The sales contract has arrived for my electronic signature (woo hoo, technological progress!). I’ve read all 13 pages of the contract in its entirety, something that is probably considered very quaint nowadays. Buried in the pages are a couple of important dates. The first is the acceptance date. It says I should have an answer within three days. That’s a lot better than I expected. The other date is the planned closing date, which is 1/28/2016. I suspect that number is a lot more flexible.
The contract also has some important numbers. The one that is news to me is the earnest deposit amount. It’s $1000, twice what I expected. I made a bank transfer of $500 from my savings account in anticipation. Now I have to whip up another transfer.
I also got some additional timeline information out of the contract. I have to apply for the mortgage within 3 days of acceptance of the offer. The mortgage must be completed in 45 days. While that’s going, I have 12 days to do an inspection. If the inspection is a disaster, I can cancel everything and get my $1000 deposit back. Finally, I need to have insurance 15 days before closing.
Unfortunately, my agent misspelled my name on the electronic signature application, so I wasn’t able to sign it. I alerted her and we’ll have this sorted out soon.