A Diligent Richmond VA Real Estate Agent Checks Receipts
This year has proven to be a busy one in the Richmond VA Real Estate
market. With mortgage rates still at historical lows, buyers have come out to achieve the dream of home ownership. Although inventory is low, I have had the privilege of assisting countless Richmond VA home buyers
secure the home of their choice. Searching and touring homes is certainly the exciting part of the real estate process, however once under contract the "real work" truly begins.
One of the most important steps in the home buying process is the home inspection. This is the purchaser's chance to learn about their new home, uncover any defects, and ask the seller to make corrections. As your Richmond VA Realtor
, I write an addendum on your behalf taking great care in asking that any repairs made by the seller be completed by a state licensed contractor and to have receipts provided at least 3-5 days prior to closing. Once all parties come to a meeting of the minds, the seller begins the repairs.
As the repairs are made, I ask for receipts for any work performed. Once receipts are in hand, I check to see if the contractor is in good standing with the state and that their license is up-to-date. I believe a diligent Richmond VA real estate agent checks receipts to ensure the work performed is to the agreed upon conditions. On occasion, I have discovered that the contractor's license has expired, or, worse yet, the contractor doesn't have a license at all. In a situation such as this, I immediately contact the seller's agent to rectify the issue.
Not only is it imperative to make sure a professional has completed the work on one of the largest investments you may ever make, it is just as important to make sure the contractor has been paid for their services. Why, you may ask? Because a mechanic's lien
follows the property where the work was performed, not the seller. If the contractor has not been paid for services rendered, they may place a mechanic's lien on your new home and you may be stuck footing the bill. That is why I recommend hiring a reputable Title Company who is just as diligent in checking receipts and following-up with the vendor to verify payment.
When you are considering purchasing a home, I implore you to hire a Richmond VA Real Estate Agent
who has your best interest at heart.
Ready to discuss your options? Contact me, Shannon Milligan at the RVA Home Team
with eXp Realty, today!