TRID – OFFER TO PURCHASE TIMELINE

(BASED ON 50-60 DAY CLOSING TIMELINE FROM ACCEPTED OFFER)

SIGN PURCHASE AND SALE AGREEMENT -à 14 DAYS FROM ACCEPTED OFFER
INSPECTION CONTINGENCIES à 7 DAYS FROM ACCEPTED OFFER
MORTGAGE CONTINGENCY à 36-45 DAYS FROM ACCEPTED OFFER
CLOSING à 50-60 DAYS FROM ACCEPTED OFFER
***USE ATTACHED TRID ADDENDUM TO ALL OFFERS!

© Richard D. Vetstein, Esq. (rvetstein@vetsteinlawgroup.com)

TRID ADDENDUM
Property: _______________________________________
Truth In Lending Integrated Disclosure Rule (TRID) Compliance.
1. The BUYER shall obtain and promptly disclose to the SELLER the name of the
attorney engaged to represent the BUYER’s mortgage lender (“Lender’s Counsel”).
2. The SELLER and the BUYER shall furnish to Lender’s Counsel as soon as possible
and in any event no later than 20 days in advance of the scheduled Closing all data
known or available to or otherwise obtainable by such party and required in order to
calculate the adjustments provided for in the applicable clause of the Purchase and Sale
Agreement or requested by Lender’s Counsel in order to prepare the Closing Disclosure.
3. At the request of Lender’s Counsel, the Closing will be extended for up to 8 days or
longer as may be necessary in order to assure full compliance with the Integrated
Disclosure Rule.
4. No less than 20 days prior to the scheduled closing, all final utility readings
(water/sewer, oil/fuel) shall be conducted and submitted to the Closing Attorney. The
Closing Disclosure/Settlement Statement shall reflect adjustments and payments as of the
reading date, however, the parties may reasonably estimate fuel adjustment as of the
closing date. There shall be no further adjustment unless the parties agree otherwise.
5. Neither party shall have any claim against the other for any loss or damage resulting
from the extension of the Closing pursuant to the preceding Paragraph 3 except to the
extent that such extension is made necessary by a breach of the provisions of this
Addendum.
6. The Buyer may be permitted to have two (2) walk-throughs, the first up to 14 days
prior to closing and the second within 48 hours prior to closing. The parties understand
that any holdback or adjustments on the Closing Disclosure will likely be subject to
lender approval.
7. The foregoing provisions shall be incorporated into the Purchase and Sale Agreement.

SELLER: _____________________________

BUYER: _____________________

SELLER: _____________________________

BUYER: _____________________

© Richard D. Vetstein, Esq. (rvetstein@vetsteinlawgroup.com)