Home Buying in Minneapolis>Question Details

HMP, Home Buyer in Minneapolis, MN

Bank Purchase Agreement

Asked by HMP, Minneapolis, MN Fri Jun 19, 2009

I accepted the banks counter offer on a house I want to buy. This all happened 6-17-09 Wednesday. I still don't have a purchase agreement. Don't they have to have it to me in a certain amount of time??

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It is not a fully accepted agreement until they return a signed copy. I have seen it take 3 weeks to get a signed copy from a bank but have also seen them returned in a matter of hours. There is no rule requiring a specific time unless one was specified in the contract.
Web Reference: http://www.AaronSOLD.com
1 vote Thank Flag Link Fri Jun 19, 2009
It is correct that the bank can take as little time as a day, or as much time a few weeks to returned a fully executed contract. It all depends on a number of factors, one of them being staff availability and the number of files they are currently processing.
0 votes Thank Flag Link Fri Jun 19, 2009
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