23 Sep Time is of an Essence
In the Tax Delinquent Investment business, it would be best if there were a time frame to finalize a contract. If you made an offer today you should let the offer expire ten days from that date. You need to calculate days from the time you send it out in the mail, it takes somewhere between one and four days to get to the recipient, to the seller. Then the seller has about three to five days to make up his mind on whether or not he wants to accept it. That brings you to give a time framed offer.
Even if the seller is out of town, it leaves the a little bit of time for the mail forwarding to occur. It gives a small window for the seller to just leave the offer to sit around or even think it through again. It allows for a lot of procrastination on the seller’s part to happen. If they do not sign it by then, it expires and the offer is no longer valid. It means your offer is null and void. At this point either they have to contact you or you might decide to call them to remind them of these dates.
Now when the offer is signed by the seller and returned to you as certified acceptable you now have to put a time cap for the sale agreement. You need to give the sale agreement about 30 to 45 days before the sale agreement expires. This ensures that in a given length of time the property can go to escrow and is definitely titled to you.
Giving each step of the way a time limit will allow a Tax Delinquent Investor a good gauge of when they can put an investment back in the market. The sooner this can happen, the sooner you can turn your investment into profit. In Tax Delinquent Investing, time is of an essence. This is not a waiting game. You want to be able to forecast when you can close the deal, seal the contract and cash in your investment.
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