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.