Inspection & Appraisal
Almost all buyers will opt to have your home inspected by a licensed property inspector during the time allotted to them in the accepted Purchase and Sale Agreement. Buyer will also have a pest or termite inspection done. Since I paid to have a pre-listing inspection of your home (link to marketing page), there shouldn’t be any surprises to the buyer after the home inspection.
Depending on age, condition, price of the home, and feedback from their inspector, the buyers may opt to perform inspections as well. These could include foundation, roof, sewer line, cesspool or septic tank, and/or HVAC.
A buyer of a commercial property may also perform a environmental audit and/or soil tests during the feasibility period.
If the buyer of your home is seeking ﬁnancing from a lender, then there will be an appraisal of your home. An appraisal is required so that the bank can conﬁrm that sales price is accurate and that property being used as collateral toward their loan is legitimate. Once an appraisal is done, it usually takes around 3 days to get the results.