Your offers has been accepted, Congratulations. Now, what’s next?

It’s time to open escrow. The escrow company is a third party in the transaction that ensures neutrality throughout the process. They will also work with the title company to make sure the property does not have any clouds on the title. A cloud on the title means there are not any outstanding or unknown liens on the home. They will verify the home is actually owned by the seller and can be sold to you.

Now it’s time to get inspections done on the home to review disclosures from the seller and secure the loan for your property and start the appraisal process.

Hi, I’m John Herman with Property Up It’s such an exciting time when your offer has been accepted but we also need to make sure that we are on top of everything so that you don’t miss any of our contractual timelines. If you are securing a loan on the property, it’s imperative that you are in regular communication with your lender and us so we can ensure you secure your financing.

Now regarding the appraisal on the property. The goal is for the appraisal to come in at the value we’re under contract for. If it doesn’t, depending on what we’ve negotiated in the contract, we may need to go back and renegotiate that price.

Now we’re also working towards getting the final loan approval so that we can order loan documents. After you know the home is appraised for what you are in contract for and your loan is secured. You’re one step closer to owning your new home. During this time, we order inspections for the property. Depending on the type of loan we may need to order a termite inspection, roof inspection, pool inspection, sewer line inspection, structural engineer, home inspection, and a radon test. Typically, we recommend you do a home inspection and a radon test. During the inspection, we highly recommend that you attend the home inspection so you can learn as much as possible and the location of the emergency shut-offs for the gas and the water lines. During the inspection, you will most likely learn more in that 2.5 hours than in 2 years of living in it! There might even also be a few other inspections that are needed like lead-based paint, Asbestos, and others. We can advise you on that depending on the house you’re purchasing. Once all the inspections are done, we will meet to review the reports along with the disclosures from the seller. This is when we will discuss all the documentation and also decide if there are any items in the home that need to be repaired or addressed also if we need to request any credits for repairs from the seller.

However, this will depend on what’s happening in the current real estate market and will have a huge impact or difference on whether or not we ask for things to be fixed. Now, these were just a few of the things to think about once we get your offer accepted.

Call us here at PropertyUp and we can have one of our buyer specialists get in contact with you to make the process as easy and smooth as possible. And remember make it a great day and we love working with our buyers call us we’ll see you soon.