Inspections & Appraisals

The Process

Initial Agreement and Deposit

A signed purchase agreement establishes the timeline and responsibilities for both buyer and seller. Maintain written records of all agreements, counteroffers, and addendums. We can assist with documentation and timeline management to keep the transaction on track.

The Closing Agent

A neutral closing agent (title company or attorney) will hold deposits and escrow funds, confirm the title is clear, and manage fund distribution at closing. All agreed contingencies must be satisfied before closing can occur.

How to Hold Title

Title ownership methods vary and carry legal, tax, and financing implications. Consult an attorney or tax advisor to choose the best option for your situation. We can connect you with trusted advisors.

Inspections

Schedule a licensed inspector during the contract contingency period. Inspectors report on the property condition and may recommend specialist inspections (roof, plumbing, HVAC). For commercial purchases, environmental or soil tests may be required. If inspections reveal issues, you can renegotiate terms or request repairs before removing contingencies.

Appraisals and Lending

Stay in close contact with your lender and provide documents promptly. If your purchase depends on financing, the lender will order a third-party appraisal to confirm market value. Confirm loan approval status with your lender at least two weeks before closing.

Association Approval

If the property is governed by an association, request all rules and required documents. The purchase agreement should include a timeframe for completing association approvals. The final approval letter will be recorded with the deed at closing.

Property Insurance

Most lenders require insurance. Homeowner policies cover the structure and certain losses; landlord policies are needed for rental properties. Choose coverage appropriate to your use of the property.