What do you do about your deadlines in an Agreement of Sale?

It is best to address all of them immediately.

Most people will need to do the following:

• Make a mortgage application
• Make sure the property is insurable
• Schedule inspections
• Make a second deposit
• Perhaps, review leases or condominium documents
  

None of these items are based on one another. All of their contingency periods run simultaneously. Thus, a second deposit is not based on the result of the home inspection, etc.. Generally, it is due earlier. Thus, make sure your Realtor gives you a list of deadlines and begin making the phone calls as soon as you have the contract in your hand. You want to make sure you meet all deadlines and protect your deposit and not accidentally default.

Home Inspectors

How do you pick a Home Inspector?

It, typically, is not something you are doing regularly. So, you will not have your favorite home inspector like you may have your favorite electrician or handy man. Thus, what should you look for in a home inspector? And how should you find one?

1. Ask your Realtor for a reference or several, look on the web, look in the phone book
   
2. Call and ask them a few questions:

• Will they give estimates on critical items?
• Will they go up on the roof?
• Will they take pictures?
  
• How long will it take to get the report back?

I would expect that they will give you estimates on critical items. If you don't have estimates, then you must meet and arrange with each contractor to meet you at the property to give estimates. And these meetings must happen before your contingency period lapses if you intend on re-negotiating the price based on those inspections, or rescinding the contract.

I would also expect that the home inspector goes up on the roof and takes pictures so that you the home buyer can see the condition of the roof without climbing the ladder yourself! Again, although, in general, it is easier to get the roofer on the roof than other contractors to come out, who must go into the property, it is best if your home inspector does it at the time of the home inspection. You can always follow up with a roofer.

Pictures... they are nice to have, but best for the roof ,and next for critical items. I would insist on the roof, and would like the critical items, but would not turn away a good home inspector if he/she only gave me roof pictures.

Some provide the report right on the spot. That is a really nice service, however, if they will email within 24 hours, it is also good. It still should give you enough time to review the report and respond to the sellers.

When your offer is accepted, and you have an inspection contingency, please schedule it immediately.