Submitting an Offer and Closing
Once you’ve found a house you love, it’s time to submit an offer!
Here’s what the final steps to homeownership look like.
Submitting an Offer
We’ve found a house you love and you’ve decided to move forward in putting in an offer! The most important aspect of your offer is the purchase price. This number will depend on the condition of the property, other recently sold and comparable properties, and the urgency of the seller. Other factors of your offer may include contingencies such as an oil tank removal. Finally, the last part of your offer to consider is possession date which is the day you’ll be ready to officially close.
Once the seller receives the offer, one of three things will happen. They will either accept the offer, reject the offer, or counter the offer with changes. The most likely scenario is that they will counter, and this is where you and I will work together to negotiate the best possible price and terms in order to make a happy and efficient closing for everyone.
Closing
Having an offer accepted is just the start of the closing process. There are still some steps that we will work through while under contract, all of which I will help guide you through!
Attorney review
The first step after having an offer accepted will be to hire an attorney to review the contract and make any changes necessary. During attorney review, each detail of the contract will be examined to ensure that both parties are entering a fair deal. After attorney review is concluded, you will be officially under contract.
HOME INSPECTION & APPRAISAL
The home inspection is an opportunity for us to learn about the condition of your new home. We will negotiate credit or repair for any latent or hazardous defects discovered. Either way, you will be well-informed when you finalize your purchase decision.
An appraisal is an independent, unbiased estimate of the value of your new home. The appraiser is hired by your mortgage lender to analyze the property for the purpose of estimating value. The lender determines whether the property is worth enough to justify or support the loan which is being sought.
Acquiring a mortgage commitment
You will work with your lender to ensure the target date for your mortgage commitment is finalized. This part guarantees full funding for the purchase of your home. Don’t forget to purchase homeowner’s insurance!
Closing Table
The final step will be signing the deed to your new home. The closing date is tentative and may change throughout this process. Closing day marks the end of your home buying process and the beginning of the next chapter of your life!
Ready to start?
There are few things in life more exciting than purchasing a home, and I pride myself on making the entire process as smooth, fun, and exciting as possible. I’ll be here to guide you every step of the way.
As a Miracle Agent, every home I help a client purchase is a Miracle Home!
Click here to see how I’m helping make miracles for sick and injured children in our community!
Previous Steps
1. Pre-approval
the first step
2. Showings
house-hunting begins