Congratulations on getting your offer accepted! As you embark on your homebuying journey, it's essential to understand the key dates in your purchase contract. Let's dive into the seven dates you need to know and track with your real estate team.

1. Accepted Offer Date

This is the official start of your homebuying process. It's the date when both you and the seller have signed the purchase agreement. Why is this important? It sets the clock ticking for your Earnest Money Deposit Deadline.

**Utah Buyers:** Your Earnest Money must be deposited in a Real Estate Trust account within 4 CALENDAR days of your Accepted Offer Date.

2. Earnest Money Deposit Deadline

This is the date by which you must submit your earnest money deposit. It shows the seller you're serious about the purchase and acts as a good faith gesture.

3. Seller Disclosure Deadline

By this date, the seller must provide you with all material facts about the property. This includes:

- Property Condition Disclosure

- Lead Based Paint Disclosure

- Title Commitment Report

- Restrictive Covenants of the Subdivision

- HOA information

- Long and short-term leases

- Property management agreements

- Water rights or shares

- Environmental issues, building code, or zoning violations notices

- Foreign Investment in Real Estate Property Tax Act information (if applicable)

**Important:** Sign and return these documents promptly to acknowledge receipt, not acceptance of the conditions.

4. Due Diligence Deadline

This is your opportunity to thoroughly investigate the property. Get an inspection! It's crucial in our "caveat emptor" (buyer beware) world.

**Key points:**

- You can request repairs or compensation for issues discovered

- The seller can agree to repairs or decline

- You can decide to proceed with the purchase or walk away with your earnest money

5. Financing and Appraisal Deadline

This deadline is crucial if you're financing your purchase:

- The property must typically appraise at or above the agreed purchase price

- Your loan approval must be secured by this date

- Failure to meet this deadline could result in losing your earnest money

6. Settlement Deadline

This is the day you've been waiting for! Settlement involves:

- Signing closing documents at the title company

- Prorating money according to the contract

- Bringing your earnest money and photo ID

**Note:** Closing typically occurs 24 to 48 hours after settlement when documents are recorded at the county courthouse.

7. Possession Date

This is when you get the keys and the house becomes yours. Remember:

- Possession date is negotiable

- Be flexible, as moving can be stressful for both parties

- The seller should leave the house "broom clean" and free of debris

Remember, these deadlines are based on the Utah Real Estate Purchase contract. If you're buying new construction or out of state, consult your real estate professional and carefully review your specific contract.

By understanding and tracking these seven crucial dates, you'll navigate your home purchase with confidence and ease. Happy house hunting!

7 Crucial Dates in Your Purchase Contract