Escrow inspections & appraisals
Escrow inspections & appraisals
Escrow, Inspections, and Appraisals
Once an offer is accepted, the process moves into escrow. This stage brings together inspections, appraisals, and final verifications that ensure a smooth and transparent transaction for both parties.
Inspections
Most buyers will arrange one or more inspections within the time frame agreed upon in the purchase contract. These inspections help confirm the property’s condition and may include specialized reviews such as structure, roofing, electrical, or HVAC.
As the seller, it’s important to ensure your property is well maintained and accessible for inspectors. I will coordinate the scheduling and communication on your behalf to keep the process organized and efficient.
Contingencies
A contingency is a condition that must be met before a contract becomes legally binding. Common contingencies include inspection results, financing, or appraisal outcomes.
If an inspection identifies issues, buyers may request a price adjustment or specific repairs. My role is to help you respond strategically, maintaining fairness while protecting your best interests.
The Closing Agent
A title company or attorney will act as the closing agent. Their role is to verify that the title is clear of any liens or restrictions and to manage all escrow funds until closing. They will prepare final documentation, confirm ownership details, and ensure every legal step is handled correctly.
Appraisals and Financing
When financing is involved, the buyer’s lender will order an appraisal to confirm the property’s market value. This ensures that the purchase price aligns with the bank’s lending requirements.
I recommend prioritizing offers from buyers with verified loan approval or pre-approval documentation, as this minimizes delays and reduces risk.
Guidance Throughout Escrow
This stage can involve many moving parts, but you won’t be navigating it alone. I will stay in close contact with all parties involved to ensure every condition is met on time and that the process remains on track through closing.