I've worked with many buyers and one of the most common questions I get, is what's the difference between a new build and a resale. While some of the differences may be obvious, some are not, and of
What Is The First Step When Writing A Contract
Dated: 01/02/2019
Views: 336
A lot of consumers are unfamiliar with the home buying process and the order in which it is done, so I'd like to shed some light on the beginning parts of the transaction. Once you find a home you love, you'll be ready to make an offer. At this point your agent may negotiate verbally to speed up the process, or the selling agent or even the seller, may require you submit an actual contract before negotiations have begun. Remember, you cannot be in negotiation with two parties at once. The reason for this is, if both parties come back in agreement, you are now bound to the contract legally, even it was only verbally. Once all parties have signed, the final party will execute the contract. This the final step in which a date is written on the 8th page of the TREC 1-4 residential purchase agreement and the clock starts ticking. You now have 3 days to turn in the earnest money to title, typically $500, and the option money to seller, typically $50 for 10 days. This also begins the time line of when the survey and seller disclosure are due.
I'd like to thank you for reading, if you have any questions, please feel free to email me at isaac@olmosrev.com
Latest Blog Posts
Navigating a home purchase can be tricky, one of the most intimidating parts of that purchase is of course financing. A very popular loan in today's economy would be the FHA insured loan because of
A lot of consumers are unfamiliar with the home buying process and the order in which it is done, so I'd like to shed some light on the beginning parts of the transaction. Once you find a home you
Everyone one has noticed housing prices going up. This is the simple effect of supply and demand. When there were 2 shoppers competing for a house last year, now there are 4, giving sellers the
Greater El Paso Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may
