Your Offer Was Accepted, Now What?
House hunting is so much fun, but let's be honest - the real thrill is when you make an offer and we're all waiting with baited breath to see how the seller responds. Today, you got that response and your offer was accepted! Congratulations, you're going to be a homeowner!
And now you're terrified because you're going to be a homeowner. So now what? I'm glad you asked.
First, get your earnest money to your Realtor. You will have already agreed on an amount and a timeline, so make sure you stick to that. The sooner you get it to your agent the better, because she may need time to then get it to her office or the listing agent.
Your Realtor should deliver your contract to your lender and your closing agent, who is most likely an attorney. Check with your lender to make sure she received it. Then watch for communications from both of them with instructions on next steps. They'll be reminding you to obtain insurance quotes, schedule your inspections (your Realtor should help with this) and most imporantly, not to do anything to jeopardize your mortgage.
Your lender is going to require you to have insurance lined up before she can finalize your mortgage and lock in your rate, so it can't hurt to get that process started before she asks. Don't hesitate to ask your Realtor for contacts.
The next step is to schedule the inspections. You agent will have some contacts for you, so don't think you have to just Google "home inspector" and cross your fingers! I have several inspectors I've worked with quite a bit and I won't hesitate to share information and experiences. Just don't be afraid to ask.
Your Realtor's job is to walk you through every step of the process. If she's any good, she's going to give you two to three steps at a time so you always know what's next, but aren't overwhelmed with things that won't be happening for a month or more. That's how I work, but I'm always willing to give you the whole timeline if you ask.
I hope you're sensing a theme here - lean on your Realtor. Let her do the heavy lifting. But never hesitate to ask questions, ask for referrals or ask for help. Now start packing!
And now you're terrified because you're going to be a homeowner. So now what? I'm glad you asked.
First, get your earnest money to your Realtor. You will have already agreed on an amount and a timeline, so make sure you stick to that. The sooner you get it to your agent the better, because she may need time to then get it to her office or the listing agent.
Your Realtor should deliver your contract to your lender and your closing agent, who is most likely an attorney. Check with your lender to make sure she received it. Then watch for communications from both of them with instructions on next steps. They'll be reminding you to obtain insurance quotes, schedule your inspections (your Realtor should help with this) and most imporantly, not to do anything to jeopardize your mortgage.
Your lender is going to require you to have insurance lined up before she can finalize your mortgage and lock in your rate, so it can't hurt to get that process started before she asks. Don't hesitate to ask your Realtor for contacts.
The next step is to schedule the inspections. You agent will have some contacts for you, so don't think you have to just Google "home inspector" and cross your fingers! I have several inspectors I've worked with quite a bit and I won't hesitate to share information and experiences. Just don't be afraid to ask.
Your Realtor's job is to walk you through every step of the process. If she's any good, she's going to give you two to three steps at a time so you always know what's next, but aren't overwhelmed with things that won't be happening for a month or more. That's how I work, but I'm always willing to give you the whole timeline if you ask.
I hope you're sensing a theme here - lean on your Realtor. Let her do the heavy lifting. But never hesitate to ask questions, ask for referrals or ask for help. Now start packing!
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