Home Buying in California>Question Details

Marilyn, Home Buyer in California

On a Residential Purchase Agreement, does the 17 day period to get a loan mean 17 business days ?

Asked by Marilyn, California Tue Apr 12, 2011

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As used in the standard CAR contact most widely used in California, the day of acceptance of the contact is day zero and the next day is day one. Days are calendar days unless otherwise specified. Your contact may have been modified so I am only putting forth the standard and not what you might have. Your agent should be your guide in answering this and many other questions for you.
0 votes Thank Flag Link Tue Apr 12, 2011
Marilyn,

You bring up a great question. As answered below, the time period almost without exception is calendar days. HOWEVER, in terms of getting a loan, realize that your lender may have as few as 11 business days to get you the approval you need. Be sure to discuss this with your Realtor and lender before moving forward.

If you have any questions or if I can be of service in any way, don't hesitate to get in touch.

Can do, will do,

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Tue Apr 12, 2011
I've only ever seen calendar days used. You should confirm with your agent as they can refer specifically to your contract, nobody on this forum has the ability to do that.
0 votes Thank Flag Link Tue Apr 12, 2011
Marilyn -

It would be 17 calendar days.

CJ
Web Reference: http://www.TalkToCJ.com
0 votes Thank Flag Link Tue Apr 12, 2011
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