Inspections & Appraisals

The Buyer's Property Inspection

Most buyers will have the property examined by a licensed property inspector to ensure everything in the contract is accurate. Inspection time frames will be laid out in the Purchase Agreement. Some buyers will choose to have separate inspectors look at different areas of the property (ie. roof, plumbing, or HVAC inspectors).

If the buyer is receiving a loan, a licensed appraiser will most likely examine your property as well. Since the agreement is contingent upon financing, the lending institute will require confirmation that their investment in your home is accurate. Therefore, they will require a third party appraiser to determine the value of your property.

The Closing Agent

Either a title company or an attorney will be chosen as the closing agent, or escrow, whose job is to examine and insure clear title to real estate. After reviewing the recorded history of your property, they will certify that your title is clear of encumbrances (ie. leases, mortgages, or restrictions) by the date of closing to allow the transfer of title to the buyer.

What Else You Should Know

Contingencies

A contingency is a condition that must be met before a contract becomes legally binding. For instance, buyers will typically include contingencies upon home inspections or securing their financing.

Before completing his or her purchase of your property, the buyer will complete the necessary steps. These include:

• Securing financing and insurance;
• Reviewing all pertinent documents, such as preliminary title reports and disclosure documents; and
• Inspecting the property. The buyer has the right to pursue details on the condition of your property through a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead based paint, HVAC, etc.

How Do You Respond Objectively and Fairly to the Buyer?

When a renegotiation is demanded, you need to act in your best interests while staying fair. This is where a licensed listing agent makes a real difference. SunnySide Properties's team has guided sellers through inspection requests across Greater Orlando, and we stay fully committed to protecting your outcome.

Loan Approval and Appraisal

We suggest that you accept buyers who have a lender’s pre-approval, approval letter, or written loan commitment, which is a better guarantee of loan approval than a pre-qualification or no documentation from a lending institute. Expect an appraiser from the lender’s company to review your property and verify that the sales price is appropriate.

Ready to sell with our licensed team? Call 321.999.7231 or complete the form and one of our agents will be in touch.