Escrow Inspections and Appraisals

Escrow, Inspections, and Appraisal

A vast majority of buyers will be required by their lender to obtain a home inspection and appraisal because the bank will want to make sure the investment is sound. However, you can also opt to get the inspections and appraisal done prior to listing the property to give yourself a competitive edge over other sellers.

The inspections lead to two potential results:

  1. Each milestone and inspection is succesfully completed and there will be no major faults found, and you will move one step closer to closing.
  2. The buyer may request a renegotiation of the terms and price or request certain repairs be made to move forward with the closing.

It is important that you respond to requests for negotiation fairly and objectively. This is yet another area where your Hindson Exceptional Realty agent will really come in handy. We will help protect your best interests and steer the transaction in a way that will produce the best possible outcome.

Since most buyers will be obtaining a loan to purchase your Lakewood Ranch property, it is highly likely an appraisal will be required. If the property is not worth the sales price, the lender may decline the loan, which is why it is very important that you price the property correctly.

The Closing Agent

Depending on the terms of the contract, either you or the buyers will select a title company or attorney to handle the escrow, title search, and closing process. They will perform a search to make sure that you are the rightful seller of the property, verify the borders of the lot, and make sure that the title is free and clear of any liens or incumberances. If any liens are discovered, you will be resoponsible for settling them prior to or upon closing.

Contingencies

In some cases, the buyers will request that certain conditions be met by you or the home. One of the most common contingencies is the right to have the home inspected or close escrow on their current home before purchasing yours.

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More Seller Information:

Decide to Sell

Select An Agent and Price

Prepare to Sell

Accepting an Offer

Escrow Inspections and Appraisals

Close of Escrow