We need to get one written up and signed by an attorney how long does it usually take? We are trying to get it done really fast! Thanks.
Tags: Attorney, Contract, Does, Indiana, Land, Long, Take, Through
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30 minutes if you are really in a hurry. What is the price, what is the financing, will the seller be carrying the loan; if so what is the interest rate and what are the monthly payments. How long will the loan be for. What is the closing date. Sign and date it..
How long it takes to write up the contract (provided you have all required info), and how long it takes to process, are two different things. If I was the buyer, I would want the seller to provide title insurance (at least that is normal in IL and WI). And it should also be recorded at the county, so there is a public record of it.
If the seller has any financing on it, payments should be done with cooperation of their lender, so those payments are made first before seller gets anything. Most loans have a due on transfer clause (which could make their loan due in full immediately). Or some sellers have kept payments and let the property foreclose.
Why the need for speed? If you are trying to hide something, it may backfire.
to write the contract it can take one hour. then you have to get it accepted by the person you are buying from. at that point there is an attorney review process which can take from 3 days to 1 week. then they will let you know if there are any contigencies and then you will be under contract and then to close can depend 1 day to 4 months. all depends on attorneys