This week Dawn begins her series, Changes to the Contract. The new forms become mandatory on May 15th. Today's Tip addresses due date of the earnest money.
Thank you for the update. Very informative.
So what is the answer if the EM is due on the 3rd day but the third day is not a legal federal holiday?
I left that unanswered because I don't know the answer. If the title company is closed, but it is not a Saturday, Sunday or legal holiday, under your new contract the earnest money is still due. I was trying to point out this potential problem hoping people can plan around it i.e. get the earnest money to the title company immediately. Good luck.
Dawn, thanks for your tips! As always your presentation is specific, clear, and very helpful.
Thank you for your clarity!
As always, your information is extremely valuable! Keep up the great work!
Thanks for this update
Thank you, Dawn! It's wonderful to have you keep us updated!
Does it count as received if 3rd day is not Saturday, Sunday nor legal day if they sent a wire and the wire is there on the 3rd day but will not be processed until the next business day?
This question is tricky. My bank should receive same day it is wired, unless they send it late in the day. To avoid the issue, if a wire is to be sent, it should be sent no later than 3 pm.