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10 Steps to Buying Your Home
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After your offer has been accepted, the property will need a thorough examination.
Working with your lender, you may need to have a formal appraisal and a
survey done for the property designated in the contract. A property inspection,
a foundation inspection, and an environmental inspection may also need to
be completed to make sure that the property is up to the standards set forth
in your written agreement. If there are issues or inconsistencies brought
to light during this time, it may delay or even nullify the contract depending
on the contingencies set forth in the contract. Having these procedures
done in a timely and professional manner is a must. Investigate each vendor
to make sure that they are reputable and have a clean operational history.
Homeowner insurance
is another very important item that will need to be taken care of at this
point. Insurance experts recommend that you obtain insurance equal to
the full replacement value of the home. Unless you have insurance coverage
on the home, the closing can not proceed.
Your
agent can save you time and money by supervising the coordination
of all necessary vendors and serving as your advocate when working with
each vendor. They will make sure that the vendors have access to the property
at the appropriate times to perform their procedures and oversee the execution
of those procedures on your behalf. Your agent's experience in this area
will be invaluable in making sure that everything is completed on time
and in a professional and legal manner.
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Keller Williams® Realty Inc.
An Independent Member Broker
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