Escrow inspections & appraisals

The Process, Step-by-Step

1. The Initial Agreement & Deposit

   Once your offer is accepted, we move from handshake to hard copy. An effective agreement is a binding contract between buyer and seller.

   Key things to remember:
   • Put it in writing. Every conversation—offers, counteroffers, adjustments—should be documented and signed by both sides. I’ll handle all the paperwork, making sure you have organized copies from start to finish.
   • Stay on schedule. The contract will outline specific deadlines for each stage. Hitting those marks keeps negotiations on track and avoids breaches. I’ll keep you updated so nothing slips.
2. The Closing Agent

   A title company or attorney will serve as closing agent—holding your deposit in escrow and running a full title search to confirm the property is clear of liens, restrictions, or easements. If there are limitations (like building restrictions or encroachments), you’ll know upfront.

3. How You Hold Title

   Ownership structure can affect taxes, estate planning, and resale. This is the time to consult your attorney or tax advisor about what works best for you.

4. Inspections

   Once under contract, you’ll schedule inspections within the agreed time frame. You can bring in a general home inspector or specialists (roof, HVAC, structure, etc.). For commercial deals, lenders typically require an environmental audit.

   From here, either:

   1. All goes smoothly, contingencies are lifted, and we move closer to closing, or
   2. We renegotiate terms based on inspection results.

   I can connect you with vetted inspectors who know how to spot issues before they become headaches.

5. Appraisal & Lending

   If you’re financing, stay in close touch with your lender. They’ll arrange an independent appraisal to confirm the property’s value. Appraisers weigh factors like square footage, building quality, recent comparable sales, and income potential.

   Two weeks before closing, double-check with your lender to ensure everything is cleared for funding.

6. Association Approval (If Applicable)

   For condos or co-ops, you’ll need association or board approval. Request their rules, regulations, and application package immediately. Submit all forms and fees accurately and on time. If there’s an interview, schedule it early. Approval letters must be ready before closing so they can be recorded with the deed.

7. Property Insurance

   Lenders require proof of insurance before closing. You can save by:

   • Choosing a higher deductible.
   • Asking about discounts for safety features (alarms, sprinklers, etc.).
   • Insuring the structure—not the land.

   I can introduce you to trusted insurance brokers who specialize in properties like yours.