Step 3: After Offer Agreement
TLDR: Make sure you complete the required tasks before their deadlines to prevent losing the house (and your earnest money deposit!)
Congratulations, you're officially under contract! Let the obstacle course to get to closing begin!
Now that you've made an offer and agreed on terms with the seller, you've got a series of tasks that need to be completed before you're handed the keys. These major items include:
Getting approved for financing
Resolving any contingencies or disclosures
Having the house appraise at or more than the agreed upon purchase price
Inspecting the house for flaws and agreeing with the seller on repairs and/or credits
Having the title search done to ensure ownership is yours after the transfer
Scheduling closing and settling on the house
After completing these tasks, you will be the new owner of a house!
Tip
Moving day will arrive before you know it! Once you reach an agreement with the seller, you'll want to start considering moving and storage options, if you haven't already.
