Congratulations! You’re Under Contract

“Congratulations!  You’re Under Contract”

Let’s discuss what you can expect once the clock starts ticking.

Within 48 hours, your initial deposit will be deposited into the listing broker’s escrow account.

You have 3-5 days to meet with your mortgage banker and originate your mortgage.

Inspections take place within 7-10 days.  Once your inspector reports the results,  I help you decide which defects you want the sellers to fix and negotiate these requests with the seller, who can decide whether or not to make the repairs. Without agreement, your deposit will be returned under the inspection contingency.

If we agree on the inspection results, your 2nd deposit is deposited into the listing broker’s escrow account.  If we can’t come to terms, you can invoke your inspection contingency, back out of the transaction, with a refund of your initial deposit.

While this is happening, your bank is processing your loan application.  The bank’s appraiser makes sure the contracted price is within fair market value and the bank does its due diligence of your financial information.

Your mortgage contingency date is day 45.  If you don’t have mortgage approval, we can ask for an extension, which the seller can either grant or ask for a rescission of the contract. Depending on the outcome, both deposits are either released to you, or we wait for the bank to approve your mortgage.

Most contracts offer to close by day 60.  48 hours before your closing, the bank will run your credit one last time. Once satisfied, they issue clear to close and release your funds to the seller’s attorney.

The 1st half hour of your closing is spent with your lawyer signing mortgage documents and reviewing the HUD-1 settlement statement.  Then the seller’s attorney is called into the room so money can change hands and finally you get your keys to your castle!

As your agent, I promise to be there for you every step of the way!

About Ruth Zeiss

As a Realtor servicing the state of Connecticut, I believe everyone deserves a boutique level of client care, regardless of the size of the moat around their castle. I believe that homeownership is the gateway to prosperity. Why build someone else’s equity when you can build your own wealth? If you’re a buyer, my goal is to find you a home you can not only afford to buy, but a home you can afford to keep. Are you selling your house? I will work with you to market and sell your property. Your ideas are always welcome because no on knows their house as well as you do. If you are a renter, you know how competitive the rental market is. I will help you find the best quality rental in your budget Is your credit scratched and dented? I will help you market yourself to the landlord so you can overcome those blemishes on your credit report & get the rental. Buying, selling, or leasing, I will protect your interests every step of the way from the initial negotiations, to inspections, appraisals, and finally the closing table. I care for my clients as if you are my own children. It’s not just my job, it’s the way I’ve always done business. Ruth Zeiss CT Real Estate License RES.0789147
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