Austin Houses for Sale

Austin Westlake

24/7 Sales: 512.328.3939
Blog
Watch List
Austin Home Directory
         
Login   Connect


Questions? We Have Answers!


512.328.3939

Austin Home Towers






Inspections and Appraisals
Most buyers will have the property inspected by a licensed property inspector within the time frame agreed upon in the effective contract to purchase. Some buyers will have several different inspectors inspect the property. Buyers may also obtain professional opinions from inspectors who specialize in a specific area, such as roof, HVAC and structure. If the agreement is conditional upon financing, the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate. A buyer of a commercial property may also have a complete environmental audit performed and/or soil test, if required by the lending institution.

The Closing Agent Either a title company or an attorney will be selected as the closing agent, whose job is to examine and ensure clear title to real estate. After researching the complete recorded history of your property, they will certify that 1.) your title is free and clear of encumbrances (e.g. mortgages, leases, restrictions or liens) by the date of closing; and 2.) all new encumbrances are duly included in the title.

Contingencies A contingency is a condition that must be met before a contract becomes legally binding. For instance, a buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector. Before completing his or her purchase of your property, the buyer goes over every aspect of the property, as provided for by purchase agreements and any applicable addendums. These include:

Obtaining financing and insurance Reviewing all pertinent documents, such as preliminary title reports, disclosure documents and inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead based paint, HVAC, etc.

Depending on the outcome of these inspections, one of two things may happen:

    1. Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the closing; or
    2. The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price).


How do you respond objectively and fairly to the buyer when a renegotiation is demanded, while acting in your own best interests? This is when a professional listing agent can make a real difference in the outcome of the transaction. Having dealt with various property sales in the past, we guarantee our expertise and total commitment to every customer, no matter what their situation is.

Loan Approval and Appraisal We suggest that you accept buyers who have a lenders pre-approval, approval letter or written loan commitment. These are a better guarantee of loan approval than a pre-qualification or no documentation from a lending institute. Expect an appraiser from the lenders company to review your property and verify that the sales price is appropriate.





Contact

Michele Turnquist
Send Me A Message



Contact Photo

Michele Turnquist 512.328.3939 Lic# 302407   The data included herein on the History, Neighborhood & Recently Sold tabs is a compilation of many disparate datasets obtained from various sources. We use our best efforts to present the most accurate and up-to-date information, but we are not responsible for the results of any defects that may be found to exist, or any lost profits or other consequential damages that may result from such defects. You should not assume that this content is error-free or that it will be suitable for the particular purpose that you have in mind when using it. The owner and operator of the website that displays this data makes no warranty or representation of any kind with respect to the completeness or accuracy of the information included herein. This website is not affiliated with the individual Austin building associations, their management, or the developer of the building and complexes. By using this site you agree explicitly to understand the aforementioned as well as the terms of use and privacy policies. The information contained on this website is for general information purposes only. Austin Association of REALTORS assumes no responsibility for errors or omissions in the contents on the Service. In no event shall the Austin Association of REALTORS be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action of contract, negligence or other tort, arising out of or in connection with the use of the Service or the contents of the Service. Austin Association of REALTORS® reserves the right to make additions, deletions, or modification to the contents on the Service at any time without prior notice. Copyright © 2020. michele-turnquist.com All Rights Reserved. Real Estate Website Design by MJA Marketing