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Each real estate transaction is based through key dates along the contract timeframe, linked to key milestones. Below you will find a list of those milestones:
- Contract Effective Date
- Contract Closing Date
- 1st Deposit Deadline
- 2nd Deposit Deadline
- Inspection Period Deadline
- Loan Approval Period Deadline
- Condo Application Period Deadline
- Condo Approval Period Deadline
Some of the dates for these milestones require actions from the Buyer and the Buyer’s agent that must be completed before the deadline. Please note that calendar days, not business days are used on a Florida AS IS, “FARBAR” Contract. Any deadlines that fall on a Saturday, Sunday, or federal holiday usually move to the next business day.
The Expected Closing Date is the date that the Buyer, Seller, Lender, and Title Company would like to close the transaction. This date may be different from the Contract Closing Date. When the Expected Closing Date is earlier than the Contract Closing Date, FOLIO Title must be informed at least 5 business days prior to the Expected Closing Date to be ready for Closing.
Please click here to learn more about the importance of the Expected Closing Date vs the Contract Closing Date
Please review these dates since this is the official timeline for the transaction. If you see any dates that you believe to be in error, please notify us as soon as possible at 786-888-6640.