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Old 06-03-2011, 10:44 AM
 
12 posts, read 18,038 times
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Thanks for all the advice.

To clarify, we have a buyer's agent but the agent that is listing the home for sale is also the owner.

So the consensus is to just read everything carefully that is not under the "standard" contract, and make sure it's okay? And just use whatever title company the seller-agent wants to use?
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Old 06-03-2011, 02:35 PM
 
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And make sure you get all verbal disclosures about the house/property in writing and signed by the seller, and anything that does not mesh with what you relied upon when making your offer -- "Does the basement ever get water in it after a rain?" "Have there ever been any repairs to the foundation?" etc. -- need to be addressed in some fashion before you get to the closing table.
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Old 06-03-2011, 03:43 PM
 
19,183 posts, read 28,313,751 times
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Quote:
Originally Posted by Margery View Post
The 3 day grace period only applies to a refinance. If it is a purchase the deed goes to record usually the same day or early the next day and there is no changing your mind.
Hmmm. You're right. I've refinanced a primary a number of times and taken out home equity lines against it that were ultimately used to purchase interests in other properties, and I've always gotten those three days. But it seems I would not have with an original purchase of a primary residence. So, the OP would then have zero days in which to review, and still can't hope to read and understand 30-50 pages of forms at settlement. Better to do some homework up front or reconsider that lawyer.
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Old 06-03-2011, 05:10 PM
 
Location: Manassas, VA
1,559 posts, read 3,170,243 times
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Quote:
Originally Posted by Movingsoon2011 View Post
Thanks for all the advice.

To clarify, we have a buyer's agent but the agent that is listing the home for sale is also the owner.

So the consensus is to just read everything carefully that is not under the "standard" contract, and make sure it's okay? And just use whatever title company the seller-agent wants to use?
That's exactly what happened with one of our transactions. It just worked out that our buyer's agent....was also the listing agent on the property we decided we wanted....

Use whatever title company the seller wants if that works for you....I've used 'whoever' as well....really makes no difference to me because the end result is the same.

And yep - just read the contract over....it's going to be a 'standard' contract and you'll see once you get it.

Also - try and enjoy the experience of buying your first home - it won't ever happen again!
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