BUYING A HOME
MY OFFER HAS BEEN ACCEPTED, WHAT'S NEXT?
Congratulations! Your offer has been accepted and you’re officially under contract to purchase your home. The following steps will guide you through the process from contract to closing.
The goal during this phase is to move through inspections, financing, and title work smoothly so you can successfully close on your new home.
Step 1: Submit Your Escrow Deposit
Your escrow deposit must be delivered within the timeframe outlined in your contract. This deposit is typically held by the title company.
Step 2: Schedule Your Home Inspections
After the contract is executed, schedule inspections immediately. Common inspections include:
- General home inspection
- Termite or pest inspection
- Roof inspection
- HVAC inspection
Step 3: Complete Your Mortgage Loan Application
Your lender will finalize your loan application and begin underwriting. Be prepared to provide documentation and respond quickly to requests.
Step 4: Title Search and Insurance
The title company will verify ownership and ensure there are no issues affecting the property’s title.
Step 5: Secure Homeowner’s Insurance
You’ll need to secure an insurance policy prior to closing. This is required by most lenders.
Step 6: Transfer Utilities and Services
Set up utilities such as electricity, water, internet, and trash service to begin on closing day.
Step 7: Final Walkthrough Before Closing
Before closing, you’ll complete a final walkthrough to confirm the property condition matches the contract.
Closing on Your New Home
At closing, you’ll sign final documents and receive the keys to your new home.
