Performing Due Diligence
Congratulations, only 2 more steps and you’ll be a homeowner! After ratifying on an offer, there is a time period allotted for you to further investigate your purchase.
It’s common in Virginia for buyers to have a home inspection. This is our due diligence period and were a thorough home inspection is required. Unfortunately, not all home inspectors are created equal. I only partner with inspectors that are licensed & insured and who provide you with a thorough inspection of your new home.
Here is a sample list of items our inspectors investigate:
- Plumbing
- Electrical
- Fireplace
- Appliances
- Foundation
- Windows
- Doors
- HVAC
- Radon
- Roof
Inspections vary based on the size of the home but typically last between 2 and 4 hours. My commitment to you is being there during this important inspection. I recommend all buyers being there as well. It’s a great opportunity to meet the inspector and ask questions about things they find. Sometimes there are other inspections such as well, septic, or pest inspections that also need to be completed. I will connect you with professionals that will assist us as needed.
Lender & Title Due Diligence
Around the same time we are getting our inspections done the lender and title company will also be doing their own due diligence. They do this in the form of an appraisal. Their job is to make sure the home’s value meets or exceeds what you agreed to pay. The title company also makes sure there are no liens on the property and get all your closing documents ready for the day of closing. Remember the lender and the title company are also part of your purchasing team. Once we get past the inspections, the appraisal, and title check, the last step is to do our final walk-through and go to closing!
