REAL ESTATE "TRANSACTION KILLERS LIST"
It's important to proactively discuss the parts of the process that can KILL a real estate transaction…
1. EARNEST MONEY DEPOSIT
2. THE HOME INSPECTION
3. THE APPRAISAL
4. NEGOTIATING REPAIRS
6. REMOVE CONTINGENCIES
7. LOAN APPROVAL/CONDITIONS/FUNDING (IF APPLICABLE)
8. TITLE ISSUES
EARNEST MONEY DEPOSIT
Per the standard California Association of Realtors approved contract the standard time frame to deposit earnest money into escrow is 3 days from when the contract was accepted. These funds can typically be wired or a check can be dropped off at the escrow office.
In a short sale, this can be different. A short sale should include a SHORT SALE ADDENDUM. This addendum confirms time frames. The…