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Home Selling in Central Valley : Real Estate Advice

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  • Home Buying11
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Activity 5
Tue Aug 21, 2012
Matthew Bartlett answered:
Hi Jenny,

The Standard Residential Purchase Agreement, page 1 of 8, Section 3, sub-section E reflects "balance of purchase price or down payment in the amount of _________________ to be deposited with Escrow Holder within sufficient time to close escrow". This deposit of remaining Buyer funds to close the escrow must take place prior to the Deed being recorded with the county recorder. Only after the recording of the deed does title to the home transfer to the Buyer's. I hope this answers your question. Good luck on the closing.

Warmest Regards,

Matt

www.matthewbartlettrealestate.com
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Tue Aug 21, 2012
Louis Wolfson answered:
Where is your attorney?????? Were is your ATTORNEY???? WERE IS YOUR ATTORNEY?

you want your money before you sign the deed. Once you sign your property over, it is gone, money or no money.

Were is your attorney? It will cost you a lot less today then after you sign it over.
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Thu Aug 2, 2012
Shanna Rogers answered:
Hi Jenny,

Talk to your agent's Broker as soon as possible! The Broker 'owns' your listing, not the agent. If all parties (you and the buyers) have not signed the extension yet (you state it will be sent next week), you technically no longer have a contract with the buyers since the contract date has passed/expired.

Shanna Rogers
SR Realty
www.RealtyBySR.com
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Tue Jul 31, 2012
Matthew Bartlett answered:
Hello Jenny,

Delays in closing escrow do happen and the reasons are many. That being said, the Underwriter needs to be honest as to what the issue is that is causing the delay. Have all of the pre-doc conditions been met? If not, what do they need to get done to order the loan docs? Are there any pre-funding conditions? If yes, they need to be identified and taken care of as well so as to not delay your Escrow even further. Your Realtor needs to speak with the Buyer's Lender and find out the answers to these questions as well as when can you expect to close your Escrow. Once you have a timeframe in mind then you can have Escrow draw up an Ammendment putting the new close of escrow date in writing. With regards to the Notice To Buyer To Perform. You can have your Realtor forward this to the Buyer's. However, you must be prepared to cancel the escrow should the Buyer's not be able to perform. This means starting the entire process over, which means more money out of your pocket. You might find that this Escrow can be closed, it's just going to take a little longer and a more agressive approach from your Realtor and the Buyer's Lender to get the job done. Good luck!

Warmest Regards,

Matt
http://www.matthewbartlettrealestate.com
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