We've Signed A Contract Now What?
Congratulation! You have just executed a contract to purchase your next home.
HERE IS AN OVERVIEW OF WHAT YOU SHOULD BEGIN TO DO AND EXPECT AFTER SIGNING CONTRACT.
1. EARNEST MONEY AND OPTION MONEY CHECKS
a. Must be delivered to the Title Company
b. Ask your agent how this is handled
If you have chosen to do an inspection on the property, you need to line up an inspector
a. You can find a list of our preferred inspectors on our Preferred Vendor List. http://www.mikesrealtygroup.com/preferred-vendors.php
b. Your agent will help with this process, but the inspector should be chosen by you
c. In most cases, you will have an opportunity to request/negotiate repairs on the property.
3. OPTION EXPIRATION
After the Option Period has expired and all repairs have been negotiated, the focus will be on your loan (if you are obtaining financing).
a. Your lender will continue to request updated information from you
b. Your lender will order the appraisal
c. Your agent will stay in touch with you during this time, but the responsibility is yours to get what your lender needs
3. CLOSING DAY
MOST CONTRACTS DO NOT CLOSE ON THE WRITTEN CLOSING DATE!! Please know that your agent and all parties involved are doing what they can to hit the closing date noted in the contract. However, there are a lot of moving parts and they don’t always line up just right
a. Your agent will keep you in the loop every step of the way.
You are in good hands. This is why you hired us. We will take care of the details and let you know when we need something.