Tip #1
Less than 30 day close:
If less than a 30 day calendar day close, please expedite the inspection timelines so the appraisal can be ordered as soon as possible.
Tip #2
Close date on or before:
At any time all parties agree please notate on the contract closing will be “on or before…” this will allow the closing to happen early without requesting an addendum.
Tip #3
Form 35R:
When there is a renegotiation between the buyer and seller due to the inspection and a credit is provided from the seller, please create a new form 34 specifying only the credit without reference to any property issues or repairs. The appraiser will call out on any required repairs if needed.
***Please contact me to discuss the 35R if repairs are required in response to the inspection. ***
Tip #4
CO Detectors:
To be in compliance with Washington State law, please ensure that one CO detector is plugged into the wall (for each floor) prior to the appraiser inspecting the property. If the detectors are not present at the time of the inspection, pictures of each detector will need to be provided to confirm they have been installed. Also, depending on loan type a final appraisal inspection may be required which could delay the closing time-line and incur addition cost to the buyer.
Tip #5
Personal Property:
If any personal property is left behind and noted on the contract, please make sure there is a form 34 addendum which addresses the items. The verbiage needs to be as follows… “Seller agrees to leave behind …. at no monetary value.”
Tip #6
Legal Name:
Please provide the full legal names for both buyer and seller on the purchase and sale contract. Please do not use nicknames. If the buyers plan on getting married or divorced during the closing process please let me know ASAP. This will affect the underwriting and documentation of their loan.
Tip #7
P&S Addendum’s:
Please include all addendum’s listed on page 1 of the purchase and sale contract when sending the signed around contract.
Tip #8
Escrow Closer and Title #:
Please notate any designated closer for escrow and the title order number on the P&S.