10 Day Review – Financing, Legal, Deposit and Insurability
Once you have an accepted offer there is a 10 day period where 4 milestones are completed. A) Proof of financing, typically your bank or mortgage broker will provide you a pre-approval letter for the value of the home you are purchasing. B) Both the sellers and buyers’ lawyers review the completed paperwork to ensure they+ are satisfied. C) Within 48hrs of an accepted offer a deposit is due that is held in trust by our lawyer D) Buyers need to contact their insurer to confirm insurability for the home they are purchasing. After these 4 activities are satisfied, the deal is firm and the home is officially SOLD.