The Pending Process
So you just accepted an offer, and now your home is under contract with a buyer. Congratulations! What happens next?
Here is a breakdown of what to expect:
. The Inspection Process:
- Standard Inspections (Home, Radon & Wood Destroying Insect)
- Negotiating Inspection Issues
. The Mortgage Process:
- The Appraisal
- Receiving the Commitment Letter
. The Final Walkthrough:
- Usually happens within 48 hours from settlement day.
- Make sure the utilities are left on for the walkthrough, this is when
the Buyer is to check to ensure that the home that all major systems
are functioning properly, the home is substantially and physically in
the same condition as the day your home went under contract
with the Buyer.
. Settlement Day:
- Sign the Closing Disclosure and/or ALTA
- Sign the Deed
- Sign the Transfer Tax Form
- Exchange the Keys
- Receive your Funds