Hopefully we’ve been able to successfully negotiate any inspection repairs or credits and everyone was able to come to an agreement on any contract changes.
Once that happens, the buyer should drop off his/her 2nd/final earnest money check at either his realtor’s office, my office or the title company within the time period specified on the contract. It is usually 15 days after executed date. After that point, it’s difficult for the buyer to back out of the contract. If the buyer does back out for any reason other than not being able to get approval for the mortgage, the buyer will most likely lose his/her earnest money back and instead you’ll get to keep it. Now we patiently wait for the buyer’s loan to get approved and focus on the last remaining items to get you prepared for closing!
If you have any questions, please call me at 954-464-5434 or email me at Linda@CrossroadsRealtyTeam.com