Escrow, Inspections & Appraisals

Understanding the Essentials

Once you’ve accepted an offer, several important steps take place before the transaction reaches closing. Escrow, inspections, and appraisals each serve a different purpose, but all three can affect the progress of your sale. Understanding what happens during these stages can help you feel prepared for questions, requests, and deadlines that may arise along the way. Neli Spurrell will help you navigate the process, communicate with the professionals involved, and keep you informed as your transaction moves toward closing.

Escrow: Managing the Transaction

Escrow is part of the process that helps keep the transaction organized and secure. Depending on the transaction, an escrow or title company may handle funds, documents, and other items according to the terms of the contract. For sellers, this stage involves making sure required documents are provided, contractual deadlines are met, and the necessary steps are completed before closing. Neli will help coordinate with the appropriate professionals and keep you informed about what is needed from you.

Inspections: Understanding the Property’s Condition

A buyer may arrange for a professional inspection after an offer is accepted. The inspection gives the buyer an opportunity to learn more about the property’s condition and identify items that may require attention. An inspection does not automatically mean that every issue identified must be repaired by the seller. Depending on the contract and circumstances, the parties may discuss repairs, credits, or other solutions. Neli can help you understand inspection-related requests and communicate with the buyer’s agent as negotiations continue.

Appraisals: Supporting the Purchase Price

When a buyer is financing the purchase, the lender may require an appraisal to help determine the property’s market value for lending purposes. The appraisal is primarily part of the buyer’s financing process, but the result can affect the transaction if the appraised value does not support the agreed-upon purchase price. If an appraisal creates an issue, Neli can help you understand the options available under the contract and coordinate with the appropriate parties.

Your Partner Through Every Step

Inspections, appraisals, escrow, and other transaction milestones can create questions or unexpected developments. Having an experienced real estate professional helping you navigate these steps can make the process easier to understand. Neli will keep you informed, help coordinate the moving pieces, and work with the professionals involved to keep your sale progressing toward closing.

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