Inspection

Good inspectors are typically booking 3-5 days out, so it is important we schedule these as soon as possible. You have the right to inspect yourself, use your Uncle Bob, or take our recommendation and hire an experienced professional to provide a detailed written report. We recommend the following inspectors:

• Rob Renfro Coastline Home Inspections (425) 330-4140

• Pillar to Post The Jarquin Team (360) 919-6667

There are some loans that require you send a copy of your inspection invoice to your lender, so confirm with your lender if this is needed. When it’s time to schedule the inspection, we'll take care of that for you. We recommend you are present for the inspection. Secure childcare and take time off work. This part is very important.

Inspection Reports Are Only For Your Knowledge

Please don't give a copy of your home or structural inspection report(s) to the lender, appraiser, or anyone else without discussing it with us first.

What is a 35R Inspection Response?

The 35R is your written request for the items you would like to see repaired or replaced at the seller's expense before closing and has nothing to do with potential loan or appraisal requirements which could come at a later date.

35R Negotiations

After gathering bids, sellers can respond to the 35R in any of the following manners:

1) Accept all requests with no changes

2) Reject all requests

3) Accept some items, while rejecting others

4) Offer something valuable in lieu of repairs such as dollars towards the buyer's closing costs, the kitchen fridge, or the zero turn mower.

At the end of the day, buyers and sellers must come to a written agreement within our agreed upon timeframe. In the event a written agreement is not reached within the specified time frame, the contract shall terminate and the earnest money shall be returned to the buyer.

Repairs & Re-inspections

Once the 35R has been signed by all parties, sellers are responsible for having the agreed upon items completed prior to closing. Per the Agreement, you have the right to enter the property to re-inspect any items which a seller agreed to repair or replace prior to closing. This happens a few days before closing. We’ll conduct a final walk through of the property to ensure it is in the same condition as it was when we first toured it.

Appraisal

The appraiser works for the bank and is there to protect the bank’s interests. Their job is to determine if property is worth at least as much as you promised to pay. We want to hear “at value” and “as-is”. This means the appraiser believes the value of the home supports the purchase price and that no repairs are needed to satisfy the bank’s requirements. If the value comes in below the purchase price, we will need to provide a copy of the appraisal to the seller and round 2 of negotiations begins. If the value comes in above the purchase price, congrats! You have instant equity in your new home!

Financing

Do not make any large purchases, like a new car, open any new lines of credit such as a Best Buy credit card, or change jobs or employment status. Please consult with your lender before making any decisions that might affect your finances or credit score.

We are providing everything to your lender, and you should expect to hear from them within the next few days. It's imperative that you respond timely with anything they request to avoid delays in the closing process. PLEASE DO NOT send your lender a copy of any contracts, supplements, or inspection reports without discussing with us first.

Loan Pre-Approval Isn't Final Loan Commitment: Your financial institution will still need supporting documentation, your signature on loan disclosures, and your timely response in order to hit the closing date.  

Closing & Possession

Signing Closing Documents
Typically, you will "pre-sign" with the title company 1-3 days before the official closing. If the final settlement statement is not ready or numbers change after, the title company will e-mail the updated information. If you’d rather sign at your home, you can request a mobile notary for a fee (usually around $125).

Closing Day
After escrow has all the funds and documents, they will release the documents to the county recording office. The recording office has until 5pm to process those documents and provide a receipt of the recording (also called recoding numbers). It’s not until we hear confirmation of recording that the home is officially closed.

Possession of the Home
Moving into your new home occurs after closing. It is extremely rare to be granted early access. Per the Agreement, the seller has until 9pm on closing day to get the last of their things out. Don’t plan on closing day to be your moving day.

Change the Locks
You never know who has a key to your new home. We recommend hiring a locksmith or grabbing some new door knobs from the hardware store. Better safe, than sorry. If you need a good locksmith, let us know!