Inspections & Appraisals

The process

Initial agreement and deposit

A signed purchase agreement creates a legal arrangement between buyer and seller. Keep written records of all agreements, counter-offers, and addenda. We assist with drafting and distributing copies and help keep the transaction on schedule.

The closing agent

A title company or attorney typically acts as escrow (closing) agent, holding deposits and managing funds until closing. They research the title to ensure it’s clear of encumbrances and handle the final recording once contingencies are satisfied.

How to hold title

There are multiple ways to hold titles, each with different implications for transfer, financing, and taxation. Consult an attorney or tax advisor to choose the best method. We can introduce trusted professionals to advise you.

Inspections

Schedule a licensed property inspector within the agreed timeframe. Inspectors evaluate overall condition and may recommend specialty inspections (roof, plumbing, HVAC). For commercial purchases, environmental or soil tests may be required. If inspections reveal issues not addressed in the purchase agreement, you may renegotiate terms. Once satisfied, contingencies can be removed.

Appraisals and lending

Stay in close contact with your lender for any requested documents. If financing is required, a licensed appraiser will confirm the property’s value. Appraisals consider building costs, square footage, income potential, and comparable sales. Confirm loan approval two weeks before closing.

Association approval

Some purchases require an association approval letter. Request necessary rules and documents early and meet agreed timelines. The closing agent will record the approval with the deed at closing.

Property insurance

Most lenders require insurance. If you’ll live in the home, obtain homeowners insurance; if you plan to rent the property, secure landlord insurance. Policies typically cover fire, theft, and certain weather events.