Once you and the seller agree on terms, the home is officially under contract and escrow is open. Now, it’s time to order a home inspection.
Your Realtor can assist you in finding a professional, trustworthy inspector. Often times there are certain repairs that need to be made such as leaky plumbing or roof, cracks in foundations, termites or other insect infestations, etc.
Cost of repairs can be negotiated with the seller as part of the purchase agreement. Once the repairs have been made you will have a chance to “walk through” the home to make sure everything has been completed on the inspector’s report.
During escrow, your deposit is sent, disclosures are signed, inspections are done, contingencies are cleared, and financing is approved.
Your Realtor will help you complete the closing process before the closing date. There will be a check list of items that will include all monetary deposits and necessary paperwork including mortgage, title, homeowner’s insurance as well as any paperwork required by local or state governments.