Real Estate Residential Contract – tip # 1.

Did you know that when you are making an offer to purchase a home, you should always have a specific date for your closing date?

Yes, you should.  Your real estate professional should advise you to put a specific date, such as “on or before June 15, 2010″.   You do not want to put in as a closing date “within 30 days after home repairs are complete” — always use a specific date.

If there are contingencies in the contract to be met, then take this into consideration when determining what the closing date should be.  For example, if there is a house to be sold before purchasing this one, then you would want to select a date probably 6 months out and put the words “on or before” in front of the specific date.

Liz Loadholt

Broker-in-charge

AgentOwned Realty