Seller: What happens after I accept an offer on my house?
A common question we get from our seller clients is What happens after I accept an offer on my home.
Here are a number of things that happen:
1. We (your listing agent) will update the status of the property in MLS to "Active Option"
2. The buyer will pay you the option fee agreed upon in the purchase agreement.
3. The buyer will also deposit the earnest money with the title company and these funds stay in an escrow account.
4. The buyer will schedule the inspections of the home - general home inspection, swimming pool inspection, Wood Destroying Insect (WDI - termite) inspection etc.
5. The buyer will request the desired repairs after receiving the inspection report from the inspectors.
6. We will negotiate the repairs or any credit in lieu of repairs with the buyer's agent on your behalf.
7. We will get an amendment signed with the repairs/credit agreed upon by both the parties.
8. Buyer's lender will also order an appraisal of the home. We will also negotiate with the buyers if needed after appraisal is complete.
9. After the appraial, it is time for you to start packing and to plan your move. We will be happy to provide you recommendations about movers/packers if requested.
10. We will coordinate the closing with the title company and will accompany you at the closing!
Congratulations. You have just sold your home!