Attorney Review can be an exciting but nerve wrecking time. In an ideal situation, you will put in an offer for a home you love and after some negotiations, the sellers will accept your offer. Unfortunately, there are many more steps until you are officially a home owner. First and foremost, you must complete Attorney Review in order to protect your new investment. The seller has the right to walk away from your offer until Attorney Review is complete and can even choose to accept a more enticing offers.
Although Attorney Review is generally considered a three-day process, it can absolutely be even much longer. One of the biggest mistakes clients make are to put the wrong information on the original contract. One way to accelerate Attorney Review is to choose a closing date that you are comfortable with, and stick to it. Often times clients are persuaded to put in an earlier close date to make the offer more compelling and then become hesitant about this commitment. Changing the closing date during Attorney Review can be a major point of contention between the buyer and the seller. Choose a date that you are comfortable with from the start because it can be the difference between winning and losing the home of your dreams.
Another way to move Attorney Review along is to have a mortgage company lined up and understand how long a commitment from their company may take. When filling out the original contract, choose a feasible mortgage commitment date with extra buffer room. The less modifications you make, the quicker the process goes. For more tips or questions, please do not hesitate to reach out to the Lanza Law team.