Welcome, Laura & Johanna!
|
Thank you for choosing Brokers Trust - Fitzburgh Realty Team!
We have created this private page in efforts to keep you better informed with the process. For your convenience, it includes your timeline as well as your personal calendar. This should help keep you updated with all that will take place in the upcoming days. You may view them below. Our goal is to make your experience the best it can be. Please feel free to contact us with any questions - we are happy to assist you! |
450 Rustic Drive | Los Angeles, CA 90065
TRANSACTION TIMELINE:
DAY DESCRIPTION CONTRACTUAL DATE
-1 Offer Date Monday, 1/04/2016
0 Offer Acceptance Date Tuesday, 1/05/2016
3 Initial Deposit check due (deadline) Friday, 1/08/2016
7 Seller Disclosures to buyer (deadline) Tuesday, 1/12/2016
14 Buyer Investigation Contingency (expires) Tuesday, 1/19/2016
14 ALL Buyer Contingencies (expire) Tuesday, 1/19/2016
30 Close of Escrow date Thursday, 2/04/2016
NOTES:
1) Your initial deposit is due into the escrow account on Friday, 1/08. You have the option of mailing a personal check or wiring the funds. Attached to this email, you will find the wire instructions. Please note the escrow number (125966-KH) when wiring the funds.
2) Your lender, Natalie Salins, is working on ordering the appraisal inspection. Brian recommends that the appraisal be "rushed" because with 14-days for your contingency period, it is critical that your appraisal report is approved by the underwriter and you get your full loan approval within 14-days (by or before Tuesday, 1/19). NOTE: Per Natalie, there is a $150 fee to "rush" the appraisal.
3) Schedule any and all inspections. We are working on scheduling your general home inspection, termite and sewer inspections for Monday and will send you a confirmation email with all the details.
4) Obtain a homeowner's insurance quote. Do you have an insurance provider that you want to get a quote from? If you need any references we have some for you.
5) Review seller-disclosures and escrow documents. You will receive all sorts of reports and disclosures for your review and signatures.
6) Loan, loan, loan- work closely with Natalie to get her any and all that is needed asap so that you will be able to get full loan approval before you remove your contingencies.
LOOKING AHEAD:
Below is what we anticipate will happen from here forward:
1) Seller disclosures and Buyer investigations: Seller will be delivering a number of disclosures for your review. Also, you will be conducting whatever Buyer investigations you feel are appropriate so that you have a good understanding of what the current "as-is" condition is for your new home. After you complete your investigations, you will have an opportunity to make requests of the Seller but the Seller has no obligation to grant your requests. After the Seller responds you can decide whether or not you agree to complete the purchase- as Brian mentioned to you - "you will never be forced to buy the home for more than you think it is worth after you have completed your investigations."
2) On or about the 14th day after acceptance (1/19), you may be asked to remove all contingencies and commit to the purchase.
NOTE: if you decide to remove all contingencies in writing by signing a "contingency removal form" you may no longer have a contractual right to a return of your initial deposit if you do not complete the purchase by the COE date.
3) Loan doc signing - Before your loan can fund, you will have to sign loan docs, either with a notary at your place of choice, or at the escrow office.
4) At least three business days prior to COE, you will wire transfer the required funds to close (escrow will provide an exact number that will include the balance of your down payment as well as the closing costs that are the Buyer's responsibility).
5) Close of escrow- the grant deed will be recorded in your name. You don't get any paper whatsoever at that time. You will receive an official copy of the recorded grant deed in about a month after the COE date- the county clerk will mail it to the address you provide to escrow. "Close of Escrow" just means that the grant deed gets recorded in your name as the new owner on that date. There is absolutely nothing for you to do on the day of close of escrow.
DAY DESCRIPTION CONTRACTUAL DATE
-1 Offer Date Monday, 1/04/2016
0 Offer Acceptance Date Tuesday, 1/05/2016
3 Initial Deposit check due (deadline) Friday, 1/08/2016
7 Seller Disclosures to buyer (deadline) Tuesday, 1/12/2016
14 Buyer Investigation Contingency (expires) Tuesday, 1/19/2016
14 ALL Buyer Contingencies (expire) Tuesday, 1/19/2016
30 Close of Escrow date Thursday, 2/04/2016
NOTES:
1) Your initial deposit is due into the escrow account on Friday, 1/08. You have the option of mailing a personal check or wiring the funds. Attached to this email, you will find the wire instructions. Please note the escrow number (125966-KH) when wiring the funds.
2) Your lender, Natalie Salins, is working on ordering the appraisal inspection. Brian recommends that the appraisal be "rushed" because with 14-days for your contingency period, it is critical that your appraisal report is approved by the underwriter and you get your full loan approval within 14-days (by or before Tuesday, 1/19). NOTE: Per Natalie, there is a $150 fee to "rush" the appraisal.
3) Schedule any and all inspections. We are working on scheduling your general home inspection, termite and sewer inspections for Monday and will send you a confirmation email with all the details.
4) Obtain a homeowner's insurance quote. Do you have an insurance provider that you want to get a quote from? If you need any references we have some for you.
5) Review seller-disclosures and escrow documents. You will receive all sorts of reports and disclosures for your review and signatures.
6) Loan, loan, loan- work closely with Natalie to get her any and all that is needed asap so that you will be able to get full loan approval before you remove your contingencies.
LOOKING AHEAD:
Below is what we anticipate will happen from here forward:
1) Seller disclosures and Buyer investigations: Seller will be delivering a number of disclosures for your review. Also, you will be conducting whatever Buyer investigations you feel are appropriate so that you have a good understanding of what the current "as-is" condition is for your new home. After you complete your investigations, you will have an opportunity to make requests of the Seller but the Seller has no obligation to grant your requests. After the Seller responds you can decide whether or not you agree to complete the purchase- as Brian mentioned to you - "you will never be forced to buy the home for more than you think it is worth after you have completed your investigations."
2) On or about the 14th day after acceptance (1/19), you may be asked to remove all contingencies and commit to the purchase.
NOTE: if you decide to remove all contingencies in writing by signing a "contingency removal form" you may no longer have a contractual right to a return of your initial deposit if you do not complete the purchase by the COE date.
3) Loan doc signing - Before your loan can fund, you will have to sign loan docs, either with a notary at your place of choice, or at the escrow office.
4) At least three business days prior to COE, you will wire transfer the required funds to close (escrow will provide an exact number that will include the balance of your down payment as well as the closing costs that are the Buyer's responsibility).
5) Close of escrow- the grant deed will be recorded in your name. You don't get any paper whatsoever at that time. You will receive an official copy of the recorded grant deed in about a month after the COE date- the county clerk will mail it to the address you provide to escrow. "Close of Escrow" just means that the grant deed gets recorded in your name as the new owner on that date. There is absolutely nothing for you to do on the day of close of escrow.
Log Out
