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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Ok, so the contract has been drawn up by the seller...
...approximately how long will it be until we get to sign it? We've had the house inspected, it went ok, there are a few things we'll have to deal with but, it's still worth it.
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Posted 2/1/07 9:37 AM  |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Ok, so the contract has been drawn up by the seller...
it took all of 5 days for it to be sent to our attorney, we signed, then sent it back, then they signed and we got a copy.
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| Posted 2/1/07 9:39 AM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: Ok, so the contract has been drawn up by the seller...
The contract needs to be sent to YOUR lawyer. At which oint, you will review it with your lawyer and make any necessary changes/additions.
Then it's sent back to the SELLER's lawyer for them to sign if they agree to your changes/additions.
As for length of time - however long it takes the seller's lawyer to mail it to your lawyer.
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| Posted 2/1/07 9:40 AM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: Ok, so the contract has been drawn up by the seller...
Thanks, this is all happening rather quickly! Supposedly, the woman said, our lawyer would have the contract today. He's saying late next week due to snail mail (since it's a FSBO and there isn't a realtor involved).
At what point are they to stop showing the house to other prospective buyers and taking other offers? After we both sign?
Message edited 2/1/2007 9:45:14 AM.
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| Posted 2/1/07 9:44 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Ok, so the contract has been drawn up by the seller...
Posted by ali120206
Thanks, this is all happening rather quickly! Supposedly, the woman said, our lawyer would have the contract today. He's saying late next week due to snail mail (since it's a FSBO and there isn't a realtor involved).
At what point are they to stop showing the house to other prospective buyers and taking other offers? After we both sign?
yes, once the contracts are signed they are to stop taking any offers. It will still remain on MLS and other sites but if someone calls about the house they are supposed to be told that it is in contract
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| Posted 2/1/07 9:46 AM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: Ok, so the contract has been drawn up by the seller...
Posted by kerrycec03
Posted by ali120206
Thanks, this is all happening rather quickly! Supposedly, the woman said, our lawyer would have the contract today. He's saying late next week due to snail mail (since it's a FSBO and there isn't a realtor involved).
At what point are they to stop showing the house to other prospective buyers and taking other offers? After we both sign?
yes, once the contracts are signed they are to stop taking any offers. It will still remain on MLS and other sites but if someone calls about the house they are supposed to be told that it is in contract
They can still show it but they have to tell people that it's in contract. Most people don't and most buyers won't bother looking.
Good luck
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| Posted 2/1/07 9:56 AM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: Ok, so the contract has been drawn up by the seller...
Thanks! Since it's a FSBO and the person selling it is as clueless about the process as we are, it's been rather interesting.
It's hard dealing directly with the involved party, especially the one we're dealing with! I've never seen DH so stressed, especially since he's been dealing with her after he worked a night tour and had no sleep (his patience gets a little thinner).
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| Posted 2/1/07 9:58 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Ok, so the contract has been drawn up by the seller...
Posted by ali120206
Thanks! Since it's a FSBO and the person selling it is as clueless about the process as we are, it's been rather interesting.
It's hard dealing directly with the involved party, especially the one we're dealing with! I've never seen DH so stressed, especially since he's been dealing with her after he worked a night tour and had no sleep (his patience gets a little thinner).
yea but they still should have an attorney to explain the process to them. For their safety and yours.
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| Posted 2/1/07 10:03 AM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: Ok, so the contract has been drawn up by the seller...
Posted by kerrycec03
Posted by ali120206
Thanks! Since it's a FSBO and the person selling it is as clueless about the process as we are, it's been rather interesting.
It's hard dealing directly with the involved party, especially the one we're dealing with! I've never seen DH so stressed, especially since he's been dealing with her after he worked a night tour and had no sleep (his patience gets a little thinner).
yea but they still should have an attorney to explain the process to them. For their safety and yours.
They have one, I'm not sure how they are utilizing him though. They know the basics, once the contract is signed, they can't accept a higher offer. I think they are more clueless about how the market is going right now than anything else...
We call our lawyer every day! I feel like I need to put him on our Christmas Card list and I haven't met him yet!
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| Posted 2/1/07 10:28 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Ok, so the contract has been drawn up by the seller...
haha, well at least your on top of things on your end!
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| Posted 2/1/07 10:30 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Ok, so the contract has been drawn up by the seller...
Posted by kerrycec03
Posted by ali120206
Thanks, this is all happening rather quickly! Supposedly, the woman said, our lawyer would have the contract today. He's saying late next week due to snail mail (since it's a FSBO and there isn't a realtor involved).
At what point are they to stop showing the house to other prospective buyers and taking other offers? After we both sign?
yes, once the contracts are signed they are to stop taking any offers. It will still remain on MLS and other sites but if someone calls about the house they are supposed to be told that it is in contract
if its a FSBO, it was never on MLS.
I am sure the seller's attorney will explain everything to him/her.
Once contracts are signed by both parties, they will probably stop showing it.
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| Posted 2/1/07 10:35 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Ok, so the contract has been drawn up by the seller...
yes but it could still be FSBO.com or newsday, hence other sites.
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| Posted 2/1/07 10:40 AM |
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