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FIND THE VENDORS YOU NEED
After your offer has
been accepted, your agent will supervise the
coordination of all necessary vendors and
serving as your advocate when working with each
vendor. Your agent will make sure
that the vendors have access to the property at
the appropriate times to perform their
procedures and oversee the execution of those
procedures on your behalf.
For instance, the property will need a thorough
examination. Working with your lender, you may
need to have a formal appraisal and a survey
done for the property designated in the
contract. A property inspection, a foundation
inspection, and an environmental inspection may
also need to be completed to make sure that the
property is up to the standards set forth in
your written agreement. If there are issues or
inconsistencies brought to light during this
time, it may delay or even nullify the contract
depending on the contingencies set forth in the
contract.
Homeowner insurance is
another very important item that will need to be
taken care of at this point.
Insurance experts recommend that you obtain
insurance equal to the full replacement value of
the home. Unless you have insurance coverage on
the home, the closing can not proceed. Having
these procedures done in a timely and
professional manner is a must. Investigate each
vendor to make sure that they are reputable and
have a clean operational history.
Your agent's experience in this area will be
invaluable in making sure that everything is
completed on time and in a professional and
legal manner.
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