When going into contract....

How long did it take from the point of agreeing on everything post-inspection to actually having the contracts done and signed?

We finally came to agreement on everything with the sellers Thursday night, the info was sent to the lawyers Friday...when should I expect to be actually signing the contract?

Thanks!

Re: When going into contract....

Depends on how quickly the sellers atty draws up the contract & then it gets sent to your atty for review. You guys go in and sign. Then the contract is sent over to the seller's atty & they go in and sign. I would say hopefully this week some time! Good Luck!!!

Re: When going into contract....

it took us a week and a half or so

Re: When going into contract....

Yes, a lot of it is dependent on the attorneys' schedules, as well as the buyers' and sellers' schedules to go in, meet with their attorney, and sign.

Also, it depends on how many times they have to go back and forth and whether there are any "sticking points." Recently I had a deal where we agreed on terms, including a standard 60-90 day close, and then the sellers' attorney drafted the contract with an on or about closing date significantly later than what was already negotiated. The sellers decided they needed more time and tried to sneak that in. Ultimately, the deal worked out but it took an extra week to work it out.

When I can (particularly when I know the attorney who is working for the buyer), I will try to hand deliver the contract back to the seller's attorney. That way, once the buyer signs and makes the initial down payment, we don't need to wait days for it to be mailed back to the seller's attorney.

Obviously, from the buyer's standpoint, the sooner the contract is signed, the better!