The Real Estate Offer Stage: Realistic Dates, Contingencies & Pitfalls with Attorney Shivani

Описание: Navigating the offer stage is about more than just the price. In this episode, Nadia Mounsif and Attorney Shivani break down the legal and strategic nuances of crafting a winning (and safe) offer. From the importance of "official" legal names to the hidden risks of Title V septic systems and probate court, we provide the clarity you need to move from "searching" to "signed.".

Key Insights in This Episode:
The Power of Dates: Why you should never pick random dates for your closing or P&S. Once an offer is accepted, the terms are binding and sellers do not have to agree to changes..

The 5% Deposit: Ensure your funds are liquid and available. The larger deposit is typically due at the Purchase and Sale (P&S) agreement, and "getting money out of an investment" last minute can jeopardize the deal..

Legal Identity Matters: Use your full legal name as it appears on your passport or driver’s license—avoid nicknames like "Jim" if your legal name is "James.".

The "Inspection Aggregate": Understanding how a dollar-amount threshold (like $5,000) for repairs affects your right to renegotiate or terminate..

International Funds: If receiving gift money from outside the U.S., it must typically sit in a U.S. account for at least three months to avoid money laundering red flags..

Septic & Title V (Massachusetts): The critical importance of verifying bedroom counts. A house might be listed as four bedrooms, but the septic may only be rated for three, which can halt a mortgage..

New Construction Warnings: Why you should expect significant delays (sometimes up to 6 months) for a Certificate of Occupancy, especially in areas like Somerville..

Timestamps:

00:00 – Why offer dates are legally binding
02:16 – Communicating custom contingencies (Pets, Job Changes)
04:00 – Managing the 5% deposit funds
05:33 – Strategic Pricing: The "Bidding War" game
09:21 – Explaining the $5,000 Inspection Aggregate
14:15 – Red flags with international gift money
15:00 – Avoid becoming "homeless" between leases
18:08 – Appraisal vs. Mortgage contingencies
21:00 – Radon testing and mitigation
23:28 – Septic systems, Title V, and bedroom counts
30:00 – The risks of buying a home in Probate
32:20 – New Construction: Certificate of Occupancy delays