BUY PROPERTY STEP 7 - FIND A VENDOR |
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After your offer has been accepted, I will supervise the coordination of all necessary vendors and serve as your advocate when working with each vendor. I 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. One key example of this is the property examination. Working with your lender, you may need to have a formal appraisal and a survey done on the property for 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 document. Property owner insurance is another 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 property. Unless you have insurance coverage on the property, the closing can not proceed. Having these procedures done in a timely and professional manner is a must. Investigate each vendor to make sure they are reputable and have a clean operational history. My experience can help making this process smooth. |
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