The Process, Step-by-Step
Make an Offer
Let’s evaluate the market, the area and comparables (comps) to determine your offer price
Once both parties agree, you are ‘under contract’. The status changes to Contingent, you deposit earnest money with the title company and our inspection period begins.
This is your opportunity to all your due diligence and our home inspections start. We will generally do a general inspection, a termite inspection and a roof inspection. If warranted, we will also do a sewer scope. Any other inspections you’d like come during this time.
Depending on the outcome, you have the right to cancel (for a material reason) or make repair requests of the seller. These are based on a discussion we’ll have when we are going through the process – it is not about bringing things up to code, or upgrades, or small items. Generally speaking, we’re looking at roof repairs, termite treatment.
Once we make our requests, your due diligence period is over, and the seller then has 5 days to agree to repairs (some or all).
Appraisal and Lending
You’ll be working closely with your lender to turn in all required documents. We’ll order the appraisal and keep things in motion.
You’ll want home insurance and should talk to a couple insurance brokers for the best prices. Consider your deductible too – are you going to use it for major things (i.e. over $5000) or do you have a collection you want to be able to replace (then perhaps $1000 deductible is best).