The seller is responsible for payment of the inspection, removal of any infestation if required, and the repair of damage if needed. The lender's loan officer takes the buyer's application. VA, FHA, and occasionally a conventional lender, may specify requirements which must be met before loan will be made, such as repairs. Ask your listing broker about this situation. When the loan is approved, a commitment is issued to the buyer.
Many contracts require loan commitment from the lender within a specified period of time.
After the buyer receives written loan approval, selling and listing brokers will coordinate a settlement date. Your listing broker will notify you to confirm the date, place, and time and will give you a checklist of everything you need to bring to settlement. The home seller now can make definitive moving plans. If the move is to another city outside the area, The Action Team can arrange for you to receive destination area information from out affiliated broker. Eliminate items you won't be moving.