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Contract to Close Process
We will guide you through and prompt every step in the Under Contract Process. Some of the topics you can expect to discuss are as follows:
Appraisal
This is where the lending team will hire a third party appraiser to put a value on the property. We like to have the appraisal back prior to performing an inspection in the event there is a discrepancy between the appraised value and contract price and/or if the appraiser places repair conditions on the report.
Inspections
We always recommend the standard mechanical/structural inspections. We also recommend a Wood Destroying Insect inspection, which comes standard with some inspection companies. We also always recommend a radon inspection. Radon is the number one cause of lung cancer outside of smoking, so it’s important to know if it is existing or not in the home prior to moving in.
Depending on the age of the mechanics, we may recommend an HVAC, roof, plumbing, electric, well, septic, chimney, etc. inspection in addition to the standard inspection.
Depending on what comes back in the initial inspection report, additional inspections may be needed to ensure you are making a smart investment.
In NC properties are sold AS IS, so the Seller isn’t obligated to make repairs, although it is somewhat standard practice to submit repair requests and negotiate a credit and/or repairs for the Buyer in most cases.
Property Survey
We always recommend a property survey. This will reveal any existing easments or encroachments and will mark your true property lines.
Insurance
You will need to obtain Homeowners Insurance for your soon to be new home. This is a great time to review all of your policies and create a bundle discount with one provider.
Utilities, Mail Forwarding, Moving Arrangements, Etc.
We will prompt you for all of these steps, as well as connect you to our preferred vendor network.
