The Binding Agreement Date:
Now that we have a Binding Agreement, the Binding Date becomes Day Zero on our contractual timeline. We are off to the races!
All contingency and inspection deadlines are calculated based on the Binding Agreement Date. The Georgia Association of Realtors (GAR) contract forms default to calendar days. It is also important to know that days end at 11:59 pm under the contract and sometimes negotiations can go all the way to the wire – though very few people enjoy that. Our goal is to work quickly so we do not get pressed up against a deadline.
Don’t feel bad if you are pulling out a calendar and manually counting days just to be sure – many of the pros do that too.
Communication:
The first week during Due Diligence is fast and furious. Lots of things have to be scheduled and done on the Buyer side to make sure the proper inspections get done. Texts are whipping around between agents and their clients to make sure everyone know what is happening and when. Gate codes, lockbox codes and alarm codes are crucial to get. Updates like “Running 1o minutes late”, “running early”, “running long, need another 30 minutes”, “all done here” are all welcome updates during what can be a stressful time.
After Due Diligence, everyone can catch their breath for a minute. Next up will be the appraisal (if there is one) and any agreed upon repairs (if there are any). There will still be occasional communications back and forth to get a closing time, utility info and get additional info to the lender or closing attorney.
About a week before closing, things crank back up – imagine landing a plane. There will probably be 200 emails and texts flying around in the days leading up to closing just to make sure all goes smoothly.
Paperwork:
There will be more paperwork to complete, including disclosures, addendums, and other legal documents. I’ll help you navigate through them and make sure everything is in order.
Inspection:
You’ll have the opportunity to conduct a home inspection to check for any issues with the property. This is your chance to ensure everything is in good condition before moving forward.