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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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