mechanics of sub2 - Posted by bill

Posted by Tom PA on August 30, 2003 at 12:56:09:

Some of us would like to delay closing to provide us time to find a buyer. However, everything depends upon the seller’s real needs.

mechanics of sub2 - Posted by bill

Posted by bill on August 27, 2003 at 16:30:33:

If I sign a purchase and sale agreement for a sub2 purchase, when should I set the closing date for? If the homeowner signs a deed the next day, isnt that the closing? SO if purchasing sub2 and homeowner is itching to sign the deed to you, couldnt the closing date be like 1-3 days? I see many people say they set the date for something like 45 days but maybe that should just be if your selling. Am I thinking correctly on this?

Re: mechanics of sub2 - Posted by Stewart

Posted by Stewart on August 30, 2003 at 17:12:31:

Closing can be whenever you want it to be and the longer you make it the better for you if not in a hurry to market (which I would be). But if you want to make your money, the sooner you close the better. Like JP brought up, you certainly want to make sure you have a good title and contract should have a contingency for that. Get the contract signed, get your title work done and if all clean, go back get deed and all other papers signed.

Title insurance… - Posted by JP

Posted by JP on August 27, 2003 at 17:40:24:

I would think you might want to check out the title and/or get title insurance, and unless you’re doing it yourself or have a friend at a title company that can’t be done in 1-2 days. More like 5-10 days around here.