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Escrow inspections & appraisals

Escrow inspections & appraisals Understanding the Escrow Process

Escrow is a neutral third-party service that ensures all financial and legal conditions of the home purchase are met before closing.

  • The buyer submits an earnest money deposit.
  • The title company holds funds and documents until all conditions are satisfied.
  • Both parties work to complete inspections, appraisals, and loan approval.
The Importance of Home Inspections

A home inspection identifies potential issues with the property before finalizing the purchase.

  • Structural integrity, roof condition, electrical, and plumbing systems are evaluated.
  • Buyers may negotiate repairs or request seller concessions.
  • Specialized inspections (termite, mold, sewer, septic) may be recommended.
Home Appraisals and Loan Approval
  • Lenders require an appraisal to verify the home’s market value.
  • If the appraisal is lower than the purchase price, renegotiation may be necessary.
  • Once the appraisal and final loan approval are complete, the transaction moves to closing.

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