Buying Process For The Disney Area
Once you’ve found the right property for you and your family along with a competent and professional Realtor® to represent you, you’ll need to submit an offer. Your offer can be verbal, but most times it is required in writing. When in writing, the offer often requires a deposit to be held in escrow as good faith to support it. This deposit is fully refundable while contract contingencies are active.
During negotiations there can be counter offers by the seller and the buyer, but once an agreement is made, the contract will be binding to both parties. If the buyer defaults, the deposit can be lost; if the seller defaults, the buyer can take legal action.
Contract Contingencies
Usually, there are contingencies in the contract that allow a buyer to withdraw from the transaction. The most common contingencies are inspection periods and financing periods. If the buyer can’t obtain financing within the allowed time, the contract is voidable and the deposit refundable to the buyer. Also, if the buyer conducts an inspection within the allowed time and finds defects that are not to his/her satisfaction, the buyer can either ask the seller to correct the defects, get a credit from the seller, or withdraw from the transaction and get his/her deposit back.
Once contingencies are cleared, the buyer can lose the escrow monies if he/she chooses to withdraw from the transaction.
Get a top-notch negotiator on your side and structure a killer offer that is great for you and acceptable to the seller. Don’t leave money on the table, and make sure you ask for the right contingencies to protect you throughout the transaction. For more information, complete the form below or call us at 407-910-2553 or 1800-383-8455. We are ready to help you with your real estate needs!
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This page is part of a series of pages that will educate you and help you find your home near Disney with ease.Ready To Get A Deal? Contact Us Today!
All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified.
Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.
Listing data comes from My Florida Regional MLS.
Listing information last updated on May 18th, 2012 at 3:55pm.
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