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Updated over 5 years ago on . Most recent reply

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Shaunte Fran
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2
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Foreclosure - TIME IS OF THE ESSENCE clause - HELP

Shaunte Fran
Posted

So my offer was recently accepted on 10/11. I just received the proposed contract with a time is of the essence closing date of 10/24. Is this a pressure tactic? I’m not sure how a full title search and inspection can be done in this short amount of time. I’m already approved for the loan. Please help me if you can!? First time homebuyer over here :/ Thank you in advance!

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236
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99
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Jack V. Ospina
  • Real Estate Broker
  • Miami, FL
99
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236
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Jack V. Ospina
  • Real Estate Broker
  • Miami, FL
Replied

@Shaunte Fran You have to read the contract thoroughly. How long is the inspection period if any? Typically closings are done through a title company which will order a full title search before closing. Your lender will also work with the title company to make sure all documents are ready before closing. Ask the seller who is the closing agent or title company and call them. Good luck!

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