My Offer is Accepted... Now What?
In this blog we are reviewing your immediate next steps once you and the seller have agreed on price and terms! This will help you avoid any pitfalls and set you up for a smooth process!
1. Find an attorney.
You'll be signing contracts pretty soon. And it's important to have a good attorney represent you! After all we are talking about thousands of dollars and what is typically the largest investment for most people. Do you homework, make sure you choose someone who is readily available and will treat your transaction as if it was theirs. We are connect with some of the best in our industry so feel free to reach out!
2. Notify your lender.
We cannot emphasize this enough. Once you have agreed on terms and price you want to make sure that you and your lender are on the same page. You don't want any surprises once it's too late. You'll want to confirm your monthly payments, your closing costs, and how much money you'll need by the time closing comes around.
3. Schedule an inspection.
New York is a "buyer beware" state. This simply means that once you sign a contract, you are contractually obligated to purchase the home in the conditions that it is currently in unless otherwise negotiated. The inspection should be done by someone who is knowledgable about big ticket items in the home. This is an out of pocket expense that is absolutely necessary and will run you between 300-800 dollars depending on size of the property.
You can also check out our blog on inspections and what you should look for here!