Contingencies
These are considered the "Big Three" in most offers.
What are Loan, Appraisal, and Investigation.
This is the default method for deposit of Buyer's initial deposit.
What is wire transfer?
Name one of the two Addendums to use if a Buyer, against Broker advice, insists on moving in, or moving their possessions in before close of escrow.
What is Buyer Early Occupancy Addendum or Buyer Pre-Occupancy Storage Addendum?
The Buyer has this many (default) days to have "informational access" to the property, regardless of any investigation contingency.
What is 17 days?
Acceptance.
What is Insurance Contingency?
The Seller and authorized agent are or are not permitted to contact the buyer's lender for the status of the buyer's loan.
What is ARE? The Seller may contact the Buyer's lender for a status, even if there is no loan contingency.
This Addendum is required if any adult person, other than the Seller, is occupying the Property, whether or not paying rent, is living in the property at the time of acceptance, whether or not that person(s) will occupy the property after close of escrow.
What is the Tenant Occupied Property Addendum?
When a Buyer has an investigation contingency, she has this many days after receipt of a Seller document, or her investigation contingency timeline, whichever is later, to review the document.
What is 5 days?
Authorized Agent
What is the Broker, salesperson, broker-associate or any other real estate licensee licensed under the brokerage firm identified in paragraph 2B.
These are two contingencies that a Seller might build into a contract.
What are 1) finding a replacement property and 2) closing the replacement property.
This is the definition of a "Fully Underwritten Preapproval."
What is there is no lending industry standard for this term?
This Addendum is required if a building containing 3 or more units has wooden balconies, decks, stairways or other structures which are at least 6 feet above ground level.
What is Wooden Balconies and Stairs Addendum?
A Seller has this many days to respond to a Buyer's Repair Request or it is deemed revoked.
What is 3 days?
Deliver/Delivered/Delivery
What is upon personal receipt of the document by Buyer or Seller or their authorized agent?
These are the five options a Buyer has when a contingency timeline is due.
What are 1) do nothing, 2) remove the contingency, 3) ask for more time, 4) ask the seller to do something, 5) cancel the contract.
This is what happens in the absence of a separate written agreement between the parties in the event that the Lender Allowable Credit exceeds the Contractual Credit.
What is nothing? In the absence of a separate written agreement, there is no automatic adjustment to the purchase price to make up for the difference between the Contractual Credit and the Lender Allowable Credit.
This Addendum is subject to audit by the Environmental Protection Agency.
LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS DISCLOSURE, ACKNOWLEDGMENT AND ADDENDUM For Pre-1978 Housing Sales, Leases, or Rentals
If a Buyer has not removed her investigation contingency timely and the Seller wishes to cancel, this must be done and this is the timeframe.
What is Issue a Notice to Perform, and the timeframe is 2 days before the Seller can cancel?
What is calendar day or days? However, delivery of deposit to escrow is based on business days.
These are three leased items that would create a contingency in favor of a Buyer.
What are 1) solar panels, 2) propane tanks and 3) water softeners.
This is the form used to request any FHA or VA lender- required repairs.
What is Request for Repair or Amendment of Existing Agreement Terms?
This Addendum must be used when a Buyer is added to the RPA.
What is Assignment of Agreement Amendment?
The Seller is required to provide known past insurance claims for this many years.
What is five years? (RPA11N)
Legal Holiday
What is any holiday or optional bank holiday under the civil code sections 7 and 7.1, and any holiday under the Government code 6700?