So you’re shopping for homes, you make an offer on the one you want, and the offer is accepted. Now what?
The first thing I want to say is that it’s not time to celebrate yet; we still have work to do before we get to close on the home. That can take up to 60 days after the offer is accepted. The first thing we can do is write out our earnest money deposit check. That’s the money that we give to the listing agent for the seller, which typically gives them peace of mind knowing they can take their property off the market, because you’re a serious buyer.
Secondly, we’ll schedule and coordinate our inspections, and attend them. This includes inspections for termites, radon, water, septic, and others depending on the property. After we review, we can decide if there are repairs to negotiate with the seller. The third thing we’ll do is make our mortgage application and make sure that the bank appraisal has been ordered, so the bank can review the property, make sure the value is there and review our financial statements. Assuming they approve our loan, we’ll get a loan commitment letter.
The fourth thing to do is schedule the final or pre-settlement walkthrough. This is our chance to walk through the property and make sure everything is in order before we settle on the property. Then we’ll attend the settlement at the title company of our choice, sign a whole lot of documents, and take the keys to the property.
Then, it’s time to celebrate!
Thanks as always for watching. Please reach out to us with any questions you have, whether you’re local or not.
