Your newly accepted contract is an important first step in the process towards purchasing real estate, and it is our pleasure to be representing your legal interests in reference to this transaction. Your Attorney will be available to you 24/7 during this process, and will respond to all of your inquiries within 24 hours. We have reviewed your contract, and would like to provide you with the following guidelines and deadlines, as we move towards closing together.
Email Communications & Action Items
In the event any action items are required of you, you will be addressed directly in email so that we can work on these items together. You may be blind copied on other communications issued by this office and will not need to respond, as these communications are for your informational purposes only. Please be careful when responding to emails which may include other parties. The best practice when sending email correspondence is to be sure that only your representatives are included in your emails.
Loan Application, Underwriting, and Loan Approval Deadlines
Your Mortgage Consultant will work with you to ensure that the Loan Application and Underwriting deadlines will be met as indicated in your contract. You can always obtain loan status updates directly from your Mortgage Consultant as you work together to satisfy any conditions raised for loan approval. In order to protect your Earnest Money Deposit, and in case your loan is not fully approved and “Clear to Close” by the Loan Contingency Date outlined in your contract, please be sure to notify this office, and we will be happy to request a routine extension on your behalf.
Professional Inspection Deadline
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 (or 10 standard days for Indiana contracts). 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 only the Required Repairs as disclosed above.
Your contract may stipulate that Buyer will order and pay for both the Owner and Lender Title Insurance Policies. Your lender program may pay for the required Lender Policy, and may pay all or part of the Owner Policy according to the terms of the program. Please be sure to clear this with your Mortgage Consultant, or contact this office if a modification is required, within five (5) Business Days of the Acceptance Date on your contract.
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 will agree to waive our standard $1,200 upfront retainer requirement for Attorneys Fees, in favor of accepting a Good Faith Deposit in the amount of $250 towards the full retainer, in order to begin representation. You will be billed the remaining balance on Attorneys Fees at closing, only if your loan is fully approved and your transaction successfully closes. If your transaction does not successfully close, this office will waive any additional fees, and will apply your initial Good Faith Deposit towards Attorneys Fees on your next real estate transaction.
In order to formalize the Attorney-Client relationship, please kindly make your Good Faith Deposit of $250 using the button below, as we look forward to representing you.
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.”