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:
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.
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