Especially in areas where demand for real estate is high, it is important that you are immediately prepared to move forward in the event an offer is accepted. These simple planning ideas can help ease the stress of deadlines and requirements.
- Contact a Real Estate Agent that you can work with. Even if you found a house you are interested in without an agent, it is wise to enlist the services of a real estate agent who will help guide you through the offer, contract, and the rest of the process. You can use the listing agent, or an agent of your choosing. We would be happy to recommend realtors that have worked in your area in the past.
- Hire an Attorney- as soon as your contract is signed (or even before to get the ball rolling). Attorney Review period begins when the contract is signed and is only three days. It is important that you have an attorney negotiating your contract on your behalf as soon as the time period begins, to allow enough time for the best outcome.Ideally, at the time your contract is signed, you should already have an attorney on deck.
- Get in touch with your Mortgage Company– if you already have a pre-approval, great. If not, contact a mortgage company to get this process started. You will need to compile your records and information and allow time for the bank to process the request. Your contract will likely have a provision that states your purchase of the property is contingent on your loan being approved.
- Find an Inspector- It is suggested that a private inspector conducts a full inspection of your prospective home, prior to your purchase. This should include a comprehensive inspection in addition to an oil tank sweep, radon testing, well testing, and septic testing where applicable. Once the inspector generates their report, the attorneys will negotiate to determine how any issues and charges for remediations will be handled.
- Answer emails, phone calls, and requests in a timely manner. It is likely that your mortgage company, attorney, and realtor will all have questions and paperwork for you throughout the process. Although it can be overwhelming, get back to these providers as soon as possible. Your response may be necessary before the next step of the process can proceed.