Hopefully, we’ve been able to successfully negotiate any inspection repairs or credits and the Coldwell Banker attorneys have reviewed and requested any contract changes to create a solid enforceable contract for you.
Once that happens, the buyer should drop off his/her 2nd/final earnest money check at my office within 2 business days, if stated on the contract. After that point, it’s difficult for the buyer to back out of the contract. If the buyer does back out for any reason other than not being able to get approval for the mortgage, the buyer will most likely lose his/her earnest money back and you’ll get to keep it. Now we patiently wait for the buyer’s loan to get approved and focus on the last remaining items to get you prepared for the closing!