I Made an Offer on a Home- Now What?

moving processFinding the home you love and making an offer is a very exciting time. But what comes after the offer in the home buying process?

Here are some recommended steps to follow in the home buying process:

Patiently await the seller’s response

Once your agent has submitted your offer, the only thing you can do is wait. The seller is either going to accept it, come back with a counteroffer or reject it outright. It’s possible the seller has received multiple offers, which might spark a counteroffer of the price or change in one of your conditions. In this case, you will then be put in the position of accepting their counteroffer.

Work with a settlement agent

Now that you and the seller have reached an agreement, you’ll want some help with the paperwork. A settlement agent, or closing agent, will be able to handle any legal requirements of the sale such as prepaid taxes and the title search.

Get a home inspection

We highly recommend making your offer eligible upon a home inspection. A professional inspection can identify any trouble spots and give you peace of mind.

Get going on home insurance

Home insurance will protect your mortgage lender’s investment and your growing asset. Your lender will be able to provide you with the necessary coverage information and referrals.

Time to start packing

Hopefully you’ve been slowly getting organized and began the packing process. Don’t forget things like changing your address with the post office and notifying your utilities and financial institutions.

Inform family and friends

If you have children, let them know the optimisms of your upcoming move. You may also need to notify schools or childcare facilities. Also, remember to let your friends know you’ll have a change in address.

Make it a done deal

It’s time to resolve any discrepancies and close the deal. Once everything is signed and finalized, get the keys and enjoy your new home!

 

For more information on the home buying process or to apply for a VA Loan, contact Darren Copeland at Midwest VA Loans at  816-875-6392.

 

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