Once your offer is accepted things move quickly. Below are the deadlines once an offer is accepted. However, deadlines can be negotiated and it's important that you check your Residential Purchase Agreement to make sure they have not changed.
Buyer Deadlines Once Offer Is Accepted:
Within 3 Business Days:
Earnest Money Deposit (check or cashier's check) must be dropped off at escrow. Escrow will send a receipt to both parties.
Within 3 Days:
Buyer or loan officer to send seller verification of down payment and financing.
Within 17 Days After Acceptance:
- Review and sign all seller disclosures
- Complete buyer investigations including home inspection, roof inspection, pest inspection, etc.
- Send seller Request for Repairs
- Remove Buyer Contingencies
Within 21 Days After Acceptance:
Remove Loan Contingency
1 – 5 Days Before Close of Escrow:
Final Verification of Property Condition
Days vs. Business Days – Days includes weekends, Business Days does not.
Two Day Notice To Perform – Buyer and Seller must first give Two Day Notice to Perform before cancelling escrow for items other than Contingencies.
Deadlines can be changed, extended or shortened when the buyer and seller mutually agree in writing.
Information provided is to be used as a guide only.