Buying or Selling a Home/real estate transaction

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Expert: - 12/29/2007


Question
What time of the day is a real estate transaction deemed completed?  Is it the time when signed; the end of the business day or midnight?  Thanks.

Answer
Dear Carla;
It depends upon the transaction: a contract is complete when both parties sign. This means that the conditions that have been agreed upon are executable.  It does not mean that the contract is complete if there are contingencies involved.  so, to make this point a little clearer...once both buyers and sellers sign a contract, the conditions of the contract are enforceable and the contract is valid. In a land or property transfer it is complete when both parties sign as well but is only enforceable when it is recorded.  The only exception would be in the event it has been stipulated that a certain agreement is complete by a certain time of the day or at the end of a business day and both parties agree in writing (and by signature) to this.

Jessica Bryan

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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