6. Order an Inspection
During the inspection period, we will schedule a home inspection with a reputable home inspector to thoroughly investigate the home. Once this is complete, the inspector will provide us with a list of their findings. You can take the issues as-is or request the seller to address some or all of the findings. We will be mindful and reasonable on smaller items while being cautious and vigilant of potentially significant issues.
7. Negotiate Final Offer
Issues typically arise after the home inspection and those issues tend to result in another round of negotiations for credits or repairs. Ask for a credit for the work that needs to be done. Likely the last thing the seller wants to do is repair work.
- Ask for a credit for the work that needs to be done. Likely the last thing a seller wants to do is repair work.
- Think "big picture" and don't sweat the small stuff. Tile that needs some caulking or a leaky faucet can easily be fixed. Repairs are still up for negotiation and perhaps a small credit would help with closing costs.
- Request repairs. Be reasonable when asking the seller for non-cosmetic repairs to be completed OR consider asking the seller to provide a home warranty in lieu of repairs.
8. Appraisal Ordered
Your lender will arrange for a third party appraiser to provide an independent estimate of the value of the house you are buying. The appraisal lets all parties involved know that the price is fair. The loan file then moved on to the mortgage underwriter.
If approved you will receive your final commitment letter that includes the final loan terms and percentage rates.
- Property Title Search: This ensures that the seller truly owns the property and that all existing liens, loans, or judgments are disclosed.
- Homeowner's Insurance: You'll need insurance for the new home prior to closing. This will protect against things like fire, storms, and flooding.
9. Scheduling Your Move