TIME AND PLACE OF CLOSING
Selecting the time and place of closing is the choice of the sellers
attorney. The contract date will be usually selected but it is
important that special requirements of the parties be communicated
as early as possible. It is difficult to change an agreed closing
schedule. If a seller or buyer has a particular time or date
requirement or cannot attend a closing on particular days this
should be made part of the contract. If you discover a schedule
problem, tell the party to call their attorney as soon as possible.
Avoid closings on the last two days of the month.
The possession date is a critical part of the contract. Standard
contracts provide for possession at closing. The listing sheet
should contain any unusual seller possession requirements and
this should be discussed with the buyer when the offer is prepared
and with seller when the offer is presented.
The date of any contract is the date of acceptance. This is generally
the date of delivery of the fully executed contract to the purchaser.
If seller makes any changes, there is no acceptance until all
initials are completed and no acceptance date should be entered
until you are certain there is total agreement.
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