💥 Your offer was accepted💥 … Now what?

Your offer has been accepted! Now what?
It’s time to open up escrow. The escrow company is a neutral third party that helps throughout the process. They will also work with the title company to make sure the property has a clear title, meaning there are not any outstanding 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, review disclosures from the seller, secure the loan for your property (if you have one), and get the appraisal done.
Hi, I’m Maya Crelan Ray with David Lyng Real Estate. It’s such an exciting time once an offer has been accepted, but we need to make sure that we are on top of everything so that we 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 so you can secure your financing. In regard to the appraisal on the property, the goal is for the appraisal to come in at the value we are in contract for. If it doesn’t, depending on what we’ve negotiated in the contract, we may need to go back and renegotiate the price or you may need to make up the difference. Now we are also working towards getting final loan approval so that loan documents can be ordered. Once you know the home has appraised for what you are in contract for and your loan is secure, you’re one step closer to homeownership. During this timeframe, we will order inspections for the property. Typically, I recommend you do a termite, roof, and professional home inspection, if the seller did not provide them. Depending on the property there may be other inspections that need to be
done and I can advise you on that. Once all of the inspections are done, we will discuss the reports along with the disclosures from the seller. This is when we would discuss all of the documentation and decide if any items in the home need to be repaired or if we need to request any credits for repairs from the seller. Again, depending on what’s happening in the market will make a difference upon what we ask or do not ask for.
These are just a few of the things that happen once your offer gets accepted. Call me and we can discuss how I can help you to make the process as easy as possible. I’m always available to help answer any questions large or small. I hope you have a great day and look forward to talking with you!