Shortly before Christmas I closed an offer on a home. When I am writing an offer I really like to take my time to explain the process, up to the delivery of the key. If you write an offer with me, plan to spend at least 90 minutes doing it.
A few days after closing the deal (on paper) the buyer e-mailed me about the closing date. He and his wife have challenging work schedules and wanted to make sure they took the necessary time off from work.
As soon as I saw the question I realized I had not done the best job I could have in explaining the escrow and closing dates.
In Cleveland Ohio and the surrounding markets it is quite common to see, as an example, an escrow date of 2/8/11 and a closing date of 2/9/11. Basically this means that the buyers will need to set aside about one hour on the 8th to meet with the escrow agent to sign their final loan and title documents and deposit their funds. On the day of closing, the 9th, there is nothing a buyer needs to attend. On the day of closing, a title representative takes all the deeds that will file on that day down to the recorder's office to make sure they are recorded. Once recorded, the listing and selling agents will each get a phone call letting them know that the home has transferred title. In most cases, the keys can be delivered right way, unless the contract calls for something different.
So, the bulk of the time you will need as a buyer is
*a couple of hours to write the offer
*3-4 hours for inspections
*time to reinspect any repairs made by the seller
*1-2 hours for your loan application
*about an hour for the walk through, usually 2 days prior to closing.
Don't hesitate to call me if you have questions about closing on a home in Cleveland Ohio!
If you would like to buy or sell a home in the southern communities of Cleveland Ohio, please call me at 440-263-7496, or you may want to visit my website for more specific information on the communities I service: Brecksville Ohio Real Estate, Broadview Heights Ohio Real Estate, North Royalton Ohio Real Estate Independence Ohio Real Estate, Seven Hills Ohio Real Estate, Parma Ohio Real Estate, Parma Heights Ohio Real Estate and Middleburg Heights Ohio Real Estate. Information is obtained from Neohrex (Northeast Ohio Real Estate Exchange) and is deemed reliable but not guaranteed and should be independently verified. Properties subject to prior sale, rental, or other status changes. All properties that are advertised as being listed or sold by Barb Szabo are in conjuntion with ReMax Trinity.
 |
 |
 |
