09/29/2022
You put your house on the market, found the perfect buyer, and accepted their offer! But…what happens now?
Your agent will guide you through the entire process, but here’s the cheatsheet version of what happens after an offer is accepted on a house.
1. An escrow account will be opened and the buyer will send their earnest money deposit there.
2. The buyer’s mortgage documents will start to be processed by the lender. This can take a few weeks, and is why the closing process takes a while.
3. The property’s title will be researched and cleared–or the buyer will come back to the seller with the things that need to be fixed.
4. The buyer will conduct a home inspection and come to the seller with any repair negotiations.
5. The home will be appraised to determine the fair market value for the lender.
6. The buyers will conduct a final walkthrough to make sure everything is good to go.
7. The final papers are signed and the ownership of the house is transferred!
The process is a little bit complicated, to be honest. That’s why it’s so important that you have an experienced expert on your side–whether you’re the seller or the buyer!
If you need some guidance through the real estate process, just send us a DM. We’d be happy to lend all the experience and knowledge we have so you can make the best real estate decisions!
