Paul and His Team Always Made Themselves Available
Paul and his team always made themselves available and had the knowledge to answer questions whether it related to financing, seller information, pricing, and options. They truly represented my interests, as they were instrumental, if not totally responsible for me buying my home below market price!!
Bruce and Joan Keene, Lake In The Hills, IL.60102
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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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The Paul Paterakis Power Team
RE/MAX Showcase
25884 East Route 83
Long Grove, IL 60060
847-388-7525
Fax: 847-566-1861
Info@PowerTeamHomes.com
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