Once you’re moving towards closing on a home, either as a buyer or a seller, there are a few things to know. Your Realtor® will help you with all of these, but it’s good to know the timeline of how things will pan out.
There are deadlines for the contingencies listed in the offer. If they are not heeded on time, there are consequences for both the buyer and the seller. Inspection contingencies have a ten day period where the buyer and seller must agree to whatever may need to be fixed.
Once the inspection is completed, the buyer will need to look in to acquiring homeowner’s insurance. This is required by lenders.
The buyer may also be interested in purchasing an extra home warranty that will protect against unforeseen defects and repairs that may pop up in the first year after purchase.
There’s a lot involved in the purchase and sale of a home. Your Realtor® will help you with all aspects and will put your mind at ease, knowing all deadlines and paperwork will be sure to be completed on time.
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