INSPECTIONS & APPRAISALS

The Process

Under Contract

Once your offer has been accepted, you'll enter the contract phase of the transaction. During this stage, your real estate agent will help coordinate deadlines, paperwork, inspections, financing requirements, and communication between all parties to keep the transaction moving smoothly toward closing.

Earnest Money & Purchase Agreement

The purchase agreement outlines the terms of the transaction and serves as the roadmap for the closing process. It's important to keep records of all agreements, amendments, and communications throughout the transaction.

After the contract is signed, you'll typically submit earnest money, which is held by a neutral third party until closing. Your agent will help ensure all contractual deadlines and contingencies are met on time.

Title & Closing

A title company or closing attorney will oversee the closing process and help ensure the property's ownership history is clear and transferable. They coordinate the transfer of funds, prepare closing documents, and work with all parties involved to facilitate a successful closing.

Before closing can occur, all agreed-upon contingencies, inspections, financing requirements, and title matters must be completed.

Inspections & Due Diligence

A professional home inspection is one of the most important steps in the buying process. Inspections can identify potential issues with the property and provide valuable information before you finalize your purchase.

Depending on the property type, additional inspections may be recommended, including roofing, plumbing, HVAC, pest, environmental, or structural evaluations. If significant concerns are discovered, you may have the opportunity to negotiate repairs or other terms with the seller.

Financing & Appraisal

Stay in close communication with your lender throughout the transaction. Your lender may request additional documentation as your loan moves through underwriting.

Most financed purchases require an appraisal to confirm the property's value. The appraisal helps ensure the home's value supports the agreed-upon purchase price and satisfies lender requirements.

Property Insurance

Before closing, you'll need to secure appropriate insurance coverage for your new property. Homeowners purchasing a primary residence typically obtain homeowners insurance, while investors may need landlord insurance or other specialized coverage.

Closing Day

Once all requirements have been satisfied, you'll attend closing to sign the final documents and complete the transfer of ownership. After closing is finalized and recorded, you'll receive the keys and officially become the property's new owner.