What Buyers SHOULD know when signing an as-is real estate contract in Pompano Beach
Disclaimer: Oliver Hoffmann, Broker for Pompano Beach Realty Corporation specializing in Pompano Beach Real Estate is not an attorney nor is he providing legal advice in this article. The content of this article is of informational purpose only and his interpretation of the as-is contract. Please consult with your attorney when purchasing real estate.
In Pompano Beach the As-Is contract is the most commonly used contract used for the purchase of real estate.
In this article, I want to go over some of the most important dates in the as-is contract that a buyer should observe when purchasing property.
Dates on the As-Is Contract
The dates in the As-Is contract are counted in calendar days and NOT in business days, so it is important for the buyer not to miss any deadlines as this might result buyer being in default of the contract putting their earnest money deposit at risk and exposing themselves to a potential lawsuit from the seller.
It is the BUYERS responsibility to make sure all those deadlines are met!
The dates in the As-Is contract are based on the effective date.
The “Effective Date” is the date when the last party to the transaction has signed and or initiated the contract or counter-offer AND this […]