Inspections & Appraisals

Property Inspection

Most buyers will have the property examined by a licensed property inspector to ensure everything in the contract is accurate. Inspection time frames will be laid out in the Purchase Agreement. Some buyers will choose to have separate inspectors look at different areas of the property (i.e. roof, plumbing, or HVAC inspectors).

If the buyer is receiving a loan, a licensed appraiser will most likely examine your property as well. Since the agreement is contingent upon financing, the lending institute will require confirmation that their investment in your home is accurate. Therefore, they will require a third-party appraiser to determine the value of your property.

The Closing Agent

Either a title company or an attorney will be chosen as the closing agent, or escrow, whose job is to examine and insure clear title to real estate. After reviewing the recorded history of your property, they will certify that your title is clear of encumbrances (i.e.. leases, mortgages, or restrictions) by the date of closing to allow the transfer of title to the buyer.