When Buying A Home, What Happens After My Offer Gets Accepted?
You’ve done it! You made an offer and it got accepted, congratulations! You and the Seller now have a binding agreement and each of you has a set of duties you will need to perform. The first thing you need to do is make your earnest money deposit. This deposit is different from your down-payment; it lets the Seller know you “earnestly” want their property and is typically it is 1% of the sales price. The second thing you need to complete is your inspection period. In California, a standard inspection period is 17 days long, but this can vary depending on what was agreed upon in your offer. This is your opportunity to find-out everything there is to know about the property, so take advantage! There are tons of inspections, but the most standard is a comprehensive home inspection that will scope-out the roof, foundation, electrical, plumbing, and appliances. If any issues were to be noted, the home inspector will recommend you contact a specialist for further evaluation and if you are unhappy with the results, you are able to walk-away from the transaction and get your deposit back. So much more happens after your offer gets accepted that you want to make sure you are in the right hands and a properly guided through the process. For a comprehensive list of what you need to do next, contact me at Anahi@greenmeansgrow.com or at 858.381.2621. Till next time and happy house hunting!