Offer Accepted; Now What?

Once your offer is accepted by the seller, you will enter the next phase of the transaction, where you will be asked to make a deposit, which is typically around 2-5% of the purchase price and is also refundable for the conditional period. It is usually held in the selling Realtor's Broker's trust account.

Each contract is different, but some of the common conditions that you will come across are:

1. Financing Condition: Here, you will have a set period of time to secure mortgage funding. If you can't secure funding within the time frame, you must decide whether to cancel the purchase or not. It is very crucial to be pre-approved before buying a property to avoid negative experiences for the seller and you as the buyer.
2. Inspection Condition: As soon as you get a commitment letter from your mortgage lender its best to get a property inspection done by a qualified licensed Property Inspector. If the outcomes are subpar, you can either request repairs or terminate the contract.

Before finalizing the sale, homeowner's insurance is usually necessary. It is very important to submit an insurance application as soon as the contract is signed to ensure your property can be insured. 

Simply complete the form below, and one of our experienced team members will get in touch with you very soon.  

Give us a call, shoot us a text, or send us an email when you are ready to start the home buying or selling process!

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