Lake Forest Homes

Escrow Proceedings 

Monitoring Escrow

Inspections & results of inspections

Renegotiating when necessary

Final walk through

Close of escrow

Inspections & results of inspections

Generally there our two inspections done when it comes to residential property. 

One is a home inspection. Which can be done by the buyer, but is usually done by a professional home inspector that the buyer hires. As a result of a home inspection, some things may be discovered that the buyer wants fixed. These things the buyer wants fixed need to be submitted in writing. The repairs that will be done are subject to negotiation.

The second inspection is a termite inspection. If the property is going to be financed by a lender, this is usually  required. In a termite report there are two sections. Anything that is discovered and categorized under "section one" of the report, the seller is usually responsible for fixing. Anything discovered and categorized under "section two" in the report, usually the  Buyer has a choice to fix it at their own expense. 

However, section one and two of a termite report are negotiable.

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Written By Shan Roberts