Posted on Friday, December 13th, 2019

Number One Thing All Buyers Should Know for Closing

buyersDeadlines – Many contracts have inspection and/or financing contingency periods. These deadlines are very important as they can determine whether a buyer can keep their deposit. Once a buyer is past their deadline, they are under contractual obligation to close. A buyer must make sure that they do any inspections to the property within in their inspection period. Additionally, if the buyer is getting a loan, they must apply for the loan immediately after the offer is submitted. If a buyer is denied for a loan after their financing contingency period ends, they may be forced to close without the loan or forfeit their deposit. These are situations that can be avoided if the buyer works diligently with their inspectors and loan officers.

Contact the Orlando Real Estate Attorneys at Nishad Khan, P.L. for all your questions and answers regarding real estate closings in Florida.