Email Thinking of buying or building a home in Indianapolis? Make sure you know what to expect - whether you're a first-time buyer or a real estate aficionado. Here are the steps you need to know for buying a home.
Congratulations... These Are The Most Common Next Steps Once You Are Under Contract
Note: Unless Otherwise Stated In the Purchase Agreement, Time Periods Begin The Day After Acceptance Of The Purchase Agreement. If There Is First Right Contingency, Then Time Periods Begin Upon Removal Of The Contingency.
You Will Need To Let Mitch Know Right Away How You Want To Pay The Earnest Money. The Three Most Common Ways Are Listed Below. You May Also Be Able To Do A Wire Transfer.
Today Most Brokerages Accept Earnest Money Payments Electronically Using An App Or Online
Electronic/Digital: This is usually the easiest way to deliver the earnest money to the Escrow Holder which typically is the Listing Agent's Brokerage. These electronic payment methods typically connect directly to you bank account just like you are logging in to you account to pay bills or check the balance of an account. These Services typically have a one time charge of $20-$30. When Mitch is the escrow holder Mitch Uses the Earnnest App which changes $24.00 and the Earnest Money can be paid using www.PayEMhere.com
Every Brokerage Will Accept A Personal Check To Pay The Earnest Money
Personal Check: The check is payable to the Escrow Holder which is typically the Listing Brokerage. On the memo/note line of the check you should write Earnest Money followed by the Property's Address. The Earnest Money check needs to be delivered to the Escrow Holder. Most times there is a locked/secure mailbox that can be accessed 24/7 from outside the office of the Escrow Holder. Please text Mitch a copy of the Earnest Money check before you drop it off.
Note: If you need to transfer funds between accounts, then I would do that online ASAP since the check could be deposited remotely as early as the same or next business day.
If You Have Enough Time Before The Earnest Money Delivery Deadline, To Visit The Bank, Every Brokerage Will Also Accept A Bank Issued Check To Pay The Earnest Money,
Bank Issued Check (Certified or Cashier's): If you don't have paper checks, and you don't want to use the electronic app to pay the Earnest Money then you can also use either a Cashier's or certified Check, The check is payable to the Escrow Holder which again is typically the Listing Brokerage. On the memo/note line of the check you should write Earnest Money followed by the Property's Address. Like Paper Personal Checks, These Bank Issued Earnest Money check need to be delivered to the Escrow Holder. Most times there is a locked/secure mailbox that can be accessed 24/7 from outside the office of the Escrow Holder
Although The Least Common Way To Pay Earnest Money, Some Brokerages May Allow For A Wire Transfer
Wire Transfer: If you would like to pay the Earnest Money using a Wire Transfer, then let Mitch Know and he can find out if the Escrow Holder can receive wires. Beyond any fees charged by your bank to send the wire, some brokerages may also charge you an inbound wire fee that could range from $20-$50. Note: The other downside to sending a wire might be your bank's business hours if you cannot initiate the wire online. Lastly, some financial institutions, especially non brick and mortar operations and/or investment brokerages, can take 2-3 days to initiate and process the wire transfer which could mean the Wire is not received in a timely way.
This Can Typically Be Paid Electronically, With A Personal Or Bank Check
You will Find The Amount Of The Earnest Money, Who The Escrow Holder Is, And The Timeline For Delivery On Lines 39 to 42 Of The Purchase Agreement. NOTE: Be sure To confirm the Earnest Money Terms were not changed as part of any counter offer(s).
After You Accept A Purchase Agreement On The Contingent Property, You Must Notify The Sellers Of The New Property Using The REMOVAL OF CONTINGENCY AMENDMENT.
As the Buyer, you agree to remove this contingency when a Purchase Agreement is accepted on your Contingent Property, which is typically your current home. When the contingency is removed, due to your acceptance of a Purchase Agreement on the Contingent Property, the Purchase Agreement on the New Property is then contingent upon the closing of the Contingent Property. However, the timeline to close on the New Home, unless changed by an amendment to the PA, is as indicated in the accepted Purchase Agreement.
So, if the potential offer on the Contingent Property will not close within the timeline specified in the Purchase Agreement on the New Property, than before you can accept the offer on your Contingent Property, you must FIRST have the Seller's of the New Property, agree to modify the timeline for closing on the New Home to support the closing on your Contingent Property. Only after those changes happen can you accept the Purchase Agreement on the Contingent Property. Then once accepted, you can need to also notify the Seller's on the New Home that you have accepted an offer on your Contingent Property.
If you remove the contingency on the New Property, after accepting a Purchase Agreement on the Contingent Property, then the transaction concerning the New Property will proceed according to the terms and timelines of the Purchase Agreement on the New Home. This includes the time to close the Purchase Agreement of the New Home. With the exception of delivery of the Earnest Money, all remaining time conditions in the Purchase Agreement on the New Property, shall begin to run upon removal of the contingency. Should the transaction on the Contingent Property not close, then the Purchase Agreement on the New Property is null and void and the earnest money shall be disbursed according to a Mutual Release Agreement
This Is A Less Common Contingency
A Home Sale or “First Right” Contingency, That Seller's May Be Willing To Accept In Balanced Or Buyer’s Markets, Will Be Indicated On Lines 101 to 109 Of The Purchase Agreement And In The Corresponding Addendum to Purchase Agreement. You Can Learn More About First-Right Contingencies Here.
You'll Have 5-7 Days To Submit Your Mortgage App Or 1-2 Days To Provide POF
While the Purchase Agreement indicates the maximum number of days to make your mortgage application, Mitch encourages you to reach out to your lender ASAP to start the process.
Mitch will share a copy of the Purchase Agreement and the related docs with Mack Howell, Mitch's preferred lender or the lender that provided you the pre-approval. So, the lender will expect to hear from you typically within 1-2 Business days. Mitch encourages you to talk with Mack or your lender about locking in an interest rate sooner vs later.
The Federal Reserve's FOMC has eight scheduled meetings for 2026 to set monetary policy and to discuss economic conditions that could influence interest rates. The tentative FOMC meeting dates are January 27–28, March 17–18, April 28–29, June 16–17, July 28–29, September 15–16, October 27–28 and December 8–9. If you find yourself going under contract within 7-14 days of the next Federal Reserve meeting, then Mitch also encourages you to ask your lender about their thoughts regarding locking in ASAP, vs waiting till after the next Federal Reserve meeting, if it seems likely there could be another rate cut.
You may also want to talk with the lender about any potential to take advantage of locking in a rate ASAP, and also discussing the potential conditions, timelines and criteria that might allow you to possibly drop one time to to a lower interest rate. Of course, in the end it’s 100% your decision to lock in a rate knowing that once the rate is locked in, the rate cannot increase, or instead wait, and hope that the rates will decrease between now and the closing, realizing the rates could also increase costing you even more! NOTE: If you decide to wait to lock in an interest rate, then please talk with Mack or your lender about the latest date to lock in an interest rate so that you will have your clear to close by the date required in the Purchase Agreement.
As A Cash Buyer, If You Did Not Provide Proof Of Funds With Your Offer, Then You Also Have A Set Number Of Days To Provide Proof Of Funds After You Are Under Contract
While the Purchase Agreement indicates the maximum number of days to make your mortgage application, Mitch encourages you to reach out to your lender ASAP to start the process. To help with that, Mitch will share a copy of the Purchase Agreement and the related docs with Lender who provided your pre-approval. So, your lender will typically expect to hear from you within 1-2 Business days. Mitch encourages you to talk with your lender about locking in an interest rate sooner vs later.
You Typically Have 5-7 Days To Submit Your Mortgage Application
Line 79 Of The Purchase Agreement Shows You The Number Of Days, After Acceptance Of The Agreement, To Make Written Application For Financing. Or, If You Are A Cash Buyer, Then On Line 62 Of The Purchase Agreement Can See The Number Of Days After Acceptance Of The Agreement, To provide Proof Of Funds To The Sellers.
You Have A Set Number Of Days To Confirm You Can Obtain Insurance After You Are Under Contract
We need to notify the Seller(s) about any issues you encounter related to the insurability of the property. I would suggest you start working on this item tomorrow or within the next two business days at the latest! I typically suggest that you contact the insurance company that insures your cars, and your current place for your first quote. For a second quote I would encourage you to contact Kevin Surface who is my preferred Insurance agent! I have worked personally with Kevin for literally over 25 years, and he has also helped many of my clients.
Note: When you speak with any insurance agents, you want to also ask about any noteworthy insurance claims that they show on the property and let me know ASAP if anything shows up!!
You will want to pay for the insurance at closing! So, you will need to email Mack Howell, or your lender, the invoice for the insurance firm you decide to working with, so that the title company can pay for the first year’s insurance as part of closing.
You Typically Have 10-14 Days To Confirm That You Can Insure The New Property
Line 170-172 Of The Purchase Agreement Confirms The Number Of Days, After Acceptance Of The Agreement, To Confirm That You Can Obtain Insurance On The New Property..
Identify Any Undisclosed "Defects" With The New Property
Section 1
Home Inspection Process Overview
In anticipation of going under contract, Mitch typically reserves a slot for your new home to be inspected with his preferred inspection firm, Security Home Inspection, and his preferred inspector, Braden Roadruck. While some agents avoid working with Security because they feel their thoroughness can complicate transactions, those same agents often choose Security when purchasing a home for themselves or their family. Braden is one of the firm’s most senior inspectors and is responsible for training new inspectors. The inspection generally starts at 8:00 AM or 12:00 PM and takes 3–6 hours, depending on the size of the home. With larger homes, and / or because of his training role, Braden will often be accompanied by a second inspector. Mitch encourages buyers to attend the entire inspection whenever possible. If you cannot be present for the entire inspection, then Mitch suggests you arrive within the last 60-90 minutes. Then the inspector can bring you up to speed with any issues they have found before you arrive.
Mitch usually arrives during the final 30–60 minutes of the inspection to review any major concerns directly with Braden. This allows Braden to point out issues in person and explain what he is seeing.
If even before you submit your offer any issues of concern are noticed, identified—or suspected (such as broken thermal seals or wood rot)—Mitch may proactively schedule contractor(s) for further evaluations, ideally the next business day after the inspection. Because contractor availability can be limited, it’s often better to schedule and cancel, if necessary, rather than miss the inspection window
Inspection Response Deadline & Extensions
You typically have 10–14 days to identify and address any inspection-related defects. The Next Steps email from Mitch will indicate the timeline that is reflected in your Purchase Agreement.
If the inspection uncovers items that require additional evaluation, the response period can typically be extended by 3–5 days to allow time for further inspections or contractor evaluations.
Follow-Up Contractors & Additional Inspections
After we receive the inspection report, we will discuss whether any follow-up inspections or contractors are needed. For example, Braden may note that the furnace is dirty or shows rust that could indicate a larger issue, in which case he may recommend an HVAC contractor to clean and inspect the system.
If you already anticipate wanting an HVAC cleaning or inspection—regardless of inspection findings—please let Mitch know as soon as possible. This allows it to be scheduled later the same day or the following day and avoids overlap with Braden’s inspection. Mitch coordinates all access with the listing agent, so it’s important to keep him informed of which contractors you want scheduled, when, and why.
Special Concerns & Communication with the Inspector
If you have specific concerns or items, you want the inspector to focus on, please request to speak directly with Braden when confirming services and arranging payment. Also notify Mitch so he can ensure that conversation takes place.
After the inspection, both you and Mitch will receive the written report—typically the next morning—and you may request a follow-up call with Braden to ask questions or clarify any findings.
Understanding Inspection Findings
Braden does not determine which items qualify as “defects” for negotiation. Mitch will automatically receive a copy of the inspection report and will advise you on which items are reasonable to request the seller to address. This guidance will take into account any limitations in your purchase agreement, such as minimum repair thresholds (typically $1,000 to $1500) or an agreed-upon repair deductible (often around 1% of the purchase price).
Important Reminder
Age alone is not considered a defect if a system or appliance is functioning as intended. This applies to items such as HVAC systems, water heaters, and appliances.
Section 3
You Typically Have 10-14 Days To Identify Any Defects With The New Property
Lines 213-252 Of The Purchase Agreement Explain The Inspection Process. Specifically Line 215 Confirms The Number Of Days, After Acceptance Of The Agreement, To Perform Inspections And Request Repairs. Additionally, Line 225 Indicates The Number Of Additional Days You Can Take, If Needed, For Any Follow-up Inspections And / Or Requests.
Step 4: Map Out Your Criteria And The Selling Price of Homes in The Areas That Interest You
Now that you have your finances figured out, and are pre approved for a loan, it’s time to begin your search for the home! With a plethora of online home-buying tools at your fingertips, it’s relatively easy to map out different types of homes and neighborhoods and find what is right for you. If you have a preferred location or neighborhood, Mitch can share they typical List to sales price ratios of homes in that area to confirm whether an area is within your budget.
Make big decisions like urban versus suburban settings, an estimated property size and neighborhood requirements before you start to physically look at properties. This will save time and energy for you. Mitch can create very detailed searches that will send you email alerts when places that meet your criteria to your own personal and private website portal. There you can check out all of the details and leave questions or comments for Mitch that will help him refine our your searches to make it easier for you to find the perfect place.
Start by telling Mitch about what you would love to have in Your First Home
Step 5: Find Your Home
This is the fun part, where you get to visit open houses, tour homes, make notes, and really hone in on your perfect dream home! Make sure you keep detailed records of the homes you visit, noting things you liked, didn't like, pros and cons, etc. Taking pictures can also keep your memory fresh. When Mitch shows properties to buyers he prompts the buyers to focus on what they love and hate about a place vs what they like and dislike! Mitch also asks buyers to rank the top 3 places with the most desirable being #1 etc. The combination of what you love and hate, contrasted with which houses you rank as #1, #2 and #3 allows Mitch to gain some clarity on your priorities. For example if the only real differences between your top two places is that you loved the kitchen in house #1 and loved the backyard in house #2, it's likely the kitchen is more important to you then the back yard!
Buying a home in Indianapolis? Start searching for your dream home today, or answer questions in a survey to share what your ideal place looks like with Mitch.Step 6: Make an Offer
When you find your favorite home, work with your agent to determine a competitive but reasonable offering price. In an ideal scenario the listing agent did a comprehensive market analysis (CMA) to determine the correct list price. However sometimes the list price is more about what the sellers want for the property versus what the place is actually worth in the current market. Some list agents won't complete a CMA and instead will set the list price low hoping to receive multiple offers that will allow the place to sell for above list price! So, your Buyer's Agent should do a CMA as if they were listing the place themselves to advise you as to what the place is both worth and what it should appraise for. Setting the value is not an exact science though, so typically great agents will share the value, along with 2%+/- amounts. Typically in Seller's markets the value is on on the plus side and conversely during buyer's markets the values tend to be on the minus side of the numbers! Once you have clarity on what the property is currently worth then you'll want to choose a number that is comfortably within your price range but competitive enough that it won't cause the seller to immediately reject your offer.
If Another Buyer Puts "Your" Home Under Contract
OR... CONNECT WITH MITCH ABOUT THE CONCEPT OF BACK-UP OFFERS
Step 7: Get an Inspection
Nothing's finalized yet, so make sure you're getting your money's worth! Most states today have seller disclosure forms that require the seller to disclose any known defects and most states have wording in the law to try to define what is a defect. While no home will likely be perfect, even a home that's brand new, the goal of an inspection is to identify defects that could impact the inhabitability or safety of living in the property. While some sellers and listing agents will focus on the notion that nothing is perfect, and so it's reasonable to tolerate or accept defects uncovered as part of an inspection. Mitch's perspective though is that because Sellers are supposed to disclose defects, and Seller's could have had their own inspection done prior to listing the property, in order to disclose any defects that the seller is unwilling and/or unable to address, buyers enter the inspection process expecting to find a reasonably defect property! Note: Inspections on homes that have been previously occupied typically don't focus on cosmetic items and outside of new construction purely cosmetic items would not typically be asked for as part of an inspection! Ask your real estate agent to recommend a trusted home inspector to walk through the house and check for any potential defects or problems. If necessary, you can request that the seller repair any true defects that you find.
Step 8: Review Your Contract
Before you sign any paperwork, it's important that you carefully read over the contract with your agent or lawyer to ensure you understand what you are are agreeing to do and by what dates and that the purchase agreement includes all of the necessary contingencies. Mitch refers to contingencies as "Get Out Of Jail Free" cards! These are items where if for example you can't obtain a mortgage, the property does not appraise for the purchase price, there are items in the Homeowner Association rules and regulations that you can't live with or there are true defects discovered during the inspection, where the seller is unwilling or unable to correct the items, then in theory you should be able to walk away from the purchase with all of your earnest money coming back to you.
Step 9: Finalize Your Mortgage Approval
Work with your chosen lender to submit your mortgage application, review predicted closing costs, and have your home appraised. Common closing costs include attorney fees, title insurance, appraisal fees, home inspection fees, courier fees, government recording fees, and taxes.
Step 10: Close and Pay
It's time to close! Right before closing you'll put all of the utilities into your name effective the day of closing and you will arrange for the wire transfer of the funds needed for closing. Then the day of closing you will do a final walkthrough to see that any needed repairs have been completed and to confirm that the house is in the same or better condition from when you last saw the place. Then you will meet with your agent, lender, and the seller to finalize the paperwork, sign your contracts, and pay your down payment and closing costs. Finally - the keys to your new home!
Still Have Questions or Ready to Get Started?
If you're thinking of buying a home in Indianapolis, then it's time to contact Mitch Rolsky. We're your local real estate experts. Not only can we answer all your buying questions, we can help connect you with the resources you need to make an informed decision so you're sure to find your dream home at just the right price. Take a look at some of the home buying resources we have to offer.
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Most Agents ... Say What You Want To Hear Mitch Shares What You Need To Know!
- As you know I have already delivered the Earnest Money. I have attached a copy of that check for your files as well as a copy of the paperwork from the listing agent that shows the receipt of that payment.
- We must notify the sellers on Finchley that we have accepted an offer on Marlowe. I’ll be sending you a Docusign within the next 1-2 hours to address the removal of contingency to achieve that. Bryan, you will only need to see vs sign. Still, please let me know if you had your tech guy out so that we hopefully have Docusign working for you going forward especially as it relates to Marlowe
- While you have till Tuesday 11/25 to make your mortgage application, I would encourage you to reach out to Mack tomorrow to start the process. I will share a copy of the PA and related docs with Mack next. So, he will also expect to hear from you tomorrow. As part of that process starting tomorrow I encourage you to talk with Mack about locking in an interest rate. As part of that I would also encourage you to ask Mack his thoughts regarding locking in now vs waiting till a week or two since on 12/9 it’s possible there could be another rate cut. You may also want to talk with him about the potential to take advantage of locking in a rate and then the conditions and timelines that might allow you to also drop one time to drop to a lower rate. He can walk you through those terms and conditions around any potential rate drop. Of course, in the end it’s 100% your decision to lock in a rate and know it can’t go up or to instead wait, and hope that the rates will decrease between now and closing. If you decide to wait, then please talk with Mack about the latest date to lock in your rate to have your clear to close by 12/28 or more likely before you leave on vacation.
Again, as we discussed, If the appraisal determines a value less than the $2,050,000 sales price, then this would be a “Get out of Jail Free Card!” That means you could walk away from the sale and get your earnest money back! Conversely, if the property does not appraise then you could also try to negotiate with the seller for a lower price that’s either equal to the appraisal or somewhere between the appraisal and the purchase price. Just understand that in the same way you can walk away if a property does not appraise, the seller can also walk away! There is no guarantee that you and the seller will agree on a new sales price that’s been triggered by an appraisal that came in lower than the purchase price. And if the seller happens to be able to obtain a backup buyer for a higher sales price, then it’s not likely the seller would agree to decrease the sales price even to match the appraisal amount. Because of this, getting this appraisal back ASAP is to your advantage and this is another reason to reach out to start the process tomorrow so that Mack can order the appraisal ASAP!
- We will need to notify the Seller about any issues we encounter related to the insurability of the property by Friday 11/28. I would suggest you start working on this item tomorrow or Thursday at the latest! I would typically suggest that you contact the insurance company that insures your cars, and Marlowe for your first quote. I have also listed my insurance guy’s contact info below and I would encourage you to get a second quote from my guy or someone else! I have worked personally with Kevin for literally over 25 years, and he has also helped many of my clients.
Note: When you speak with any insurance agents, you want to also ask about any noteworthy insurance claims that they show on the property and let me know ASAP if anything shows up!!
You will want to pay for the insurance at closing! So, you will need to email Mack the invoice for the firm you are working with, so that the title company can pay for the first year’s insurance as part of closing. For a second / another quote I would strongly encourage that you call:
Kevin L. Surface –
Protect-All Insurance Agency
The Sintz Group
317-502-2105 Cell
317-353-1121 Main phone
- I typically encourage radon testing. Radon is a colorless, odorless radioactive gas that’s a byproduct of decaying uranium in the soil. It exists in nearly all soils, and very low levels of radon are found in the air we breathe every day, according to the American Cancer Society. Radon levels fluctuate from day to day. It’s possible a property will not test high for radon at one point and then test high later in the future. It’s thought that Radon can cause cancer and because of this it’s considered a defect. Frankly, while even some cancer medical professionals believe there is nothing conclusive between radon and cancer, most buyers will want radon to be mitigated by a seller before closing! All of this being said, the EPA suggests testing up to the 3rd floor in a building, although we typically test on the lowest finished living area. So, I encourage all buyers to test for radon since if the levels are high enough to be considered a defect it will negatively impact your ability to sell down the road. Because of this, it just makes sense to test for it now, and ask the Seller to address the issue, if any radon mitigation is warranted. And if they can’t mitigate the radon to acceptable levels for some reason then you will want to consider walking away from the property. The cost I believe for the test is around $200, you can/should confirm that amount with Security Home Inspection. While many would believe it’s likely a waste of dollars to test, I would suggest spending $200 to confirm that there are no radon issues, is likely to be some of the best dollars you can spend on a purchase of this amount. Presuming you order the radon test, be sure to tell them to start the radon testing before Braden comes on 4/26 so that he can pick it up when he’s there, vs just placing the tester on the 26th. This means we will have those results on 4/27 vs 4/29.
- The property has gas furnaces, the gas fireplaces, a gas cooktop and likely gas water heaters. So, I would strongly encourage you to tell the inspector you want them to do carbon monoxide testing which would reveal if there were any carbon monoxide issues with any of these items (that use natural gas.) They can’t confirm for this visually which is why they must test. While it’s a small probability any issue exists, if there are problems it can literally result in a fatality. Plus, the test I think is only $100-$200 (but confirm that with the inspection firm when they call to confirm services.) Because very few buyers ever have this test done, the inspectors don’t automatically carry the tool with them. So, I can’t encourage you enough to be sure to ask that they have that equipment available to do this testing.
- The lender will likely require a termite inspection be done. I would suggest you do this though even if the lender does not require it! I think the cost is under $200 and in the scheme of the purchase price again most would say it makes sense to inspect for termites, I typically also fall into that category. Of course, you can confirm the cost with the inspection firm and confirm with Mack if this is required or optional!
- Infrared (IR) inspections, also known as thermal inspections, use a specialized camera to detect temperature variations, making them useful for finding problems like electrical hotspots, insulation gaps, or moisture leaks that are invisible to the naked eye. By using this non-invasive method, professionals can identify issues in electrical systems, buildings, and mechanical equipment to identify early warning symptoms. This is not a typical test that I encourage clients to have done although many inspectors strongly suggest it. Here, especially with the dryvit exterior it’s not a bad idea. It could help to catch something where there are no other warning signs. Again, Security Home Inspection can tell you the cost to help you determine if it makes sense to do this test proactively.
- Typically, I suggest waiting till after the inspection to see if there are any indicators of water penetration or because of that, any signs or symptoms of mold that would indicate the need to do air quality testing. Air quality tests assess potential issues like mold and Volatile Organic Compounds (VOCs) by collecting and analyzing air samples, typically using a biopump to capture particles for lab analysis. These tests involve a physical inspection to identify potential sources, air sampling, lab analysis to identify pollutants, and a final report with recommendations for improvement. Again, Security Home Inspection can tell you the likely high and low end of this cost to help you determine if it makes sense to do this test proactively.
- On older houses, or even on newer homes in older neighborhoods, it can make sense to do a Sewer Scope. A sewer scope inspection uses a flexible camera to visually inspect a home's sewer lines for issues like cracks, blockages, and root intrusion. During the inspection, a professional runs the camera through the main drain and sewer lines to identify and report any material defects, such as those caused by tree roots, pipe settling, or age. I don’t recall if we did one on Marlowe in 2019 although at the time I don’t think I would have suggested it since based on age alone, none of the examples listed are likely to be much of a concern. Since you purchased Marlowe though, I had another client go to sell a newer home in Herron Morton that was also built by the Redevelopment Group. That buyer’s agent had encountered an issue on a prior Redevelopment Group home that prompted that buyer to do the inspection. While there were no age-related items, what the inspection did reveal was that the sewer line instead of sloping downwards to the street connection was slightly running up hill. That repair ended up costing 3-4K so again based on the cost of the sewer scope it may make sense to do this even though you are looking more for an improper installation vs issues related to age.
If you want to discuss having or not having any of these tests completed, before deciding what tests to schedule, then just let me know when you want to talk about it, and we can make that call happen. Additionally, I would suggest if you want to ask more detailed questions about how some of these tests work, or will be undertaken, then I can’t strongly enough suggest that you talk with Patty at Security Home Inspection. While it’s possible she might just routinely answer the phone, her and her husband own the firm and she’s likely the most knowledgeable person there besides her husband!
Note: The inspection company will also want to confirm the payment method along with what services you want completed. I have listed the contact info for Security below. Security will likely try to call you staring Thursday. If you want to ensure the conversation happens at a day and time that works best for your schedule, then feel free to contact them directly first, by calling at some point Tomorrow.
Security Home Inspection – Phone (317) 848-1744, Fax: (317) 573-2089, Toll free (800) 878-1744
13277 Meridian Corners Blvd
Carmel Indiana 46032
If you have any difficulty, please ask to speak with Patty Thornberry. Their website is http://www.securityhomeinspection.com/
- We will need to notify the Seller about any issues related to the HOA documents within 7 days; from the date they provide us the documents. I have already shared those with you as the related to Hourglass so that you can start to review that sooner vs later. Once we receive the official set of docs from the listing agent, I’ll let you know, send over their set of the documents in case there is something new, and let you know when the 7 day review period ends. If you change your mind for any reason so that you do NOT want to proceed with the purchase based on the HOA documents, then we will have to notify the Seller before the end of that 7-day window and ask for your earnest money back. This is the easiest way to escape a purchase agreement with your Earnest Money in hand which is why it’s typically the shortest contingency period in the agreement. Since there is a lot there to read, and I know your schedules can be busy, please start reviewing, or reviewing again, all of those documents sooner vs later!
Once you have reviewed the HOA docs, if you decide you want to walk away, then place call me to discuss vs sending any emails or texts!
- If any of the funds you will use as part of your down payment and closing, are coming from an investment brokerage, or an online bank, or a bank that DOES NOT have a “brick and mortar” location in the greater Indianapolis area, then you will need to speak with someone at your bank/investment firm to gain clarity on their wire transfer process. As you may know, any time the total funds for closing exceed $9,999.00, then all funds must be wired early enough before closing, so that the title company has the funds at closing. We won’t typically know the exact amount needed for closing till two to three days before the actual closing. Here because we will have the clear to close well before then, we can have Mack provide us an estimate of funds needed for closing. All of that said, while most local bank branches can initiate and complete a wire transfer within 1 business day, it’s not atypical for on-line banks, credit unions or investment brokerages to tell you that it may take 3-4 or more business days from the time you initiate the wire till the time the Title firm literally receives the actual funds. Here because you will be out of the country immediately before the closing, this issue is a greater concern for me and, should be addressed a week or more before you leave on your vacation. Absent funds for closing by the closing date the Sellers can walk away and keep your earnest money!
Below I have listed several questions you will want to ideally obtain answers for in writing from the financial institutions that currently have your funds that you will need for closing.
- Can I initiate a wire transfer online or do I need to visit in person? Note: an EFT is different from a wire transfer, and an EFT cannot be used to move funds for closing!
- Is there a limit on the amount that I can wire daily or via online before I must visit in person?
- From the time I initiate a wire transfer, how long till I will be given a Federal Reference Number/SWIFT number? Does this amount of time change with an online vs an in-person request?
- From the Time I initiate a wire transfer, how long typically till the receiving party has the funds in their account via the wire? Again, does this amount of time change with an online vs an in-person request?
- Are wire transfers processed only at or before certain times during the day, and if yes what are those times/deadlines?
- You have till 12/28/25 to obtain your clear to close on the purchase. Since you will be already out of the country by this date, I have already shared with Mack that we need to have your clear to close, as well as the buyers on Marlowe, before you leave town!
- You have till 1/12/26 to close on the purchase. If for any reason you both don’t expect to be able to attend closing in person, then please let me know ASAP.