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Buyer
"Mark Chappell represented me as my agent on several properties. Prior to hiring Mr. Chappell, I had two other agents that I dismissed within a month of hiring them, because I did not feel as if I was being treated with respect and being represented as a prospective homeowner. Mr. Chappell was very respectful of me. He was almost always available to speak with me. What I liked most about Mark is that he treated the properties that we looked at as if he was purchasing them himself. He was very thorough as well as gave helpful hints on home buying. I will highly recommend him to any prospective homebuyer."
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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 information does nearly every state in America require the seller of a home to reveal to the buyer?
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| A |
Most states require disclosure of any existing problems or conditions that could affect the value of the house. |
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