Choosing the Right
Real Estate Agent
Making the Offer
Wrapping Up the
Congratulations! Your offer was accepted. Now, escrow opens and the clock starts ticking on the timeline we’ve agreed to. Here are some of the items we’ll need to accomplish in a timely manner:
- We will submit your earnest money deposit to escrow.
- We will request certain documents from the seller. These “seller disclosures” will provide you with pertinent information about the condition of the home.
- Home inspection — While a general home inspection is limited to only areas of the home that are visible (meaning, the inspector won’t have knowledge of anything lurking behind the walls), it’s one of the most important processes of buying a home.
- Pest inspection — You may also hear this referred to as a “termite inspection.” This, too, is a visual inspection which seeks to find evidence of wood-destroying pests, such as powder post beetles, fungus and termites.
- Roof inspection – One of the five most common problems found in the whole-home inspection, the roof is a notorious trouble-maker. Since repair and replacement of a roof is quite costly, it pays to have it inspected before going through with the purchase.
- Review HOA documents – If you’re purchasing a home in a managed community, you are entitled to review all pertinent homeowner association documents, including the HOA budget, minutes from recent meetings, the Covenants, Conditions and Restrictions (basically, the rules for living in the community) and more. It’s a lot of paperwork but it’s important to read and understand all of it.
- Review the title report — The title report will reveal various liens, encroachments, easements and anything else recorded against the property. The title company compiles this report from a search of county records in order to issue title insurance.