Congratulations, the seller has
accepted your offer, all parties have signed the offer, and all
parties have been notified of the acceptance. It's natural
to do a little celebrating at this point, but there is still
much work to be done. Here is a list of steps that will
occur between offer acceptance and contract closing.
1. Execute the contract.
2. Receipt the contract and earnest money with the
title company.
3. Deliver the option fee to the seller.
4. Notify your lender and provide them a copy of the
receipted contract.
5. Schedule inspections.
6. Attend the inspection.
7. Negotiate any repairs identified during the
inspections with the seller.
8. Receive and review the title commitment.
9. Receive and review deed restrictions.
10. Order and review the survey (seller may have a
survey that they can provide).
11. Decide if you are moving forward before the option
period expires.
12. When the option period is up, most of the work will
be with the lender.
13. Lender will order the appraisal.
14. Lender will submit the file to underwriting.
15. Lender will draft closing documents and send to the
title company.
16. Final HUD will be reviewed before closing.
17. The lender or title company will notify you of how
much money you need to bring to closing.
18. Schedule utilities to be turned on about a week
prior to closing.
19. Schedule a final walk through within 24hrs of
closing.
20. Pick up a cashier's check prior to closing.
You are now ready to close on your new home. See our
closing guide for more
information.