Missed dates and deadlines can derail the best of transactions. Timing is the most difficult thing to coordinate in a transaction. Timing is what gives us the most angst, robs everyone of sleep, even real estate agents; timing is the one thing that can spin a great transaction sideways in a second.
The dates below* relate to both buyer and seller.
Plug these dates into your favorite “To-Do” app, set a 2-day alert and sleep well, my friends.
Once your offer is accepted, have your agent interpret the timelines relevant to your transaction and immediately plug them into your calendar app:
- Date of FINAL acceptance of the transaction, not the date it was written
- Date Earnest Money Deposit is due
- Date the inspection contingency expires
- Date by which the buyer must have made formal mortgage application
- Date a commitment for title insurance is to be delivered by the seller to buyer
- The due date for a firm commitment of buyers mortgage (approval)
- The target date of the closing
- The date of your final walkthrough
- Date utility transfers should be made
- Date of final water meter reading
- Date keys are to be transferred to the buyer
*Your dates and deadlines will vary from those above. Ask your real estate agent to interpret ALL of your dates and deadlines (business days? Calendar days?, etc.) for your specific transaction.