We always check K-2 for our buyers. It is a complete survey. K-1 is normally NA. For condos surveys are not possible. If the home is a CPR sometimes surveys are possible and sometimes they are not possible. K-3 Boundary Encroachments If a property has encroachments most of the time to buyer will continue anyway. … Read more
Paragraph J-8 shown below dictates when your stuff needs to be out, but it specifically says you can stay there until closing, although with all your stuff out of the house it is more like camping in your own home should you decide to stay until closing. Some agents will say 5 days for J-8 … Read more
Escrow is most likely to fall out during the inspection period, but that happens early on in the escrow, normally within the first 2 weeks. After the inspection is approved and you are getting close to closing the most common reason escrow is cancelled is using the financing contingency. Simply put, if the buyer can’t … Read more
A complete disclosure is the most important thing a seller can do to protect themselves from being sued in the future. The rule I go by for the disclosure is if you must think about whether an issue is important enough to disclose, then you should disclose it. The rule our attorney gives us is … Read more
Sellers should have the buyer to select the termite inspector. This is for the seller’s protection. If the seller selects the inspector and there is a mistake now it is the seller’s problem. If the buyer chooses the inspector and there is something missed it is the buyer’s issue. Normally the inspection is done 15 days … Read more
The “As Is” Conditional Addendum sounds intimidating, but if you look at it closer, it does not mean much. It does not change any of your rights during the inspection. You can still cancel, ask for credit, or ask for repairs. It does not change the seller’s responsibility to disclose everything on their disclosure statement. … Read more
We feel one of the most important things we can do for a buyer or seller is to help them close. Along these lines we do not sweat the small stuff on Purchase Contracts. I see some agents change 3 days to 5 days, 12 days to 10 days, and they keep making the tiny … Read more
If you are lucky enough to get a counter offer in a multiple offer situation, you really want to accept it unless there is something major that you can’t live with. You have to keep in mind a counter offer can be withdrawn at anytime. It might have a response required within 24 to 48 … Read more
This is the buyer’s opportunity to inspect everything about the property. We recommend using a professional home inspector. Sometimes additional inspections are needed by plumbers, electricians, roofers, etc. At any time during this period and for any reason the buyer has the right to cancel and get all their deposits back. After the inspections are … Read more