What Happens After You Accept an Offer?

Once the contract is executed, both parties begin working through the obligations and deadlines established in the agreement.

Depending on the transaction, important steps may include:

• Earnest money and option fee delivery
• Buyer inspections
• Repair negotiations
• Buyer financing
• Appraisal
• Title review
• HOA documentation
• Insurance considerations
• Final walkthrough
• Closing and possession

Each transaction is different, so sellers should follow the requirements and deadlines established by their specific contract.

The Buyer's Option Period

When the contract includes an option period, the buyer generally has a contractual window to conduct inspections and evaluate the property.

The buyer may choose to hire a general home inspector and, depending on the property or findings, additional specialists.

Inspection findings may lead to questions or requests involving repairs, credits or other negotiated solutions.

Inspection Findings Do Not Automatically Require Every Repair

An inspection report may contain maintenance observations, safety concerns, aging components and other property conditions.

A seller should evaluate the buyer’s request together with the contract, property condition, negotiating position and overall transaction rather than assuming every inspection item must be accepted.

Preparation Before Listing Can Help

Bale Real Estate Group’s Certified Pre-Owned Home Listing Program includes a professional pre-listing inspection paid for by Bale Real Estate Group.

Identifying observable property concerns before listing can give sellers more time to understand potential issues and make preparation decisions before the buyer’s option period begins.

Certified Pre-Owned Home Listing Program for Griffin Parc Sellers

The Appraisal

When the buyer is financing the purchase, the lender may require an appraisal as part of the loan process.

The appraiser develops an opinion of value using the property, relevant market information and applicable comparable sales.

If an appraisal creates a valuation issue, the available options depend on the contract and circumstances of the transaction.

Possible outcomes may involve additional review, negotiation between the parties or other solutions permitted under the contract.

Buyer Financing Continues After the Contract Is Signed

A buyer’s pre-approval is important, but the lender still has work to complete after the contract is executed.

The financing process may involve:

• Updated financial documentation
• Income and employment verification
• Asset verification
• Credit review
• Property appraisal
• Insurance requirements
• Underwriting
• Final loan approval

Why Financing Strength Matters When Reviewing an Offer

Sellers should evaluate more than the purchase price when comparing offers.

Buyer financing strength, loan type, down payment, appraisal terms, concessions, option period, closing timeline and other contractual terms can influence the overall strength of an offer.

Understanding those terms before accepting an offer can reduce unnecessary surprises later in the transaction.

Title and HOA Documentation

The title company plays an important role in preparing the transaction for closing.

Depending on the transaction, the title process may involve reviewing ownership records, existing liens, title requirements and other matters affecting transfer of ownership.

Applicable HOA documents may also need to be provided and reviewed as required by the transaction.

Keep Contractual Deadlines Organized

Real estate contracts contain deadlines that can affect the rights and obligations of buyers and sellers.

Important dates may involve:

• Earnest money
• Option period
• Financing
• Appraisal provisions
• Title matters
• HOA documentation
• Closing
• Possession

Gary and Linda help sellers monitor the transaction and coordinate with the appropriate parties as the contract progresses.