In regard to first time home buyers or someone who’s buying a property, in regard to the time frame from the time you actually signed the Purchase and Sale Agreement until the time you close, it’s really dependent upon what you put in the contract. You can give yourself a short period of time if you think you can get all your inspections done within that time period or you can give yourself a longer period of time if you feel you need additional for inspections or to obtain financing.
The important thing is when you’re buying a piece of property which is probably gonna be your major investment for your lifetime is that you have someone from Murphy and Fay review that Purchase and Sale Agreement to make sure you are protected as the buyer. Even the standard Purchase and Sale Agreement sometimes have some language in there that I recommend on my client that is either modified or removed. So again, if you’re thinking on buying a property, come to Murphy and Fay and we’ll be more than happy to review your Purchase and Sale Agreement and walk you through the entire process.
This informational blog post was provided by Mark A. Fay, an experienced Rhode Island Real Estate Lawyer.
