Inspections and Appraisals-
If the buyer is using a lending company (most buyers do) then they will send an appraiser- they are there strictly to determine the value of the property. They do this by checking the total square footage, and any improvements you might have made. The buyer will also have inspectors come out to check the condition of the property. This inspection will also determine the condition of the property.
The Closing Agent-
When you get closer to closing time, you will need to choose a closing agent. This is a third party that is either a title company or an attorney. They will be checking to make sure the deal between the buyer and the seller have come to a fair agreement and that the title and loan have all been approved and free of any restrictions.
Before a contract becomes legal, there are conditions that must be met, these are called contingencies.
The most common example and renegotiation is dependent on the home inspection. The buyer might send a purchase agreement or an addendum.
Once a signed agreement or addendum is sent one of two things can happen.
1. Each condition is met and both parties have agreed to the term and move to close.
2. One of the two parties requests new terms for the contract and is sent to the other party.
We are here to help you through either of these outcomes and negotiate with the seller’s agent to come up with new terms. We do with your best interest in mind. Each of our agents has bought and sold several properties so with our experience we guarantee our expertise and commitment to our customers.
Loan Approval and Appraisal-
We require that each buyer provides a pre-approval letter from their lender. Yet this is all subject to the appraisal of the property.