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    Saturday, June 10, 2023

    Sound Advice 04-21-23

    If you’ve never bought a home—or haven’t bought one lately—you may be curious about the time it might take for completing the transaction. Broker-Owner Matt St. Amour of Making Connections Realty explains what a typical timeline looks like:

    “An essential part of a buyer's offer includes contractual commitments to contingency dates. A standard contract includes contingency dates for the Mortgage Application, Mortgage Commitment, Appraisal Receipt, Inspection Report Receipt, and finally, the Closing Date. The timeframe for each starts from the Contract Date (when the offer is signed by both parties). Customarily, three days are given for Mortgage Application, 20 days for Mortgage Commitment, 25 days for Appraisal Receipt, 10 days for Inspection Report receipt, and 45 days to Closing. Dates may be amended, by agreement, in writing. Failure to meet these dates puts a buyer at risks of losing their deposit.”

    Have a question for a local Realtor? Ask it here: welcomehome@theday.com

    Matt St. Amour, Broker-Owner

    Making Connections Realty

    Mobile: (860) 803-4061


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