Inspections & Appraisals

Inspections & appraisals

The process

Initial agreement and deposit

A signed purchase agreement is a binding contract that sets timelines and contingencies. Maintain written records of all agreements, counter-offers, and addenda. Keep to the agreed schedule to avoid delays.

The closing agent

A title company or attorney acts as escrow—holding funds, coordinating document signing, and ensuring the title is clear at closing. All contingencies in the Purchase Agreement must be resolved before escrow closes.

How to hold title

Title ownership options affect transferability, financing, and taxes. Consult an attorney or tax advisor to choose the best method for your situation. We can connect you with trusted local advisors.

Inspections

Schedule a licensed inspector within the agreed timeframe. Inspections identify defects and may prompt renegotiation or repair requests. For complex properties, consider specialized inspectors (roof, plumbing, environmental). Once you accept the inspection findings and resolve contingencies, they are removed from the contract.

Appraisals and lending

Stay in communication with your lender and provide requested documents promptly. If financing is required, the lender will order an independent appraisal to verify value. Confirm loan approval two weeks before closing to avoid last-minute issues.

Association approval

If the property requires HOA or association approval, request all rules and required documents from the seller and submit within the agreed timeline. The approval letter will be recorded with the deed at closing.

Property insurance

Lenders typically require insurance—homeowners for owner-occupied homes or landlord insurance for rental properties. Policies protect against fire, theft, and specified weather damage.