Relocate to Wisconsin : Time is of the Essence...It's Not Just an Expression....

Time is of the Essence...It's Not Just an Expression....

   "Time is of the essence"...it's more than just an expression...a wish...a casual remark...it IS the way it IS...and it applies to every part of a real estate transaction.  When you Timelinesign a contract....Listing or Purchasing...there are different things that you agree to do within specific timelines.  It may be the response to an offer or an amendment. In Wisconsin if you are choosing not to accept either of the aforementioned documents and wish to change it through a counter offer...the timeline is discarded and you respond on your own timeline. 

   If you have an accepted offer, there are timelines for doing inspections and depositing earnest money ....You as the Buyer(s) set those timelines and the Seller(s) have agreed to them..your obligation is to honor those dates and times.Calendar Pages IF for some legitimate reason, the timeline cannot be honored...all parties...Buyers and Sellers have to agree to amend the the timeline to a new date that works for everyone. 

  If you are the Seller(s) in  a short sale there are more deadlines for the production of documents of various kinds...or updated documents....the Lender is forgiving ...or considering forgiving a part of the debt you owe and they call all the Upside down houseshots as to what is due when or reserve the right to close the file. The minute you stopped paying the mortgage, the right to decide anything is gone. 

    Your very conscientious and professional agent on whatever side of the transaction will remind you what is due when and where throughout the transaction.  Honor those dates...you agreed to them...you had the other party agree to them....and wheels are in motion to close the transaction.

       Time really IS of the essence...and in southeastern Wisconsin for timely, professional transactions, call the Hansons....we are honored to be of service.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Comment balloon 18 commentsSally K. & David L. Hanson • June 12 2017 12:03PM

Comments

When I hear this phrase that means to me DO IT NOW AND NOT LATER

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (Real Estate and Beyond, LLC) 12 months ago

Good morning Sally and David. Some pay little attention to "time is of the essence", especially lenders! What happened to the good old days? Enjoy your day!

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) 12 months ago

Thank goodness there are deadlines. Can you imagine the mess if there were not any!

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) 12 months ago

Good morning, Sally and David -- words, terms and phrases have consequences.   Good way to explain "time is of the essence".   

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) 12 months ago

Timing is everything in real estate!  I have had clients that were insistent and haggling back and forth, only to lose out on the home becuase someone else came along before they were done haggling, haha.

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 12 months ago

In Wisconsin, when hiring Sally and David Hanson, they will keep you informed all the way through theReal Estatea transaction because they know what Time is of the Essessence is all about.

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) 12 months ago

I agree with Harry F. D'Elia on this.  Don't put off until tomorrow what can be done today.

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 12 months ago

And yet... so many people think they can ignore deadlines.

I recall one would-be buyer who was incensed because he failed to accept a counter-offer in a timely manner and the property was sold to someone else.

Posted by Marte Cliff, your real estate writer (Marte Cliff Copywriting) 12 months ago

Great topic and i explain to my sellers and buyers what this means before we even start Sally K. & David L. Hanson 

Posted by Scott Godzyk, One of Manchester NH's Leading Agents (Godzyk Real Estate Services) 12 months ago

Sally and David many Buyers just don't seem to understand that missing the dates agreed to on the sales contract can cost them the earnest money deposit if the miss the dates.  The dates are there for a reason and need to be met.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 12 months ago

Good morning Sally.  Some agents I know still don't get this.  They operate on their own time schedule

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 12 months ago

Good morning Sally and David.  It seems that many feel that time is of the essence only applies to the other parties involved in the transaction.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 12 months ago

Sally, it can be such a pain to poke the other agent..one who is on top of the transaction makes all the difference...that is why Buyers/Sellers in WI need to call the Hansons to action!

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) 12 months ago

This is very important advice to share with home buyers and home sellers.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 12 months ago

Dear Sally & David,

Unfortunately, we are still with a number of short sales. Pain in the neck, but often a good deal, when they finally close. Keeping on top of deadlines is good.

Posted by Dörte Engel, ABC - Annapolis, Bowie, Crofton & rest of Maryland (RE/MAX Leading Edge) 12 months ago

Great advise for both buyers, sellers and newer agents as it's the agents responsibility to make sure the client is meeting those deadlines. Missing one could mean a canceled contract, lost escrow money or even litigation. Litgation is the last thing anyone what to have happen. Just get it done !!!

Posted by Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA, Providing the integrity and service you deserve. (Future Home Realty) 12 months ago

This is very important information for agents and the consumer.

A contract is a legal document and the terms agreed to are binding on the parties that signed.

Some people think of time as something that is a matter of convenience for them. That kind of thinking can be a very expensive mistake.

Thanks

 

Posted by John Wiley, Lee County, FL Real Estate GRI, SRES,GREEN,PSA (Right Move Real Estate Group- EXP Realty) 12 months ago

Deadlines are part of our cover sheet for every transaction.  

Posted by Anna Hatridge, Missouri Realtor with Goodson Realty (Goodson Realty) 12 months ago

Participate