It's time to get acquainted with your new home... This is the time where you get to see the ins and outs of what's going on with the home.

Escrow. Escrow is what happens as soon as your offer is accepted and your earnest money deposit turned in. Escrow ends when you complete the home buying process... that is when you are the OFFICIAL homeowner as registered with county records.

Title Company And Escrow Holder. We can assist you in selecting a title company and escrow holder, which can be the same company. Depending on where you live, whether the seller or the buyer selects the title company will vary. The escrow holder is a neutral, third party which holds deposits. The title company (which, again, can be the escrow holder), is responsible for all of the documents necessary for sale, including all funds, issuance of clear title by closing date, and to ensure that new encumbrances are properly added to the title.

Holding Title. One thing that many homeowners don't understand is that the mortgage, the note and the deed are three separate instruments. Title is the actual ownership of the property. It's important to carefully consider how the property will be owned. Will you own it by yourself, with a spouse or family member, or with someone else. Depending on the intended use of the property, you may wish to consider one of the many ways to hold title. Each individual option has legal, estate and tax implications which should be discussed with your attorney and/or tax advisor.

Inspections. Unless you are professional inspector or contractor, we recommend that you have a professional inspection to evaluate the home's major systems (roof, electric, foundation, plumbing, heating and cooling). We can assist you with references and/or setting the appointments for you. You'll want to attend any and all of the inspections with your real estate agent (or assistant) and inspector. Ask questions and participate in the inspection. Understand, however, that minor cosmetic items are to be expected in a resale home.

During professional inspections, you can get a good idea as to any deferred maintenance and/or items that may need to be repaired or replaced in the next few months or years. This is important when making the final decision on your home. The inspection period is only the first hurdle in the process. Once the inspection is complete and signed off on, you've come a good way towards buying your home.

**Always make sure to have a pest inspection. In Florida, termites are very common and should not cause concern provided the structure is intact. Negotiate with the seller to treat for termites PRIOR to closing.

Appraisal And The Financing Process. More deals fall apart at the closing table (or within a few days of the close) than at any other time in the transaction. You'll want to stay in close communication with your lender and provide any necessary documents immediately. These items will be critical to the final approval and funding of your loan. You'll also want to stay on top of the appraisal and understand that you will likely have to pay a fee of anywhere from $350 upwards of $500+ depending on the age, square footage and size of the home. This ensures that you are not paying too much for the home and, in turn, the lender is not over lending on the home. Always ask for a copy of your appraisal.

Nearing The Finish Line. As the closing date nears, realize that you are going to need to be available for odds and ends and will have to meet last minute deadlines. Stay in constant communication with your lender and make sure that you've got your insurance lined up and ready to go in advance (Also, if you're in Florida, you'll want to keep Hurricanes in mind with regard to insurance. If you're in the middle of hurricane season, consider binding your insurance a few days early to ensure a timely closing)