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closing date

The Buyer’s Written Statement is Late: “No Biggie” or “Uh-Oh/Holy Sh*T!!”

[Editor’s Note:  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  If you need legal advice, please consult an attorney.] As I tell clients, the second most important date in a residential Purchase Agreement is the Written Statement deadline (the most...
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Fast Close = Strong Buyer (Usually)

Vetting the Buyer’s Finances Prior to closing, at least, the best evidence that a (non-cash) Buyer can financially perform is a Written Statement from a reputable lender. Typically given by the Buyer to the Seller a couple weeks after the deal has been struck, it says that the lender has:  a) completed vetting the Buyer’s finances,...
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Changing the Closing Date

Closing Date: Fixed, or Flexible?It’s almost guaranteed that at some point in every real estate transaction, at least one of the parties will want to change the closing date. Can they? A real estate purchase agreement is ultimately just a type of contract, and anything the two parties agree to change, can be. But therein...
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