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KS13
Life is good.
Member since 6/10 1203 total posts
Name:
K
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contract
Those of you who have been in contract for a home that you purchased: how long did you wait to have the sellers sign and return the contract to you?
We signed the contract with our lawyer on the 11th. That was 10 days ago.
Our mortgage broker keeps asking us when we are getting the contract from the sellers since he already locked our rate and gave us bank commitment with a copy of the contract with just our signatures.
I am getting anxious now.
10 days is totally normal to be waiting..right?
There were three people that needed to sign on the sellers end (it is an estate).
Thoughts??
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Posted 3/21/11 5:46 PM  |
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Prudential Douglas Elliman Real Estate
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JennZ
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Member since 8/05 25463 total posts
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Re: contract
Our people wanted out( were buying another house) and signed the day after us.
I signed 3 contracts before and all three were signed by both partied within the week.
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| Posted 3/21/11 5:49 PM |
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KS13
Life is good.
Member since 6/10 1203 total posts
Name:
K
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Re: contract
Posted by JennZ
Our people wanted out( were buying another house) and signed the day after us.
I signed 3 contracts before and all three were signed by both partied within the week.
yikes 
Well one of the signatures had to come from someone in Kentucky, so I am hoping that is what is delaying everything..
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| Posted 3/21/11 5:58 PM |
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Re: contract
Estate sales can take a little longer because, as you said, more people have to coordinate their schedule to meet with the attorney and sign (or, if people who need to sign are not local, then it takes longer to send stuff, wait to get it back, etc.).
What does your lawyer say? He should be in contact with the sellers' attorney and have a sense of when everyone's expected to sign.
You could also have your agent try the seller's agent, to just find out where things stand (although once contracts are in the attorney's hands, the agents may not have the most up-to-date info... it depends on how open the attorneys are to working with the agents and how on top of it the agents are).
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| Posted 3/21/11 5:58 PM |
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KS13
Life is good.
Member since 6/10 1203 total posts
Name:
K
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Re: contract
Posted by Century 21 Dallow - Christine Braun
Estate sales can take a little longer because, as you said, more people have to coordinate their schedule to meet with the attorney and sign (or, if people who need to sign are not local, then it takes longer to send stuff, wait to get it back, etc.).
What does your lawyer say? He should be in contact with the sellers' attorney and have a sense of when everyone's expected to sign.
You could also have your agent try the seller's agent, to just find out where things stand (although once contracts are in the attorney's hands, the agents may not have the most up-to-date info... it depends on how open the attorneys are to working with the agents and how on top of it the agents are).
I called my attorney on Friday and again today. He has been out of the office. I am hoping he will get back to me tomorrow. I am just afraid something is going to go awry on the bank end because I think my broker is anxious that he may have jumped the gun with the commitment and rate lock, thinking the sellers would get us the contract back right away...
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| Posted 3/21/11 6:17 PM |
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phoenix913
LIF Adult
Member since 5/05 3034 total posts
Name:
V
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Re: contract
We signed our contract on the 10th and just found out today that the seller finally signed. We were going back and forth with one particular clause in the contract, so I guess that held it up, but I wouldn't get too worried yet if I were you. Sometimes people have scheduling issues etc.
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| Posted 3/21/11 7:10 PM |
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