Mutual Acceptance of Purchase Contract Real Estate Critical Date List
- Buyer to deposit Earnest Money with Escrow Company: Upon Acceptance.
- Buyer to provide lender with Loan Application (within 3 days after Contract acceptance).
- Buyer to grant lender permission to access Credit Report (within 3 days after Contract acceptance).
- Seller to deliver SPDS (within 3 days after Contract acceptance).
- Seller to deliver Insurance Claims History (within 5 days after Contract acceptance).
- Buyer to receive Loan Estimate (LE).
This stage begins the home sale timeline, where early financial and disclosure steps must be completed on time to keep the transaction moving forward.
- The seller to notify HOA of pending sale is over 50 units (5 days after Contract acceptance).
- 10 days after Contract acceptance if less than 50 units.
- 10 days after HOA’s receipt of notice if 50 or more units.
- Buyer to supply LSU (within 10 days after Contract acceptance).
- Buyer to provide notice of any items disapproved within the SPDS (5 days after receipt/Inspection Period).
- Buyer to provide notice of any items disapproved within the Insurance Claims History (5 days after receipt/Inspection Period).
These inspection and disclosure review steps are key contract critical dates that protect the buyer’s rights and define response deadlines for both parties.
- Buyer to apply for Homeowners Insurance (Inspection Period).
- Buyer to order Termite or Insect Inspection (Inspection Period).
- Buyer to deliver Inspection Notice (Inspection Period).
- Seller to deliver response to Buyer’s Inspection Notice (5 days after receipt).
- Buyer to deliver reply to Seller’s Inspection Notice response (5 days after receipt).
- Buyer to provide lender Notice of Intent to Proceed with loan (within 10 days of receipt).
- Buyer to provide lender all signed disclosures and documentation listed in LSU at lines 32-35 (within 10 days of receipt of LE).
- Buyer’s disapproval of HOA documents (5 days after receipt).
- Buyer may cancel in the event of low appraisal (5 days after notice).
These lending and approval milestones connect closely with property marketing sources such as MLS Listings, where accurate status updates depend on meeting each deadline.
- Buyer’s Homeowners Insurance in place (COE).
- Buyer to perform Walkthrough(s).
- Buyer to receive Closing Disclosure (CD) no later than 3 business days prior to signing.
- Buyer to sign Loan Documents (no later than 3 days prior to COE) OR Buyer to have funds in Escrow to allow COE on COE Date.
- Seller to complete repairs (if any) and provide receipts to Buyer (3 days prior to COE).
- Buyer’s disapproval of Title Commitment/Schedule B, etc. (5 days after receipt).
- Buyer to deliver Notice of Loan Approval without PTD conditions and date(s) of CD receipt from lender (no later than 3 days prior to COE).
- Buyer to deliver Notice of Inability to Obtain Loan Approval without PTD conditions (no later than 3 days prior to COE).
All of these final steps form a complete closing timeline checklist, ensuring documents, funds, and approvals are ready before recordation.
- Recordation of Documents (COE).
- Seller to deliver possession, keys, security system/alarms, mailbox, etc. (COE).
In alternative selling situations such as a Real Estate Auction or Flat Fee MLS transaction, similar deadlines still apply, though timing and responsibilities may vary slightly depending on the agreement struc