What Happens After Your Offer For Windsor Property Is Accepted!

Posted in Buyer Blog | 01/06/2012

Windsor Property

Windsor Property

The best telephone call a realtor can make is when their client’s offer for a Windsor property is accepted.  After searching at endless homes and going through negotiations, the work is finally done!  Or is it?  There are still some details that need to be handled before the home can officially be called your own, but this is where real estate agents really get to work to make sure the rest of the process goes smoothly.

1.  Secure Financing:  Now is the time to contact your mortgage company and start the proceedings for finalizing the home loan.  Hopefully, you have been preapproved for a mortgage, therefore, you hopefully you won’t come across any surprises.

2.  Appraisal:  This is when an appraiser will determine if your home is priced correctly.  Banks won’t lend money if the appraisal comes in lower than the selling price as they want to see the property at a price what it was sold for or higher.

3.  Inspection:  A licensed inspector will examine the Windsor property and determine if there are any defects that could void the purchase agreement.

4.  Title:  The home must have a clean title, which means the owners do not have a lien against their property.

5.  Homeowners Insurance: You must secure insurance before your home can close.

6.  Walk-through:  This is usually scheduled just prior to closing.  A buyer should walk through the Windsor property to make sure it is in good condition.

7.  Closing:  This is a mutually agreed upon date where all final documents are signed, closing costs paid and you become the new owner of your home!

 

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