Contract Signing, Mortgage Application & Appraisal

Contract Signing, Mortgage Application & Appraisal

Once due diligence is completed to the buyer’s satisfaction, it will be time to sign the contract and submit a mortgage application, if financing. If the agreement is contingent upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via a third party. This is done so that the lending institution can confirm their investment in your property is accurate. A buyer of a commercial property may also have a complete environmental audit performed and/or soil test, if required by the lending institution.