You did it! You’re under contract and well on your way to homeownership. This document will guide you through the next steps.
Once a contract is fully executed and all signatures have been obtained, you will have 10 days to hire an inspector to conduct your inspections. The most common inspections are: whole house, termite and radon. You can find a list of local inspectors on our concierge page. Inspections will take approximately 2 ½ -3 hours depending on the size of your home and the inspections that you are performing. This time is for you to see the house again and for your inspector to assess the condition of the property.
Once the inspections are complete, you will submit an Inspection Notice to the seller letting them know that your inspections are complete. You are notifying the seller that you:
- Accept the property in the current condition
- You wish to Cancel
- You would like to offer to renegotiate.
Should you offer to renegotiate, you will also submit a “Resolution of Unacceptable Conditions.”
This document will provide the seller with a list of repair requests or possibly monetary compensation in lieu of repairs or both, depending on the outcome of the inspections and what is unacceptable to you. It can be anything that you find to be unacceptable to you.
Once the inspection notice has been received you will have 5 days to renegotiate.
If, after 5 days, you and the seller cannot come to an agreement on a resolution, then either one of you can cancel. It is important that you come to a resolution within these 5 days or the seller may cancel and be free to sell to another party.