"Pink, it was love at first sight, yeah"

"Pink, when I turn out the light"  Aerosmith 

Rosetta Spoonbill, we saw this guy on the 9th hole on the dolphin course.  Needless to say that was the only birdie I saw on that hole.

For those who read the last blog, we talked about escrow.  Escrow is basically a good faith deposit.  When you make an offer on a property and come to agreement then the buyer is expected to make a escrow deposit.  The times when the buyer's escrow could be in jeopardy are as follows.  When a buyer makes a cash offer with a as-is contract, keep in mind that you have the right to inspect and cancel but you must do this in a timely manner and not let the inspection slide by as this is your only contingency.  If the buyer lets the inspection period expire or not notify the seller that the inspection is not satisfactory then the seller has the right to put in a claim on the escrow.

When the buyer is using a mortgage then they have a mortgage contingency and an inspection contingency.  Usually you have 5 days from the acceptance date to apply for the mortgage.  The buyer has to make a good faith effort to secure the mortgage.  Keep in mind you have to have a loan commitment to release this contingency.  If the lender can just not approve the loan then the buyer will receive the escrow with no penalty.  Both agents should keep a close eye on the contingencies so you can meet all dates and not cause stress to either buyer or seller.    

Time is of the essence in all Real Estate transactions.

Jim Bagwell