Now is the time to do your due diligence – perform home and pest inspections, receive estimates for renovations, arrange insurance, and most importantly, get your financing in order so you are ready to close and take ownership of the property.
- Receive Contract Confirmation
Shortly after your contract is bound, you will receive an email from us containing all the details of your offer and important dates and actions.
- Follow EMD Instructions
This usually is sent via wire to either the title company or the Keller Williams office. We cannot provide wire instructions, but there are instructions in the email providing a phone number for the EMD holder so you can call and get wire instructions directly.
- Confirm and/or Coordinate Inspections
When you filled out your offer form you may have selected a home inspector. If you selected Chattanooga Home Inspectors (CHI) then we can automatically schedule them for you. If you have chosen another home inspector you will need to coordinate with them to schedule the inspection prior to your inspection contingency period end date.
Inspections and add-ons:
- Most investors do not purchase the radon tests for investment properties.
- If you plan on living in the house, radon remediation is not very expensive and you can do the take-home test yourself for much less than what the home inspectors charge.
- Sewer scope is most often only needed in older homes on lots with a lot of trees between house and main sewer line.
- Chattanooga Home Inspector
- Tri-State Property Inspections
- WDI / Termite Inspectors
- Vic Manning – 706-459-9739
- Complete Financing
Whether you are financing or buying with cash, now is the time to make sure your funding is lined up, this means making sure you have the cash to close ready as cash in your bank.
- Arrange Insurance
All of our recommended insurance agents are able to quote from multiple insurance carriers so you get the best rate. They also both provide builders risk products that are perfect for renovation, fix & flip, BRRR type projects.
In some cases if a property is in a flood zone it may be necessary to get a flood elevation certificate.
- Turn On Utilities
You will want to ensure utilities are transferred to your name starting the day of closing. Some property managers have utilities in their account- if you are using a property manager, check with them about utilities.
You can find all the local utility providers from on page: https://chattanooga.gov/new-residents
This step for most of our clients involves coordinating with the title company to receive mail-away closing documents and meet with a notary to complete your purchase. If you are working with a property manager we can coordinate with them to get them keys to your property.
Furnishing of any names of Service Providers by the Broker or Broker’s Affiliated Licensee is done as a ministerial act and only as a courtesy, and does not in any way constitute any warranty or representation as to the quality of the Service Providers, their services, or subsequent reports. Clients/Customers acknowledge that they have the option to select any Service Provider of their choice, including any not listed above and that Broker or Broker’s Affiliated Licensee is not responsible for any representation, guarantees, or warranties of the selected Service Providers or their services. For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Clients/Customers herewith releases the Broker, the Broker’s Affiliated Licensee, and/or their employees from any liability of claim arising out of or in connection with the services of the Service Provider.