Your contract will have dates for specific events in the process of closing escrow. If you pass those dates, then it will be assumed that you accept the property and have waived the right to challenge. So don’t count on your Realtor to watch these dates for you. Make up a calendar of dates and tasks so that you know them. Then get that element completed well BEFORE the due date.
Here is an example. You have a date by which the physical inspection must be completed, let’s say March 16th. On your calendar, mark that date, but also mark the date you want the inspection performed, say March 12th. Then put on your list of things to do today: call inspector and schedule for March 12th. If you get to March 15th and have not scheduled or done the inspection then you will not be able to make it happen. The inspector usually needs a few days to send the 20-page report to you after downloading the photos. Contingency dates are not iffy; they are specific. Then you would need to prepare a Request for Repairs to have your agent send to the Listing Agent for their Seller to review, all by the due date.
Almost every contingency with a date takes more time than you would think. Ask your experienced agent the day-by-day process for each one so that you can plan in advance when to achieve them.
You may choose to get a soils test done, a septic tank test, a water well test, a termite report (usually done by the Seller, but not always), a roof inspection, a mold test, a radon test, and others.
With the loan, the best strategy involves a first very honest meeting with the Loan Officer and then completely truthful answers to every question after that. Doing this before you shop for a home can be extraordinarily valuable. The Processor and Underwriter will find out things about you that you may not even know yourself in the beginning. For instances, what is the total balance on all your credit cards? Your truthfulness will keep the loan contingency date from arriving without you having a pretty good idea about whether the loan is going to work or not.
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