Offer Accepted! Now What?

Congratulations! Your offer has been accepted! Now what? There are a couple of things that need to happen right away to ensure a smooth transaction.

Earnest Money Deposit

First, we need to send in the Earnest Money Deposit within the time period stated in the contract. This deposit secures the property during the transaction and is usually held in the Title Company's escrow account, not by the sellers. The money will be applied toward the buyer's purchase price at closing.

Offer Accepted! Now What?

Congratulations! Your offer has been accepted! Now what? There are a couple of things that need to happen right away to ensure a smooth transaction.

Earnest Money Deposit

First, we need to send in the Earnest Money Deposit within the time period stated in the contract. This deposit secures the property during the transaction and is usually held in the Title Company's escrow account, not by the sellers. The money will be applied toward the buyer's purchase price at closing.

Scheduling Inspections

Next, we need to schedule all the necessary inspections and negotiate any repairs within the timeline stated in the contract. Beyond a general inspection, the buyer might want additional inspections, such as:

• Septic and/or Well Inspection: If the property has these features, it's important to ensure they are in good condition.

• Roof Inspection: If the roof's condition is uncertain, a licensed roofing company should inspect it to determine if it needs replacing.

A general inspector covers many items and provides an overall view of how well the home has been maintained. However, their report might lead to a need for more specialized inspections for peace of mind.

Timelines and Deadlines

Your agent will go over your timelines with you to ensure you know how much time you have to complete everything. Timelines are crucial, and your agent will help you stay on track to avoid losing your earnest money deposit.

Final Thoughts

Staying organized and adhering to the timelines in your contract is essential to a successful home purchase. If you have any questions or need assistance, I'm here to help.

I'm Tina Haddock with MavRealty.

For more information, reach out to me:

✉️ [email protected]

📱 912-337-4821