Congratulations again on your upcoming real estate purchase.It is our pleasure to be representing your legal interests in reference to this transaction. This office has reviewed your contract, and we would like to point out the below referenced important deadlines and dates for you to keep in mind as we proceed towards closing together.
Loan Application and Underwriting Deadlines
Your Mortgage Consultant will work with you to ensure that the Loan Application and Underwriting deadlines will be met as per the Financing provision of the contract. You can always obtain loan status updates directly from your Mortgage Consultant, and you will work together to satisfy any conditions raised for loan approval.
Your realtor will assist you in scheduling a Professional Inspection on the property. After your inspection is complete, you will receive a Professional Inspection Report and a Required Repair List from your inspector and loan program. Please provide copies of these documents to this office within five (5) Business Days of the Acceptance Date on your contract. Your Professional Inspection will help to provide a safeguard against unforeseen issues or defects with the property, and your Attorney will address all Required Repairs directly with the Seller Attorney on your behalf. The Seller may offer repairs or credits. You can then address any remaining Required Repairs with the lender, either by way of waiver or rehab loan, as needed. If you anticipate the need to request repairs or credits for Non-Required Repair items (e.g. cosmetic defects, wish list items, etc.), please be sure to notify this office within five (5) Business Days of the Acceptance Date on your contract. Otherwise, your Attorney will address all Required Repairs as disclosed above.
Loan Approval Deadline
Continue to work closely with your Mortgage Consultant by providing all required documentation in a timely fashion, and be sure to notify this office in case the loan is not fully approved and “Clear to Close” by the Loan Contingency Date outlined in your contract. In the event your loan is not fully approved and “Clear to Close” on time, and in order to protect your Earnest Money Deposit, be sure notify your Attorney and this office will be happy to request a routine extension from the Seller(s).
You can expect substantial Lender Credits through your loan program, often up to ten (10) times the amount of your Attorneys Fees, or more. You can confirm the amount of your projected Lender Credits with your Mortgage Consultant.
Based on your loan application program through a non-profit organization, this office has agreed to waive the standard $1,200.00 upfront retainer requirement, in favor of accepting a Good Faith Deposit in the amount of $200 towards the full retainer. This office will only bill the remaining balance on Attorneys Fees at closing, and only if your loan is fully approved and your transaction closes. If your loan is not ultimately approved, or if your transaction does not close, this office will waive any additional fees beyond your Good Faith Deposit.
In order to formalize the Attorney-Client relationship, please kindly make your Good Faith Deposit of $200 using the button below, and always feel free to contact this office 24/7 with any questions pertaining to the contract, your legal interests, or the purchase process, moving forward.
It is our hope this information will be helpful to you, as we work towards closing together.
Literally hundreds of satisfied Buyers and Sellers in multiple counties.
“We would like to thank you and your staff for your representation during our business sale transaction, involving a complex sale of our corporate assets, and associated real estate. The transaction from listing to sale was completed well ahead of schedule, and your expertise, counseling, and professionalism served to push the deal along quickly. Very impressed, to say the least!”
“You have been a lifesaver. Your expertise and kindness during our closing helped to iron out what could have been a giant mess. Thanks a million!”
“Very knowledgable lawyer. A+. We got to the closing table in less than a month, and closed the entire transaction in under 30 minutes. Amazing attorney. Very grateful.”
“My parents are both Spanish speakers, and required a bilingual attorney. Not only did our attorney provide us with emails in Spanish every step of the way, he also made himself available by cell, even after hours and on the weekends. We are totally blown away by this lawyer. Will recommend to everyone we know. Gracias!”
“We sold our family home in a very contentious environment, everyone bickering, and no one was easy to please. You sat down with us on many occasions and helped to clear the air, and keep everyone satisfied. To add insult to injury, we had a very problematic buyer who nitpicked every last detail. The Buyer’s attorney was no help, and the deal was close to dying until our attorney worked his magic. Could not have closed without you. Thank you!!!”
“Great lawyer, great counselor, great person all around. We are very pleased with your services. You saved us thousands of dollars in value, just because you care. Thank you, thank you, thank you.”