Once you make an offer on the property and it’s accepted by the seller, you will enter into a legal contract known as a Purchase and Sale Agreement. This document outlines all the terms and conditions of the transaction and is acknowledged by both parties by the signing of the document.
Once you have an agreement on the offer with the seller, you’ll hire an inspector to check and see if the home is in need of any repairs. They will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. This will give you the information you will need to negotiate with the sellers to cover the costs of any repairs or to ask for concessions.
Getting the best deal is what matters as you well know from your own experiences that got you here. Real estate is no different. Everything from the sales price to financing is on the table. Opulent Homes are pros whose job it is to best represent your interests in every negotiation.
Pre-approved or not, your next step will be to work out all the financial details with your lender for final loan approval. Check out our Tools section for more info on Opulent Homes vetted mortgage partners.
Your lender and you will next receive a full report detailing the property history to ensure there aren’t any legal issues that prevents you from assuming title of the property being purchased.
Accepted offer and closing date in hand, you will now arrange for escrow so that both you and the Seller can have an outside party ensure all parts of the contact are done. We will help you with all necessary forms for the escrow company and monitor the process until the transaction is complete.
Before the closing, you’ll receive a Settlement Statement letting you know of all the fees that may apply for you. At closing you and the Seller will sign all the paperwork, pay any settlement fees and ensure that the documents are officially recorded. Once the closing is recorded, you get the keys!