It gives the seller comfort in taking their home off the market for you while you apply and get a final mortgage approval. Writing the Offer I cannot cover all of the details that are included in writing an offer in this packet but let me provide you with a basic understanding of what writing an offer means. Both of these disclosures are attached to any offer you write. The Sellers Disclosure Statement is a document that the seller completes listing in detail whether or not there are any defects to the property that they are aware of. The Contract To Purchase and all of the addendum's and disclosure statements are documents that we will review in detail, paragraph by paragraph, before you sign anything.
Some municipalities have their own local inspection for residential homes.
It is the seller's responsibility to order and pay for the cost of the actual inspection but any items that are cited for repair can in most cases be negotiated between the buyer and the seller. I will advise you of which areas require a city inspection. If you are looking for a property in an area that has an inspection, any repairs that are cited will in most cases have to be done prior to closing unless you agree to assume some of the minor repairs. If you are applying for an FHA or VA mortgage, the bank appraiser will also complete the required FHA or VA inspection form. In most cases, any repairs sited will have to be completed prior to closing.