Step 10: I Have an Offer Accepted, Now What?
Congratulations! The contract has been accepted by the sellers and completely signed around by both you the buyers, and the sellers. Naturally the next question would be “What happens next?” There are quite a few things that need to happen moving forward:
- The contract needs to be sent to your mortgage lender and to escrow. As your real estate agent, we will take care of this for you. It is important for your mortgage lender to know that you are now under contract, and they will continue to make sure you will be fully approved for this mortgage (since at this moment you are only pre-approved). Your mortgage lender will be getting in touch with you to continue the process and ask you to fill out quite a bit of paperwork. It is important to be prompt when communicating with your lender to keep things moving quickly and smoothly in the right direction. The faster this process goes, the better.
- We will schedule the inspection for you. This needs to be done as soon as possible, especially if you are executing a shorter inspection period. We can recommend a list of inspectors to you and you can let us know who you would like for us to contact, or you can make the appointment, whichever you are more comfortable with.
- Write and drop off earnest money check. The earnest money check can either be held by the seller’s agent’s brokerage or by the escrow company that is taking care of closing. It will need to be in the form of a personal check or cashier's check. You will need to drop off the earnest money check as soon as possible. You have two business days to do so, but do not wait until the last minute. Ask for a receipt when you drop it off. Hold onto this receipt and bring it with you at closing.
Now that the above things have been taken care of, we will be in close contact with you every couple of days to alert you of the next steps, and to ensure a smooth transaction as we get closer to the close date!
Connect with the Pierce County Real Estate Team
- Step 01 - Hire a REALTOR
- Step 02 - Home Buyer's Checklist
- Step 03 - Get Preapproved for a Mortgage
- Step 04 - Prepare for Earnest Money Deposit
- Step 05 - Get Down Payment Ready
- Step 06 - Finding Your Dream Home
- Step 07 - Schedule a Time for Showings
- Step 08 - Make an Offer
- Step 09 - Review Seller's Disclosure
- Step 10 - I Have an Offer Accepted, Now What?
- Step 11 - Schedule the Home Inspection
- Step 12 - What is the Inspection Contingency Period?
- Step 13 - Schedule the Side Sewer Inspection
- Step 14 - Schedule the Septic Inspection
- Step 15 - Tips for Attending the Home Inspection
- Step 16 - Read the Inspection Report
- Step 17 - Review Supplementary Documents
- Step 18 - Don't Spend Extra Money
- Step 19 - Give Notice to Your Landlord
- Step 20 - Schedule the Closing Date on Your Calendar
- Step 21 - The Appraisal
- Step 22 - Hire Movers and Start Packing
- Step 23 - Hook Up Your Utilities
- Step 24 - Set Up Homeowner's Insurance
- Step 25 - Do You Want a Home Warranty?
- Step 26 - Secure Your New Home
- Step 27 - What is Clear to Close?
- Step 28 - Attend the Walk Through
- Step 29 - Wire Your Down Payment
- Step 30 - Attend Closing
- Step 31 - Wrapping Things Up
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