WHAT IS THE NEXT STEP AFTER THE CONTRACT IS SIGNED?
Normally the buyer conducts a home inspection in accordance with the terms of the contract. They are typically conducted within five days of the signing of the contract. If any issues arise from the home inspection, they should be resolved promptly. It is in the buyer?s best interest also to obtain an inspection for termites, or other wood destroying insects before or during the home inspection. The contract can be subject to a satisfactory inspection for termites. The cost of the inspection is paid by the Purchaser. It is usually the responsibility of the Seller to correct any termite infestation problems. During this time, a title report is then ordered by the buyer?s attorney with a copy provided to the seller?s attorney. At this juncture the buyer should also secure financing for the transaction. Most real estate contracts are subject to the buyer being able to obtain a mortgage commitment from a lender. If the buyer in good faith can?t obtain a mortgage commitment, usually the con
Normally the buyer conducts a home inspection in accordance with the terms of the contract. They are typically conducted within five days of the signing of the contract. If any issues arise from the home inspection, they should be resolved promptly. It is in the buyer’s best interest also to obtain an inspection for termites, or other wood destroying insects before or during the home inspection. The contract can be subject to a satisfactory inspection for termites. The cost of the inspection is paid by the Purchaser. It is usually the responsibility of the Seller to correct any termite infestation problems. During this time, a title report is then ordered by the buyer’s attorney with a copy provided to the seller’s attorney. At this juncture the buyer should also secure financing for the transaction. Most real estate contracts are subject to the buyer being able to obtain a mortgage commitment from a lender. If the buyer in good faith can’t obtain a mortgage commitment, usually the con
