Tag

contingency

When is a Deal Officially a Deal?

Real Estate Legal Trivia That question is HUGE in residential real estate, for a number of reasons. The three biggest: One. The “Final Acceptance Date” — when the deal’s officially a deal — starts the clock running on the Buyer’s Inspection Contingency (Buyers typically have 3-5 business days to inspect, once the ink on the deal is...
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Backup Homes and Lake Wobegon

“Lake Wobegon, where all the women are strong, all the men are good-looking, and all the children are above average.” –Garrison Keillor When Buyers make a Contingent Offer, what’s the contingency? Selling their current home — what Realtors call “the backup house.” For the record, I’ve never heard a Buyer’s agent characterize the backup home...
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