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Escrow Inspections and Appraisals

MAKE AN OFFER ON A HOME

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Now that you have found that perfect home for your family, it is time to put together an offer. Prior to officially submitting the offer, there are some items to consider:

  • Price – What price are you comfortable submitting? That price should be based on: comparable value for similar homes, condition of the home and amenities. The price should reflect what you are willing and able to pay for the home.
  • Terms – What are certain terms you have regarding the purchase? These could be all appliances and window treatments convey. The examples could go on and on, but are really home specific.
  • Contingencies – What contingencies are you comfortable presenting so that you may back out of the deal? These could be financing, certain home inspection results, and time frame considerations. A lot of these are unforeseen items.

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The offer contract you and I put together will be very detailed and include the items on the first slide. However, it will also contain very specific information like the legal description, fees and designation what party will pay them, and the price, terms, and specific contingencies for the home.

Depending upon your offer, you may see a counter offer to either change the sales price from what you offered or to clarify some terms. This is where I perform the best, negotiating on your behalf. Clear communication at this point is critical in my ability to represent you.

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DUE DILIGENCE

After the home is pending, under contract, we will need to coordinate many different items: (note not all items may be required and additional items may be needed)

  • Home Inspection(s) – this could include items like: general, HVAC, termite, radon, septic, etc.
  • Home Appraisal(s) – type and number depend upon lender and if you will be using any federal programs like FHA, VA, or USDA.
  • Title Search – the Title Company will perform a search to ensure the deed is ready to be transferred. Potential unknown items like encumbrances or liens will be identified at this point.
  • Home Insurance – finalizing your home insurance options is critical in this stage too.
  • Home Warranty – maybe you are buying a new home with a warranty, but if you are not are you aware that you can still purchase a home warranty? Let’s discuss if this is a good option for you.
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