We were very fortunate recently to have a historic record sale at Gulfside Place over the asking price of $2,125,000, sold by Bobbie McGlynn of our office. Great job, Bobbie!!!
Sanibel Case Study 105. What transpires in a sale after the Buyer and Seller agree on a sales price and a closing date? Most of our transactions are written on an “As Is” Sales Contract that allows the Buyer to back out of the contract for any reason within 10-14 days (negotiable). This is also the time period the inspection takes place. The Buyer may ask for a specific repair, but the Seller is not obligated to do the repairs asked for.
A Title Commitment is also required before the Closing. Generally, just prior to the Closing date, the buyer should verify the water bill is up to date (an unpaid water bill is going to become the new owner’s responsibility). This example for simplicity purposes is based on a cash sale. It is my job to monitor to the time frames.