Frequently Asked Questions

I have a signed contract, what’s next?

Once the Contract is signed by both the Buyer and the Seller, each party’s attorney has three business days to review and/or revise the Contract. During this “attorney review” period, your attorney will discuss the Contract with you to determine whether changes are needed. Your attorney will then send a review letter to the other party’s attorney, and that attorney will then respond with his or her own review letter. These letters will create revised or additional terms of the Contract. The Contract will remain in "Attorney Review" until all parties have reached an agreement as to the final terms. It’s important to note that the Contract is not binding during the Attorney Review period.

In order to determine the structural soundness and safety of the property, a professional home Inspections should be done shortly after the conclusion of the Attorney Review period. Once the inspections are completed, the attorneys for each party will work to negotiate a resolution with regard to any inspection issues.

While all if this happening, Buyers should be working to obtain a mortgage commitment and to secure home-owner insurance for the property. Sellers should be working to obtain the Certificate of Occupancy and/or Smoke Detector Certificate from the town in which the property is located.