Inspections & Appraisals

The Process

Initial Agreement and Deposit

A signed purchase agreement and deposit formalize intent. Keep written records of all agreements, counter-offers, and addendums. We assist with documentation and timelines to help keep the transaction on schedule.

The Closing Agent

A title company or attorney typically holds escrow, manages funds, and researches title history to ensure the property is transferred free of improper encumbrances. All contingencies in the purchase agreement must be satisfied before escrow closes.

How to Hold Title

Title ownership methods affect transfer, financing, taxation, and collateral. Consult an attorney or tax advisor to choose the best option. We can connect you with trusted legal and tax professionals.

Inspections

Schedule licensed inspectors within contract timeframes. You may engage specialists (roof, plumbing, HVAC) as needed. For commercial purchases, environmental audits or soil tests may be required. If inspections reveal issues, you can renegotiate or request repairs. Once satisfied, contingencies are removed.

Appraisals and Lending

Stay in contact with your lender for documentation requests. If financing is required, the lender will order an appraisal to confirm the property’s market value. Appraisers evaluate factors such as comparable sales, building condition, square footage, and income potential for rentals. Confirm approval timelines with your lender two weeks before closing.

Association Approval

If a homeowners or condominium association approval is needed, request rules and required documents from the seller and meet the timeline agreed in the purchase contract. The closing agent will record the approval with the deed when required.

Property Insurance

Most lenders require insurance. Choose homeowners insurance if you will occupy the property or landlord insurance for rental use. Insurance protects against fire, theft, and common weather-related damage.