Deal Impediments and September 11th

By Robin Shapiro

September 11th is a national day of service and remembrance which is observed with memorial ceremonies and flag displays at half- staff.  Schools and businesses generally remain open.

A deal should get put into contract after a price is agreed upon and the house is inspected. Most deals actually get “done” after going into contract. The contract phase is a major step in the process. There are many possible impediments to this step. The real estate broker can negotiate solutions to problems. I often get things resolved myself; I am good at it. However, at this point the lawyers are frequently involved in contentious issues as well. This is why it’s important to have the “right” lawyer: experienced in Rockaway real estate, responsive/user friendly, and knowledgeable. Some issues which can arise:

• Getting the contract written and signed – lawyers are busy, people are busy, and sometimes there are several buyers or sellers who must sign.
• Agreement on an approximate closing date.
• Sale price adjustments based upon the inspection.
• Agreement on a mortgage contingency, or the amount of the down payment.
• Certificate of Occupancy issues and/or title issues.

Call me. Love, Robin.