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Boston Midtown condos for sale – Under Agreement

True or false:The average length of time a Boston Midtown condo spends Under Agreement has gone down over the last ten years, thanks to technological improvements.

False! The Under Agreement period is a very important period of time in the Boston Midtown condo for sale transaction, and I don’t expect to see shortening anytime soon. Yes, electronic signatures are great, but it still takes an average of 30-45 days to Place a Boston Seaport District condo for sale from accepted offer to final closing, and that’s a good thing.  Why” The appraisal has to be ordered, performed, and reviewed. The title company can do their work ensuring that the fine details about the property are out in the open (title reports), and the mortgage officer can get the loan ready to go (underwriting).

Once the Boston Midtown condo is Under Agreement its mine

False! As a home buyer, whether in downtown Boston or any other locality, when you make an offer on a Boston Midtown condo, you are expected to write a check showing that it’s a “good faith” offer.. This is the earnest deposit – it goes toward the final purchase price of the Boston downtown condo for sale and is part of the down payment. If the seller accepts the offer, the earnest deposit check is typically be placed in escrow and cashed. The cash then goes into an escrow account, where it stays until the deal is closed and the home changes hands. 

A larger deposit can make up for a low ball Offer on a Boston Midtown condos

False! The earnest deposit is not money above and beyond the purchase price of the Boston downtown condo— it’s included. That means that if the buyer offers a high 10% earnest deposit, that’s still 10% of the entire offer. The seller is going to get all the money at the same time — remember, it’s all sitting in an escrow account, waiting for the home to close. So a fat earnest deposit does sound nice up front, but savvy home sellers aren’t going to be tricked.