Step 7 – Due Dilligence
Now that you have a negotiated agreement, the clock starts running for many items needed to meet the requirements of the agreement and your protection. We will assist you finding qualified responsible professionals to do most of these investigations and provide you with written reports.
Specifically, you will want to have an inspection of the property for such things as: the mechanical, plumbing, and electrical systems, the foundation, roof, walls, flooring, and windows. You will want to see a preliminary report of title on the property to determine any easements or issues of title. Your mortgage lender will require an independent appraisal of the property.
Any problems noted during the inspection are subject to additional negotiations between you and the sellers. We will help facilitate this process. If you are not comfortable with the inspection resolution with the seller, you will have the right to terminate the contract, if acted upon in a timely manner.
Step 8: Closing and Possession