So you think you know how to count?
Watch those dates!
Time is of the essence is at the very top of our contract.
Dates are important. Real important.
The offer date, the ratified date, and the settlement date are written into our contracts. Many of the dates are counted from the date of the contract. But not all.
There are so many days for financing, so many days for the loan application, so many days for loan commitment, so many days to order the appraisal, and so many days to respond if the value is not reached.
Home Owner Associations and Condos have even more dates and so many days to review and also withdraw.
Days from contract to perform the inspection. Days to respond if not satisfied by the buyer. Days to respond from the seller. Then more days for responses between the buyer and seller. Some inspections like radon might add additional days to get the results.
Well, septic, lead-based paint, mold, HVAC, roof, chimney, environmental have dates... and there so many days for a walk through prior to settlement.
But how are those dates counted? Easy 1-2 3... but not exactly.
If the offer is accepted, signed and agreed upon today, then today's date is written into the contract. This important date is known as ratification.
Today is March 24th. When is day one?
According to the contract, today is day zero and tomorrow is day one.
So yes you do count 1-2-3... pretty easy BUT you have to know when to start that counting.
Have a question about contract dates?
Have a question about buying or selling a home...
Call Margaret Rome