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What to expect after your offer is accepted

Getting Keys

Did your offer get accepted?  If so, congratulations! One of the first major items in the escrow process is the home inspection. Hopefully you took some time for yourself to have a quick celebration but with the escrow clock ticking you will need to get right down to business so that the closing is smooth and on time. Hopefully you already informed your lender of the accepted offer so they can get moving on your financing. Be sure to also contact your insurance agent to get your coverage ready.

Look for an inspector.

Your realtor will most likely have a recommendation for you on a home inspector but if they don’t ask the closing agent or your lender for a recommendation and get the home inspection scheduled.  It is imperative to get a reputable inspector so that you can uncover any potential issues with the home. Keep in mind that only 29 states actually require the inspector to be licensed as scary as that sounds. The inspection will typically be paid by you as the buyer and it is worth every penny unless of course you are a home inspector yourself.

Be present during the inspection.

If an inspector does not want you there then that is a red flag. Look for a new inspector. The seller will not typically be there and it is preferable that they are not so that the inspector gets a completely unbiased opinion of the home. While the inspector goes through the house feel free to ask questions and I am sure he will want to show you several items.

After the physical inspection is complete, the inspector will deliver a report to you over the next few days.

So what should you expect from the inspection report?

Don’t get scared – the report may be lengthy – all homes have issues especially older homes. As long as you have a good inspector all the issues will be pointed out. The items you want to pay attention to are any major red flags. Small items can easily be fixed and many times you can have the sellers fix them prior to you moving in. Major red flags include items such as foundation problems, joist issues, floor support items or roof problems. A good inspector will point these out to you to pay special attention to.

Once you have reviewed the report you have to decide if you want to fix the items after closing or amend the offer to ask the seller to fix certain items prior to closing.

Don’t get too picky on the little items but do pay attention to any medium or large issues to have the sellers fix as part of the purchase agreement or look to amend the purchase price to account for the issues that you may need to fix after you move in. If the problems are more than you can bear, then sometimes you have to simply walk away and look for the next property.  Good luck!!

Meet Johnny Iniguez with ING Mortgage Corp
Founder and principal of ING Mortgage Corp.
Johnny is no stranger to the real estate industry or entrepreneurship. Born in Ecuador, Brother of 6 siblings. Graduating from Berkely college in 1998 with a degree in business management and graduating from Bloomfield College in 2003 with a degree in finance. At Bloomfield college, Johnny was a resident advisor and a NCAA soccer player and the first sibling in the family to graduate from college with a full scholarship.

A longtime Mortgage Consultant success, Johnny has had a diverse client range from first time home buyers to the Presidents and CEOs of Fortune 500 companies working for Bank of America, Citibank and Morgan Stanley in the Private lending High-end net worth.
Broker owner of ING Mortgage Corp and licensed in the States of New Jersey and Florida. Johnny has over 20 years of experience and the knowledge to open all the right doors for you as your trusted confidant and Senior Mortgage Loan Consultant and as a Real Estate Sales agent.
Johnny has worked for the Private Wealth Management at Morgan Stanley, Citibank, Bank of America, Merrill Lynch, & many other financial institutions. With over 20 years of experience as a Senior Mortgage Loan Consultant, Johnny brings with him keen knowledge of the real estate and mortgage industry, poised to assist you with the most important decisions you will make when buying, selling and/or refinancing your home.

Whether you are buying, selling, or refinancing, Johnny’s priority when meeting a new client is to find out how he can "BEST" help you in a mortgage or real estate transaction. Johnny has mastered the unique skill of "listening" which helps him gain a precise insight of how to best assist you to meet your Real Estate and Mortgage needs and goals.
You can reach Johnny at any time for any questions or concerns at 201-736-9180
Johnny Iniguez
Broker/owner of ING mortgage corp.

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