Understanding Contract Timelines in Massachusetts
December 6, 2023By Maggie Li
Understanding Contract Timelines in Massachusetts
In Arlington or Cambridge, time is truly of the essence. Missing a single deadline can cost you your deposit or your dream home.
The Critical 'Drop Dead' Dates
Inspection Contingency: Usually 7-10 days from the offer. You must negotiate or withdraw by this date. Purchase & Sale (P&S): Usually 10-14 days after the offer. This is when the 'real' contract is signed. Mortgage Commitment*: The date by which your bank must officially approve your loan. This is the last 'out' for a buyer.
My Role
I keep a master calendar for every transaction and coordinate with your attorney to ensure every 'i' is dotted and 't' is crossed.
[[CTA]] Ready to move? Let's review the standard MA timeline so you're prepared for the fast pace of our market.