if you are an inspector yourself, you should hire a professional
home inspector to look at the house you’d like
to buy. Plan on being with the inspector during the inspection
process. That way, you can ask questions and get immediate
answers. Plus, you can review the inspector’s report
and ask the inspector in person any additional questions
you may have.
Once you found a home to purchase, let your agent know you want
to make an offer. Your agent will contact the seller’s
listing agent and relate back to you items such as terms regarding
the sale, multiple offers, date for possession, etc. From there,
you and your agent, based on the asking price and surrounding
market, determine a price you want to consider for the home.
Your offer will be presented in writing and will be accompanied
by a check for earnest money to show "good faith."
Your agent will walk through every detail of the contract with
you and explain each of the terms and conditions. The offer will
include items such as the amount you would like to pay; the inspection;
the appraisal deadline; the loan approval date; the closing and
occupancy dates, and any contingencies, such as the sale of your
seller may not accept your first proposal. Don’t
worry. Negotiations between the professionals will continue
if you still desire the home and the seller still wants
to sell. Negotiations should result in both parties agreeing
on the terms of the transaction.
Once you and seller have agreed on the terms, the mortgage process
gets underway. Title insurance is ordered, inspections completed
and the sales contract finalized. The contract is then reviewed
by you and the seller, and signed by both parties.
Just before closing (either the day of or before), you and your
agent (who will have already confirmed an appointment with the
seller) will take a final “walk-through” or inspection
of the home. This is your time to make sure agreed upon features,
amenities and other extras are there, and that repairs, if any,
were made. That is, ensure that contingencies, if any, were upheld.