Build deadlines for every major milestone: mortgage commitment (30 days), board package submission (10 business days after commitment), condo application submission (5-10 business days after contract), title search completion (14 days), and a hard closing date with a TOE-ready buffer. Each deadline should carry a consequence - either a right to cancel or a per-diem penalty - so every party has financial incentive to perform on time.
This article provides general educational information only. It is not legal, tax, financial, insurance, compliance, housing, brokerage, or professional advice. Rules, tax rates, obligations, enforcement practices, and market conditions vary by property, building, contract, municipality, and jurisdiction, and they change. Sellers should consult a qualified attorney, CPA, or other appropriate professional before making decisions based on their specific situation.
From the seller playbook: Preventing Closing Delays
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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