Start packing to move out? When? Commonly asked questions when your home goes under contract.
Do not start packing to move out until, among other terms, the below four contract contingencies have cleared between you and the buyer.
- Inspection: Upon completion of property inspections within the inspection period established between seller and buyer, the buyer may withdraw or renegotiate their offer based on inspection findings. So do not start packing.
- Clean Title: This is a seller contingency. So as long as seller provides a clean and marketable title, the buyer cannot utilize this contingency to withdraw or renegotiate their offer based on title findings.
- Appraisal: Upon completion of evaluation within the appraisal period established between seller and buyer, the buyer may withdraw or renegotiate their offer should appraisal value come at below purchase price. Again, do not yet start packing to move out.
- Letter of Commitment (LOC) or Loan Guarantee: Buyer must provide LOC to the seller within LOC period established between seller and buyer. Until then, the buyer can withdraw or renegotiate their offer based on the buyer’s lender’s inability to guarantee the loan.
There are many other terms to be on the lookout. But clearing these four contingencies makes it a safer bet to start packing to move out.
Start Packing To Move Out Handy Links
Below are a few helpful links to aid the process of “where to look” to get things done when you are ready to move to a new home.
- Change of address
- FPL (connect or disconnect electricity)
- Water (connect or disconnect water)
- Schedule a Bulk Waste Pick Up
- Yelp.com: go to this site and type “moving services” to check out companies and reviews on them.
- Amazon.com: type “moving boxes” on the search box and get great deals (free alternative: you can go to your local supermarket during product unloading time to get their boxes. This is usually done around 6am or 7 am).
- Evernote (for you techies that your life revolves around your phone, keep track of all items/schedules via this fantastic app).
Categories: Real Estate Blog