Erika D'Argenio
Coldwell Banker Realty

Contract to Close

Contract to close is the time period between a signed contract and closed transaction. This is the most important and crucial period in the transaction. Have your agent provide you with a timeline of deadlines that need to be met. There are many deadlines in a contract that need to be met and if they aren’t met the buyer is considered in default and their downpayment is at risk. 


Important deadlines to ask your agent about:


  • When is the first escrow deposit due? Is it to accompany the offer or be provided ___ days after the effective date? 


  • Is there a second escrow deposit due? If so, when is that date?


  • When does the inspection period expire? The inspection period is a time for the buyer to do their due diligence on the property. 


  • When is the loan application and loan approval date? 

These are just some deadlines to consider. Ask your real estate agent if there are any other deadlines that need to be met. It is also best to have your agent confirm with the listing agent the dates for the deadlines to ensure there is no confusion throughout the contract period. 




Appraisals are the second most common reason that deals fall through (inspections are the number one reason). Mortgage lenders require appraisals to be done in order to determine the property valuation. When the property valuation is lower than expected it can result in delays in the transaction. If the appraisal comes in low work with your agent to see if you can come up with a solution. 




It is important to understand the urgency is receiving financing for a property, especially when there is a deadline in the contract to apply for a mortgage. Be sure to set aside the proper amount of money for the downpayment and closing costs. DO NOT make any big purchases while under contract. Do not take out a car loan, do not quit your job, try to avoid opening lines of credit. Banks question any meaningful transaction while you’re applying for a mortgage. Your credit is being monitored up until the closing date. 


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Erika D'Argenio

Erika D'Argenio

My name is Erika D’Argenio. Originally from the Washington DC area, I relocated to South Florida to enjoy the warm weather, beautiful beaches, and diverse culture. Prior to entering real estate, I was an elementary school teacher which gave me the ability to recognize and value the trust and confidence that individuals place in me and gave me the discipline to exceed those expectations each day. As an empathetic, hardworking, and trustworthy professional, I will help you maneuver one of the most significant and stressful life events of buying or selling a home with ease. By working with Coldwell Banker, my expertise in market knowledge and online marketing allows me to help buyers and sellers make confident decisions in today’s real estate market.

I strive to do more than just help buyers and sellers, I strive to establish a life long relationship with customers through my enthusiasm, professionalism, and positivity.