The Insider's Guide To Selling Your Home By Owner- Rocio Fausto I | Page 97

7. Title Work: Normally the Seller is providing title
insurance for the Buyer. If you have not done so already, your
agent will bring or fax copies of the contract to the title agent or
attorney that you and your listing agent had previously discussed
using.
If this was a cash sale, the title work is usually ordered just
after the contract is negotiated. If this sale is contingent on
financing, then typically the title work will be held up pending,
credit report, inspections, and appraisal steps being satisfied.
Normally your agent will keep in touch with the Title
Company or attorney and advise them of the buyer's loan
progress.
*The title agent or attorney also handles all the
arrangements with your mortgage holder(s) regarding the final
payoffs. You need not do anything.
8. Survey: After the loan is approved, or earlier at the
discretion of the loan officer, the survey is ordered by the buyer,
their agent or lender. This usually does not occur until the last 10
days of the process.
Many times it takes place on the morning of the closing. It
is not necessary for you to be home for the survey, they do not
need to come into your home. The only evidence of the survey
having been done is the classic wood stakes with red or orange
ribbon at the corners of your property.
9. Pest inspection: The "Termite" inspection is actually an
inspection of all wood destroying organisms, including but not
limited to, dry wood and subterranean termites, wood boring
beetles, carpenter ants, and wood rot caused by "wet rot" or by
f ungi.
The pest inspection paperwork, called the "WDO" cannot be
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