Once you FIND THE ONE, there are so many emotions…excitement, happiness, OMG what have I done and more! You’re not alone, everyone feels these things at this point. But hang on, having a signed contract only starts the wheels turning. There are many events that need to take place during the following 30-45 days.
First you will need to schedule a home inspection. The inspector’s job is to make sure everything in the home is in safe and working condition. Inspectors will test the appliances and systems and investigate every square inch of the property including the roof, structure and crawl space. Inspectors do not make note of cosmetic repairs, only issues with the structure and systems. Common inspections in Tennessee are: whole house, radon gas, termite, chimney, pool and septic/well. Once all inspections have been completed, you will provide a proposal of repairs you deem necessary based on the inspector’s recommendations to the sellers. You and the seller will have a pre-determined number of days to resolve the repair negotiation.
You will also need to secure homeowners insurance, have the land surveyed and obtain a professional appraisal.
And last but by far not least, removing the financing contingency….the deadline for final loan approval. Time is of the essence in complying with lender requests for documentation and ordering the appraisal. You will be working hand-in-hand with your lender and title company on finalizing the details for the loan and deed transfer.
On the morning of closing, you and I will visit your soon-to-be home for one last time before closing. This will be our final walk-through to check that negotiated repairs have been made, there are no hidden issues that have been uncovered once the owners have moved out, that the home is clean and debris removed, etc.
At closing, your A-Team (realtor, title company, lender) will assemble with you for the final crescendo! You will sign a huge stack of documents…until your hand hurts! The closing takes approximately 1 hour and its over…you’ll be a homeowner…keys and all!
I know this sounds like a lot and it kinda is…but no worries, I am with you every step of the way!