Inspections & Appraisals

The Process

Initial Agreement and Deposit

A signed agreement creates a legal framework between buyer and seller. Keep written records of all communications, counter-offers, and addenda. We can assist with drafting and maintaining clear documentation and timelines.

The Closing Agent

A title company or attorney will serve as escrow, holding funds and managing distribution until closing. The escrow agent researches title history to ensure it’s clear of encumbrances and that new encumbrances are recorded correctly. All contingencies in the Purchase Agreement must be satisfied before closing.

How to Hold Title

Different ways to hold title affect ownership transfer, financing, and taxes. Speak with an attorney or tax advisor to determine the best option for your situation. We can connect you with trusted local advisors.

Inspections

As part of contingencies, schedule a licensed property inspector within the agreed timeline. Inspectors report on the property’s condition and may recommend specialists (roofing, plumbing, etc.). Commercial purchases may require environmental or soil testing. If inspections reveal issues, you can request renegotiation. Once satisfied, contingencies are removed.

Appraisals and Lending

Stay in close contact with your lender to provide the required documents promptly. If financing is a condition of the Purchase Agreement, the lender will order a third-party appraisal to validate the property’s value. Confirm with your lender about two weeks before closing that final loan approval is on schedule.

Association Approval

Some purchases require association approval. Request rules and required documents from the seller and meet any submission deadlines in the Purchase Agreement. The closing agent will record the approval with the deed when closing.

Property Insurance

Most lenders require insurance. Homeowners insurance protects against fire, theft, and certain weather events; landlord insurance is required for rental properties. Choose the coverage that matches your intended use.