Inspections and Appraisals
Most of the time, buyers will have your Brevard home inspected by an independent licensed property inspector during the time frame that was agreed upon during contract talks. Some buyers may even have several inspectors assess the home. They may want to have individual aspects of the home inspected by professionals that concentrate on that particular field, such as HVAC and roofing. If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate. A buyer of a commercial property may also have a complete environmental audit performed and/or soil test, if required by the lending institution.
The Closing Agent
Either a title company or an attorney will be selected as the closing agent, whose job is to examine and insure clear title to real estate. After researching the complete recorded history of your property, they will certify that 1) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and 2) all new encumbrances are duly included in the title.
Contingencies
A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector.
Before completing his or her purchase of your property, the buyer goes over every aspect of the property, as provided for by purchase agreements and any applicable addendums. These include:
- Obtaining financing and insurance
- Reviewing all pertinent documents, such as preliminary title reports and disclosure documents
- Inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to 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.
Depending on the outcome of these inspections, one of two things may happen:
1. Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the closing; or
2. The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price).
How you react to the buyer when a renegotiate of the contract is requested can greatly affect the sale of your Brevard home. Having a professional sales agents on your side can greatly ease your frustration and can really make or break a deal. Andy Noel has vast experience in selling homes in Brevard and will guarantee we will use every bit of our expertise to make sure your home sale is fair and in your favor, no matter what situation you may encounter with the buyer.
Selling a home in Brevard can be a difficult and frustrating process, if you don’t have the right help and guidance. Choose Andy Noel to guide you through the process of selling your home in Brevard. I have the experience and knowledge of the Brevard housing market to make your home sale painless and profitable.
If you have decided that now is the time to sell you home in Brevard, then please move on to Close of Escrow or give me a call at 321-693-0678 to get started.