The Indianapolis purchase process
How to purchase an Indy property
We can do this by phone and fax or set up a meeting. Almost every item on the Purchase Agreement is negotiable.
There are some items on the purchase agreement that are typically buyer and seller paid costs. It is imperative that you have a blank copy of the purchase agreement to peruse over.
Earnest Money:
You will need to submit earnest money as good faith. I need to collect your earnest money at the time of the offer When we have an accepted purchase agreement I will mail or drive the earnest money to the listing company and they will keep it in their escrow account. You will receive your earnest money back when you close on on the house
The earnest money will be cashed with-in 48 hours of the acceptance of the purchase agreement. The check will need to be made out to the listing company. Your check should reference the property address.
Counter Offer:
We may go through the counter offer process. The amount of counter offers depends on each individual case
You could have as little as one counter offer or as many as 9 counter offers. When making a counter offer there is always a deadline for Response time. If someone would want to accept the counter Offer they would want to respond within the time frame or the would be dead. If you are not planning in accepting a counter offer you do not have to respond by the time frame allotted
Inspections:
I have a list of three inspection companies you may choose from. We will have 15 days to order, receive, and respond to the inspections. If we do not respond by the due date the buyer accepts the home as is. If you are going FHA you will be required to have a termite inspection. I do suggest getting a Radon inspection (this is an odorless gas that rises from the earths surface seeps up into your home and may cause cancer) Radon can be found in any home whether it has a basement, crawl, or slab.
Closing
I will receive a settlement statement at least 24 hours prior to the closing date from the tile company
We will go over your figures line by line. The amount you bring to closing will need to be in the form of a cashiers check made out to the title company. You will need to have a receipt for home owners insurance, a photo ID, and the termite inspection if your financing is FHA.
We will need to make sure that the utilities are switched over in your name(s). The keys and garage door openers will be exchanged at closing if possession is at closing. If possession is not at closing sellers and buyers should exchange phone numbers and make necessary arrangements.