YEAH! “Congratulations your offer was accepted! ” are sweet words.
Someone said ” Yes” to your proposal and they are willing to give you time to get to know the house and decide if you’ll live happily in it .
Now that you’ve reach this point, just like preparing for a wedding, things really get exciting.
Now is the time expediantly satisfy all contingencies in your contract and move forward to your closing.
Though the process is slightly different in every state, this is what your punch list ( which we will go over in greater detail) will look like this in Florida:
1. Get your financing in order. Your White Brick Real Estate Relationship Consultant started you off right with a proof of funds letter, a letter of pre-approval, or maybe both before you started looking at properties. Now is the time to move forward with your lender on the amount of money you need to buy this house. Honestly, your mortgage broker will need a mountain of paperwork , just like all lenders. They need you to, and your contract requires you to diligently work to provide everything that is requested in a very timely manner, so they will give you the thumbs-up. Your lender will require an appraisal by a licensed appraiser as part of this process, and will let you know when that needs to happen.
2. Have the home inspected. An inspection isn’t required by most lenders, but your White Brick consultant recommends it. The timeline for inspections is written into your contact. Depending on the terms of your contract and what the inspector turns up, you might ask the seller to make some fixes, ask for a concession, or even just walk away.
3. Find homeowners insurance. Almost every lender will require you to have signed up for homeowners insurance before approving your loan. Shop around and don’t be afraid to negotiate. You can save money by bundling your homeowners insurance with any other kind of insurance you have, like auto insurance.
4. Move toward closing. While all of this is happening, your lender will be preparing your loan. The title company will want to see a survey, and if a recent one doesn’t exist, you’ll have to have one done.
During this period, most of the work happens behind the scenes, with someone on your team—real estate agent, lawyer, lender, title agent—popping up to ask for a document here and there. Your primary job is make sure you have your down payment ready. Don’t make any big purchases, because that can mess with your credit.
When everybody gives the green light and your loan is approved, it’s time to head to the closing table and officially buy your home. You’ll do a final walk-through of the property a day or two before closing to ensure nothing has been damaged and that all changes specified in the contract were completed. Sign on the dotted line, and you’re done! Now you can focus all your energy on moving into your new home.