What’s the next step?
Congratulations! Your offer was accepted, now what? Between contract acceptance and the closing date, there are many things that need to be completed. In a nutshell, after an offer is accepted, generally any inspections will be completed. After the inspections, you complete a formal mortgage application and last but not least, the title, abstract, survey, and any miscellaneous paperwork is completed. When buying a home, finding the perfect home is only one part of actually becoming a homeowner. Throughout the mortgage process, you should expect the bank to require documentation, letters, and other items from you to satisfy the bank conditions, so don’t be upset or surprised when this happens.
Do I need to do a final walk-through?
As a buyer, you have the option to perform a final walk-through. Is a final walk through a requirement? NO. Is a final walk through necessary? YES. Generally, when buying a home several weeks go by between when you last walked through your home. Lots of things can change during that time. When doing a final walk through a few things you should check is that furnace is working, the toilets are flushing properly, and there is hot water.
When buying a home, one of the most important things to understand is that “no question is a dumb question.” If you’re unsure of something when buying a home, ask!
