Verbal agreement of price & contingencies by buyer and seller thru South Fork Realty.

Sales Agreement information sheet is supplied by South Fork Realty and sent to buyer, seller, buyer's attorney, and seller's attorney.

If engineer's inspection & termite inspection is requested by buyer it is usually done at this time.

A verbal report is first rendered by engineer to buyer (so buyer can proceed with the written contract of sale) followed by a written inspection report to the buyer (buyer also could choose to wait for written report before signing contract of sale).

This is provided at the buyer's request and expense.

Seller's attorney will draft the contract of sale & submit to the buyer's attorney.

After review & approval by buyer's attorney the buyer will sign contract and put down contract down payment.

During this time buyer should check with banks for mortgage and tailor the buyer's needs with the best rate and term programs available.

When contract has been signed by seller and submitted back to the buyer's attorney the buyer should obtain copy and submit contract with mortgage application to the bank.

The contract usually provides that the buyer has 30 to 45 days to obtain the mortgage commitment so make sure to get all your necessary documents to the bank ASAP.

After the mortgage commitment is received by the buyer it should be submitted to the buyer's attorney and buyer's attorney will forward copy to seller's attorney.

After mortgage commitment buyer's attorney will order title search & survey if necessary.

Upon receipt of survey & title report buyer's attorney will schedule the closing with the seller's attorney, bank's attorney, and buyer & seller.

On closing make sure to bring house insurance policy with paid premium statement, certified check or bank check for specified amount, and other personal checks for closing expenses.

This whole process normally takes about 60 to 90 days from date of verbal agreement.

This is only a rough guideline.

Your attorney's counsel represents your best interest to a fair and expedient transaction.