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Selling - Negotiate & Remove Contingencies

5. Negotiate & Remove Contingencies

By following this approach, you will be free to focus on the details of your move.  A professional real estate team, has a lot of work ahead of it.  Some of the items on their checklist include:

• Confirm the mortgage loan approval, which may include the following:
  • Loan Commitment
  • Credit Report
  • Appraisal
  • Verification of Employment
  • Verification of Assets
  • PMI (Private Mortgage Insurance)
  • Submission to underwriter
  • Verbal approval
  • Written approval
  • Need to amend contract
    
• Provide and track a transaction checklist of items to prepare for the closing.
  
• Coordinate the following as applicable to your transaction:
  • Legal
  • Inspections
  • Occupancy permit
  • Survey
  • Home Warranty Application
  • Special agreements
  • Amendments
  • Escrow agreements
  • Lien Waivers
  • City Letters
  • Title Policy
  • Closing/escrow statement
  • Affidavits
  • Authorization to deliver deed
    
• Provide you with a closing checklist of items to prepare for the final closing or settlement.
  

Home Inspection

Typically, we have 5 days to inspect the home and demand that items found be fixed before closing (or take a credit and fix it after you take possession).  Depending on the age of the home, a home warranty may have been negotiated, at the seller's expense, to protect you.  But how do we know the condition of the home, today.

It’s easy to make sure the home you’ve chosen is a smart buy. By having a home inspection, the home’s vital systems are checked. A home inspection allows you to purchase your home with confidence.  Your Realtor will help you set one up after you have chosen the home you like. We recommends the following minimum standards when choosing an inspector and, as with all other resource required for a smooth transaction, we will present several recommendations for you:

• FOUNDATIONS, BASEMENTS, AND STRUCTURES

  • Basement floor and walls, proper drainage and ventilation, evidence of water seepage.

• EXTERIOR SIDING, WINDOWS, DOORS

  • Exterior walls, windows, and doors; porches, decks, and balconies; garage.

• ROOF

  • Roof type and material, condition of gutters and downspouts.

• INTERIOR PLUMBING SYSTEM

  • Hot and cold water system; the waste system and sewage disposal; water pressure and flow; and hot water equipment.

• ELECTRICAL SYSTEM

  • Type of service, the number of circuits, type of protection, outlet grounding, and the load balance.

• CENTRAL HEATING SYSTEM

  • Energy source, type of cooling equipment, capacity, and distribution.

• INTERIOR WALLS, CEILINGS, FLOORS, WINDOWS AND DOORS

  • Walls, floors, ceilings, stairways, cabinets, and countertops.

• ATTIC

  • Structural, insulation, and ventilation information.

• FIREPLACE

  • Notes about the chimney, damper, and masonry.

• GARAGE

  • Doors, walls, floor, opener.

• APPLIANCES

  • Includes a wide range of built-in and other home appliances, smoke detectors, and
    television/cable hookups.

• LOT AND LANDSCAPING
  • Ground slope away from foundation, condition of walks, steps, and driveway.

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