Now that a contract has been executed and earnest money dropped off, we are officially in the attorney review (if applicable) and inspection time period (A/I). What is the attorney review/inspection time period? During the attorney review/inspection time period, we conduct the inspection and negotiate any inspection issues. In addition, if applicable, the attorney reviews the contract and negotiates any changes he or she wants made on the contract. Lastly, if you’re buying a condo or a home in an association, this is the time period when we review the building’s condo docs or HOA docs such as: their budget, Rules and Regulations, meeting minutes, etc. Usually this period is 3 business days from the day you receive the documents (check the exact amount of time as negotiated in your purchase contract).
If we cannot get all of the above completed during the time frame agreed upon in the contract, the attorney can ask for an extension of the attorney review or inspection time period.
Once all has been satisfactorily closed, it will be time to drop off your second/final earnest money check if that was stated in your contract. If you have questions, call or text us at 954-464-5434.