keep up with all the details that are swirling around you at this point and keep everything on schedule.
l. The Loan Application:
If this is a cash sale, then skip to #3; otherwise, the buyer will initiate the loan application, usually within three to five days after the contract is fully negotiated and signed.
2. Credit Report:
Although a simple “online” credit report may have been performed already on the buyer, the lender will order a special “home mortgage credit report,” which derives data from several sources.
3. Inspections:
If the buyer used inspection/investigation contingency, which usually is up to 17 days investigation period, appointments will be made either with you or your agent to perform inspections. The inspection process usually takes two to three hours, and the buyer most likely will be present. The home inspector will bring a bag of many gadgets and will inspect everything from the roof to the crawl space.
4. Inspection Results:
The inspection report is usually delivered to the buyer within a day or two after the inspection. The buyer will examine the report and will either
(1) Accept the premises “as is” and proceed with the sale,
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