Take a look at the graphic below, please.
Steps one and two above are pretty logical. After all, one must have the ability to buy before getting a to the contract stage. Most seller's agents will also require proof of ability such as a mortgage pre-approval be submitted with the offer.
Each of the steps following the contract involves an expense for the buyer. The property inspection and termite inspections set the stage. If there are major problems that can't be worked around (repair, concessions, etc) there is no need to have the septic system (if there is one) done. A good septic system is not relevant if the property has major structural issues.
And assuming all the previous inspections are acceptable then the lender will charge for an appraisal. And if the property appraisal is acceptable then the final "inspection" is the survey.
Each of the above is an expense for the seller.
While the cost of each inspection noted above will vary by the property a good ballpark figure here in my area of Florida is about $1,500 dollars at minimum for all of them - likely more.
That is the reason for the process. Each step has a price but if done in the order presented above some expense can be saved if a showstopper is revealed during any step.
Ready to buy a Melbourne, Florida home? Call me at 321-693-3850 or send me an email.
Considering selling your Viera, Florida home? Request your free market analysis today.
