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Once the negotiations are over and you and the Seller have come to an
agreement, it's time to take care of the contingencies in the contract
that allow you to cancel if they are not satisfied. Examples of a few
typical contract contingencies are; home inspection, radon or water test,
identification of property boundaries, review of covenants or easements,
septic inspection, mortgage appraisal and financing approval. If you wish,
you can also include a clause that allows your attorney to review the
entire contract. There are two benefits; 1) objective third party review
from the legal perspective, and 2) an opportunity to modify the offer
per your attorney's suggestion.
Making sure all the contingencies are satisfied and coordinating, scheduling,
attending, and follow-up of all inspections is part of my job…you
are not left to take care of all these details on you own! In addition,
we will make sure all contracts, addenda, notices and paperwork are properly
signed and/or initialed, and that all appropriate parties receive copies.
The paperwork and follow-up requirements for a real estate transaction
can be complex and daunting…your agent needs to be "on task"
for these very important details throughout the transaction.
Next>> Closing
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