Completing the Purchase is Not a Formality

Completing the purchase is far from a formality. Just because the seller accepts the offer it doesn’t mean my work for you stops. On the contrary. There are a myriad of other things I’ll do to ensure the process goes smoothly. It is not uncommon for us to have to satisfy more than 20 professionals before I can say “You’ve got the home!”

Completing the Purchase by Activating the Closing Teams

As soon as we confirm acceptance of the contract we pass it to the two law teams. We notify the mortgage company who appoints an appraiser and the underwriter. We schedule building inspectors possibly for the property, the septic system, the water supply and the naturel gas supply. I accompany each engineer when they do their inspection. I interpret their reports to the buyer and we decide whether to proceed, ask for compensation or terminate the transaction. Either way we need to sign a notice of fulfilment (NOF) or an amendment with a NOF to send to the lawyers and the brokers

Averting a Mortgage Gap

Often there is a mortgage condition which involves at least the mortgage broker, a lender, and an appraiser. I meet the appraiser and provide a list of what I consider appropriate comparables. Sometimes they use them to avert an appraisal gap As the Buyers representative any questions tend to funnel to me. When I receive approval I must arrange for all parties to sign a NOF and pass it to the lawyers and brokers.

Property Inspections

Property inspectors serve several functions. Primarily they give you assurance that the property you are purchasing is in good order. Revealing a defect may, and often does, provide a reason for reducing the purchase price. Secondly, The inspectors will give valuable advice about daily maintenance of the home, suggesting improvements and preventative maintenance. They also check on product recalls. Usually buyers agree that the inspectors save them considerably more than they cost. They also bring peace of mind.

As you can now appreciate, getting a transaction to acceptance is only the beginning. Nursing the transaction to closing is critical.

Don’t worry about finding a good real estate lawyer, insurance agent, moving company, etc. I’m well-connected in the local real estate scene and can personally recommend at least 3 reputable professionals or companies to help you.

If at any time leading up to moving day you have a question, problem or concern, I’ll be there to help. You can count on me to be your real estate agent before, during and after you cross the threshold into your beautiful new home.

If you have questions about the home buying process, please feel free to call or email.