We have encountered some processing time issues with a few lenders. It is best if you allow time for closing..about 45 days. As for a lender letter or inspections, I have not had a problem. Committment letter should be received about 21 days after ALL requested docs are received. Sometimes the underwriter will request addional docs from Buyer and that could slow things down. At least not in this area are we having a problem.... more
I have been allowing 14 days instead of the typical 10 days to have inspections since this is a very busy time for inspection companies. I am also allowing longer for the closing date (35-45 days), depending on the situation.... more
Here is good solid advice actually advice for Life....
a) if there is only one brokerage offering something all others do not red flag
b) every time someone offers something that sounds too good to be true red flag it probably is
c) every time you engage in a contract of any kind that has special clauses like the one you mention
hire a real estate attorney to look it over on your behalf and make sure that you are fully aware
of the fine print and what that means....
d) if the explanation is short and simple the terms may include a lot of inclusions and exclusions YOU MUST
be very clear of before starting......
I am not sure what that so called security plan offers you.....
in general terms there is no security when selling your home, the right buyer, approved and
financially sound needs to come around to want your home and then he or she will decide
what in their mind and based on the market in that area your house is worth to them.....
Be very careful, we want to make sure here, that you do not hope for something that at the end may not
actually be what you are thinking at this time.
Good luck to you, have an attorney look over the so called ERA Sellers Security Plan is a really good idea
before going with them.
Edith YourRealtor4Life and Chicago and N. Illinois Expert... more