under contract process

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contract process

WHAT SETS US APART

OFFER ACCEPTED

Now that you’ve decided on an offer, it’s time to start the under contract process. There are a few dates and deadlines to be aware of — title deadline, due diligence, inspection, appraisal, and loan conditions. The under contract process can normally take anywhere from 30–60 days.

INSPECTION

One of the most crucial steps in buying a home is performing an inspection. The buyers elect to do this if they choose. The buyer’s agent will set up a day and time that works for you to have the inspector perform a full inspection on your home. You will be asked to leave during this time. It should take anywhere from 1–4 hours depending on the size of your home.

After inspection, the buyer’s agent will send an inspection objection requesting specific repairs or replacements, if needed. At this time you can decide which items you agree to fix, repair or replace, if any. Remember, inspection items that affect health and safety are pertinent.

APPRAISAL

An appraisal will be required by the lender if the buyer is obtaining a loan. The appraisal could come in low, high, or at value. I will guide you through the process on the right moves to make if the appraisal comes in low.

After the appraisal, we wait for the loan conditions deadline for the buyer and are that much closer to the closing table.