing date and make sure that your funds will be delivered on time. You do not want to be the hold-up on your signing. 

If you have any questions about this closing timeline or any other timelines concerning your real estate transaction, please feel free to contact us for more details.