| 7. Find The Vendors You Need
After your
offer has been accepted, your agent will supervise the coordination of all necessary
vendors and serving as your advocate when working with each vendor. Your agent
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. For instance, the property will need a thorough examination.
Working with your lender, you may need to have a formal appraisal and a survey
done for the property designated in 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 contract. Homeowner insurance is another very 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 home. Unless you have insurance
coverage on the home, the closing can not proceed. Having these procedures done
in a timely and professional manner is a must. Investigate each vendor to make
sure that they are reputable and have a clean operational history. Your
agent's experience in this area will be invaluable in making sure that everything
is completed on time and in a professional and legal manner
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