Inspections & Appraisals

Most buyers will request a property inspection by a licensed inspector to confirm that all contract details align with the property’s condition. The timeline for these inspections will be specified in the Purchase Agreement. In some cases, buyers may bring in specialized inspectors for specific parts of the property, such as the roof, plumbing, or HVAC systems, to ensure everything meets their standards.

If the buyer is securing a loan, a licensed appraiser will also likely evaluate the property. Lenders require an appraisal to confirm the property’s value aligns with the loan amount, as the financing contingency in the Purchase Agreement hinges on the property appraising for the expected value. This third-party appraisal protects both the buyer and the lender, ensuring an accurate valuation.

The Closing Agent

A title company or attorney will serve as the closing agent, or escrow, to ensure a clear title transfer. After examining your property’s recorded history, the closing agent certifies that the title is clear of encumbrances, such as existing leases, mortgages, or restrictions, by the closing date. This essential process allows for a smooth title transfer from seller to buyer, with the closing agent acting as a neutral third party to manage all funds and paperwork involved.

This careful approach provides reassurance for both parties, ensuring that each step of the transaction is clear, fair, and accurate.