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Real Estate Contracts >Deadlines
Both buyer and seller should be aware of all of the deadlines in their purchase agreement. Each contract is different, but there are usually time limits covering the structural contingency, the financing application, the loan commitment, and the closing.
If you are a careless buyer, you could lose your right to ask a seller to pay for needed repairs. There may be a limit on the time the seller has to respond to the buyer's request to complete repairs that are not required by the contract. Failure to apply for your mortgage on time may place your deposit at risk if the loan is denied. In many cases, the agreement can be declared null and void by the seller if financing is not approved within the time frame set forth in the contract. A delayed closing can cost the sellers money, and they may ask the buyer to reimburse these expenses.
Work closely with your real estate agent to ensure that all of your transaction deadlines are met.
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| Q |
What was the location for the classic silent movie scene where Harold LLoyd dangles from a huge clock high above the city?
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| A |
That scene from "Safety Last"was filmed at the Brockman Building, one block south of the Biltmore Hotel in Los Angeles. |
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Leslie Benczik, Broker
RE/MAX All-Stars Realty Inc., Brokerage
4592 Highway 7 East
Unionville, ON. L3R 1M5
Phone: 905.477.7766
Downtown Toronto Direct: 416.597.0077
Toll Free: 1.888.762.7081
Fax: 905.477.0566
Email: Rachel@GetBenczik.com
I Guarantee to Sell Your Home in 90 Days or I'll Buy it for CASH! *
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