Congratulations, The seller just accepted your offer and you're officially under contract. What Happens Now?
1. Turn In Your Earnest Money
Needs to be delivered immediately. Failure to deliver the funds promptly may result in a breach of contract.
2. Ensure Your Lender Has A Copy of Everything
Your lender is going to need to clear you to close. In order to do this, make every effort to send those documents to them as soon as possible. Items need to be delivered to your lender as soon as possible or you will risk not being able to close on time. BE AVAILABLE AND READY TO PROVIDE WHATEVER IS NEEDED.
3. Ensure Attorney Has A Copy of Everything
Your attorney will need their forms filled out to prepare your closing. Usually, the seller has their own lawyers that will prepare the closing.
4. Schedule Home Inspection
You’ll have an opportunity to inspect for pests, and hazardous items as well inside the house. Some of the main items you’ll want to be on the lookout for include issues with the: Foundation, roof, HVAC, plumbing, and electrical.
5. Your Lender Will Schedule Your Appraisal
Having your home appraised is part of what ensures the money the bank is giving you is enough so that they can recoup most of it should you stop paying your mortgage. A home appraisal is the bank’s way of figuring out if the amount of money they are lending to you is more or less than the value of your home, and that you are not over-paying for something.
6. Due Diligence For Repairs
Once you have the reports back from all of the inspectors you have the opportunity to negotiate repairs with the seller. Some sellers are more than willing to make repairs while others will deny your request.
7. Home Insurance Purchase
Home insurance is an important step in buying a home. You’ll want to be sure to find an insurance agent you like and that your insurance plan covers everything that you want it to.
8. Turn On Your Utilities
One of the last things you’ll do a handful of days before you move in is to set up your utilities. You can contact the listing agent to see who the seller’s current providers are so that you can either remain with them or switch to someone you like.
You’ll want to turn on things like electricity, gas, water, cable, internet, phone, etc. That way when you move into your new home you’re ready to go.
9. Close & Move In
Congratulations, this is the fun part! It’s time to move into your new house and you can finally relax after unpacking. It took an army to make it happen, and you should be proud.
Some of the final items you’ll need to take care of is an address change. You’ll want to be sure all of your mail is now coming to your new address.
It’s also a great opportunity to meet your new neighbors! When you see them outside don’t be afraid to wave, and follow that up by walking over and introducing yourself.
I hope you found this information empowering! I would love to know your thoughts and any questions you may have, in the comments below!
It's Time To Buy With Confidence & Sell With Success! #YourPremierRealtor
Yours Truly, #YourPremierRealtor
REALTOR ®, M.S.A.
3100 Gentian Blvd
Office 12 | Suite 007L
Columbus, GA 31907
Licensed With Century 21 Premier Real Estate, GA
7830 Veterans Parkway
Columbus, GA 31909
Phone: 706.576.2400 Ext. 60
A very awesome blog post.Thanks you!
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Natalie Nicole #YourPremier