Inspections & Appraisals

The Process

Initial Agreement and Deposit

A purchase agreement is a legal contract between buyer and seller. Keep written records of all communications, counter-offers, and addenda. Stay on schedule—the contract will include deadlines for inspections, financing, and other contingencies.

The Closing Agent

A title company or attorney will act as escrow and hold funds until closing. They verify the title is clear and ensure all agreed contingencies are satisfied before ownership transfers.

How to Hold Title

Different ownership structures affect transfer, financing, and taxes. Consult an attorney or tax advisor to choose the best method for your situation. We can connect you with trusted local professionals.

Inspections

Schedule a licensed property inspector within the contract timeframe. Inspections identify issues—roofing, plumbing, electrical, and other systems—and may lead to renegotiation if significant problems are found. For commercial purchases, environmental or soil tests may be required.

Appraisals and Lending

Stay in close contact with your lender to provide documents promptly. If financing is required, the lender will order a third-party appraisal to confirm the property value. Confirm loan approval status about two weeks before closing.

Association Approval

If the property is in an association, request rules and required documents from the seller. The purchase agreement should specify timeframes for association approval and documentation to be recorded with the deed at closing.

Property Insurance

Most lenders require insurance. Homeowners insurance covers dwelling loss from fire, theft, and some weather events; landlords insurance is required for rental properties. Choose the policy that matches your intended use.