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Video instructions and help with filling out and completing one to four family residential contract filled out
Possession you will either check the box that says upon closing and funding or according to a temporary residential lease if the house is vacant then obviously you've got a pretty big clue that the house will be ready upon the day of closing for your for your buyer to move right in if the seller still lives there you will want to ask the listing agent again on how much time will be required for the seller to move out so that the buyer can move in there is a seller's residential lease addendum that you will attach if that is the case but the bottom line is you want to check whether the house will be available the minute everything is closed and funded or whether the seller will retain position of the house for a few days longer or however long the case may be special provisions is a section of the contract that Trek has laid out for us in case there's anything that they forgot to address however we must be very careful in what we put here and be sure that we're not practicing law by what we put here so if you have anything that you believe needs to go in special provisions please talk to me or Tim or one of the experienced agents before putting anything there so that we can make sure that we're not crossing any boundaries that we shouldn't be crossing there are some times that that it is called for to put something in special provisions but we may want to consult with a lawyer first or get some verbage we've already gotten from a lawyer so that we are not guilty of practicing law without a license settlement and other expenses look under Section B sellers shall pay an amount not to exceed blank this is an area where it is critical that you'd be in conversation with the lender who will be doing the loan for the buyer there are several things that can happen here that you need to be aware of number one there are restrictions depending on what type of loan the buyer is getting on how much money can be received from the seller in some cases that limit may be 3% in some cases it may be 6% you need to know what that limit is so that you're not asking for a different amount than what the seller is allowed to pryou need to know what the closing costs and prepaid expenses are from your lender because number two if you ask for money from the seller and there's no place to put that money that money will go back to the seller so be sure that you always know what the limits are I wanted a seller can pay and then be sure that you have enough places to put that money so that you don't leave money on the table we will skip page six