These are the questions that should be mostly worked out between the Buyer and Seller before making an appointment with us.
- Purchase price
- Close of escrow date or number of days
- Initial Deposit Amount (aka Earnest Money)
- Preference of a Title Co (we will recommend one if needed)
- Loan Amount/Downpayment Amount. Is the loan pre-approved?
- Inspection Contingency (Yes or No. If Yes, number of days)
- Loan/Appraisal Contingency (Yes or No. If Yes, number of days)
- What, if any, personal property is included in the sale (refrigerator, stove, washer and dryer)
- Allocation of Closing Costs- “usual and customary” or something else?
- escrow fee
- title insurance
- City transfer tax
- County transfer tax
- Natural Hazards Report
- If a condo, is there HOA transfer fee and document prep fee?
- Responsibility for Compliance with State Law Requirements (installation of smoke and CO detectors, proper strapping of the water heater)
- Responsibility for Compliance with Local Ordinances (energy and water conservation, private sewer lateral)
- Dispute Resolution: Binding Arbitration) Yes or No.
- Special Terms ? (i.e. seller rent-back after closing, contingent upon sale of another property, ownership held in a Trust, etc)