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Jim Ruddy Team
Gold Key Certification, REALTOR®, SRES, U.S. Military on the Move Certified Military Specialist
(407) 718-0984
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Our contract to purchase has a number of timelines that we must accomplish specific action items within, we will list them here along with some additional TO DO's.

The first 5 should be accomplished in the first 5 days after the seller has accepted our offer.

1. Provide your lender with a copy of the completed contract.

2. Complete all the forms the lender requires and supply them with all the documents they request within 3 days.

3. Contact Home Insurance Companies and identify who you want to do business with.

        We recommend that you do this in the first 5 days as Hurricane season can Freeze insurance policy generation and delay closings. 

       The Insurance Company may require a 4 Point Inspection (see the Blog) make sure of this before you order your inspections (the inspector can provide it to you) but you must ask. 

4. Contact and schedule a Home Inspection, Termite inspection and any other inspections you and your lender may require (some require and we recommend a Septic inspection).

          Do you need a 4 Point?

5. Assure your Escrow deposit has been turned in within the time limit on the contract. Call us if you are unsure of that time frame 407-718-0984.

6. If we have a Home Owners association do we have a copy of their Restrictions? 

          Do they require approval? (If they do, this needs to be completed in the first 5 days aswell)

7. Review all inspection reports, define and priorities repairs needed, discuss with us within 24 hours after the report has been delivered to you.

          Remember the seller is not required to do all repairs.

8. Your lender should provide you with a Good Faith Estimate of all the fees you will have in your closing within 2 days after you provide them with the contract. (Very important so you understand all your closing costs, we also suggest getting a second opinon from another lender to see if you can get better rates).

9. So what happens if the house does not appraise? All parties have options.

Options are:

1. Seller or Buyer can walk away.

2. Seller and Buyer can come to an agreement on a new Sales Price (usually the apparised price).

3. Buyer can purchase the home at the agreed upon price if they have enough down payment.

4. In 2021-2022 Buyers were paying what was called a GAP, where the Buyers would pay anywhere from $20,000-$60,000 over the appriased value. Some Buyers would waive the appraisal entirely and their inspections, very different market.

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 10/06/2022. The listing information on this page last changed on 10/06/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of GAMLS (last updated Thu 10/06/2022 9:14:27 AM EST) or Stellar MLS (last updated Thu 10/06/2022 12:03:07 AM EST) or SPC MLS (last updated Thu 10/06/2022 9:13:23 AM EST) or Martin MLS (last updated Thu 10/06/2022 9:17:09 AM EST) or Indian River MLS (last updated Thu 10/06/2022 9:09:20 AM EST) or Daytona MLS (last updated Thu 10/06/2022 9:15:39 AM EST) or New Smyrna MLS (last updated Thu 10/06/2022 9:16:09 AM EST) or Northeast Florida MLS (last updated Thu 10/06/2022 9:17:42 AM EST) or Beaches MLS (last updated Thu 10/06/2022 9:16:38 AM EST) or BORMLS (last updated Thu 10/06/2022 9:18:35 AM EST) or Golden Isles MLS (last updated Thu 10/06/2022 9:16:05 AM EST) or Gainesville MLS (last updated Wed 10/06/2021 8:39:37 PM EST) or Amelia/Nassau MLS (last updated Thu 10/06/2022 9:15:28 AM EST) or Dixie Gilchrist Levy MLS (last updated Thu 10/06/2022 9:17:13 AM EST). Real estate listings held by brokerage firms other than Watson Realty Corp. REALTORS may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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