Congratulations, you're under contract to buy a home.
You and your real estate agent have previewed homes and you fell in love with one. You wrote an offer, possibly had a few days of negotiations and now you are under contract. What's your next step?
Want to learn more? Scroll down and let's get serious.
You are under contract for your home sale.
An in-depth look at the days you are under contract.
You should make escrow to the escrow agent that was indicated on the agreement. You'll make escrow within the days listed on the contract. Everything is calculated by the contract effective date. The date the last party signed the contract.
2. Inspection period
You negotiated the length of the inspection period. During this time, don't start packing just yet, as you may cancel the agreement based on the findings in the inspection. This applies to as is sales or standard contracts for sale or purchase. You will need to hire a licensed inspector to conduct the property inspection. You'll want to inspect the property as well as maybe get a mold inspection, radon inspection, termite and more.
Depending on the contract that was used or what terms you negotiated, you will need to assess if you want repairs made by the seller or to ask for funds for repairs after closing.
If your home sale is contingent on an appraisal for purchase price or financing reasons, this will also be scheduled. If the appraisal comes in below your contract price, more often than not you will be renegotiating the sales price. If it comes in equal to or more than the home price, you're good to go! Now is the time to start packing, scheduling movers and planning for the logistics of your move.
4. Buyers financing
If you are unable to obtain a loan commitment within the time frame noted in your contract, you may have right to exit the contract without penalty. If you need more time, your agent may file for an extension as well.
5. Once all contingencies are met, you will get the clear to close.
Your real estate agent will walk you through and advise you of the best options as each of these steps present themselves. It is our specialty to help you remain under contract or to exit a contract if the situation presents itself.
HOME SELLING process
What to expect when you list your property for sale
YOU NEED A LISTING BROKER THAT KNOWS THE DEAL
People sell and buy their property for different reasons. We know how to help.
Move on uppers; ready for a bigger home? We
help you simultaneously sell and buy.
Getting divorced; we know what to do.
Life changers; job relocation or want a new neighborhood
Death or estate sales
Cash in equity; Cash in and take advantage of appreciating value to do other things
Investors; we help you flip out in a good way.
Financial shortfalls; Short sale and pre-foreclosures
Ready to set up some showings with a Rockstar Agent?
CONNECT WITH US
1400 Colonial Blvd Suite 18
Fort Myers, Fl 33907
Mon - Sun: When you're ready
Our office is nestled comfortably in Royal Palm Square in Ft Myers. We are located at the intersection of Colonial Blvd and Mcgregor Blvd. This area boasts of quick and easy access to Fort Myers, South Ft Myers, Downtown Ft Myers, Cape Coral, Fort Myers Beach, Sanibel, Lehigh and more. If you are ever in the neighborhood, stop by for a cup of coffee. Our office concept is that of open space and a gathering spot for the exchange of ideas, home shopping and conversation!