Congratulations! Your offer is accepted, and you’re officially on the path to homeownership. Now, let’s tackle the big question: What happens after your offer is accepted?
Step 1: Escrow — The First Step After Your Offer is Accepted
Escrow kicks things off. This neutral third party holds your earnest money deposit. It’s like a safety net for both you and the seller, proving you’re serious about the purchase.
Make sure your deposit is ready. A delay here could set everything back.
Step 2: Order Your Home Inspection
Think of a home inspection as your detective. It uncovers hidden issues—like leaks, faulty wiring, or a cranky furnace—that might not be obvious.
Schedule this as soon as escrow is opened. The sooner you know the home’s condition, the sooner you can plan your next steps.
Step 3: Negotiate Repairs or Seller Credits
The inspection report is in. What’s next? Time to strategize. Work with your Realtor to decide whether to request repairs, negotiate a credit, or move forward as-is.
Focus on deal-breakers, like structural problems or safety concerns.
Step 4: The Appraisal Process — Confirming Value
Your lender will order an appraisal to ensure the home is worth its price. Why does this matter? Lenders won’t loan more than the property’s value.
If the appraisal comes in low, don’t panic. Your Realtor can guide you through renegotiation options.
Step 5: Finalize Financing
By now, you’re in the home stretch of the mortgage process. Submit any remaining documents to your lender, lock in your interest rate, and prepare for closing.
Tip: Avoid large purchases or credit inquiries during this time. They can affect your approval!
Step 6: Title Review and Insurance
Before closing, a title company will verify that the property is free of legal disputes. Title insurance protects your investment in case any surprise claims arise after you buy.
Think of it as peace of mind, packaged in a legal document.
Step 7: Final Walkthrough
Picture this: It’s a day or two before closing, and you’re walking through your soon-to-be home. This is your chance to confirm repairs were made and everything is in order.
Spotted something off? Notify your Realtor immediately.
Step 8: Closing Day — Your Big Moment!
This is the finish line. You’ll sign legal documents, pay closing costs, and officially become a homeowner. Once everything is done, the keys are yours.
Ready to Take the Next Step?
Your journey from offer to closing doesn’t have to be complicated. Let me guide you every step of the way.
📞 Call or text me at 734-846-8358
📧 Email me at leslie@leslieemartin.com
With the right support, buying your dream home is simpler than you think. Let’s make it happen!
