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What Buyers Should Know About Closing
Manage episode 153440442 series 1089737
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Often, clients ask me, “What happens to our escrow if we change our minds? Do we lose our deposit?”
The quick answer is no. You will not lose your deposit. In fact, many real estate contracts allow a contingency period of nineteen days. During this time period, the buyer has the ability to investigate the property, such as home inspections and exploring the neighborhood. Within those nineteen days, the buyer can take back their decision to buy.
They have the opportunity to contact a real estate expert and draft a cancellation of escrow. It’s a quick process that helps you get your deposit back within a couple days.
If you have any questions about the closing process or a cancellation of escrow, give us a call or email today!
The quick answer is no. You will not lose your deposit. In fact, many real estate contracts allow a contingency period of nineteen days. During this time period, the buyer has the ability to investigate the property, such as home inspections and exploring the neighborhood. Within those nineteen days, the buyer can take back their decision to buy.
They have the opportunity to contact a real estate expert and draft a cancellation of escrow. It’s a quick process that helps you get your deposit back within a couple days.
If you have any questions about the closing process or a cancellation of escrow, give us a call or email today!
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