I’m Under Contract! … Now What??

From the time you have an offer accepted to your closing date can vary, but on average is 30-60 days depending on the complexity of your loan or if the transaction involves a home-sale contingency from the buyer or seller. If you’re looking for a quicker close, we can almost always close faster (sometimes as little as 7-10 days!)

Of course, your search can take as long or as little as you’re willing to #househunt, but that 30-60 day window is critical if you’re trying to time a move (e.g. lease end date, starting a new job, before baby arrives… )

So what happens after your contract is accepted?

When working together, I provide my buyers and sellers an online dashboard of what to Screen Shot 2018-05-25 at 12.19.05 PMexpect across the next steps, including the three major transaction contingencies and key dates along the way.

  1. Inspection: professional review of the condition of the home’s major systems, visible features and overall performance
  2. Attorney review: negotiating home inspection issues and contract modifications, reviewing title and HOA documentation, agreeing tax proration
  3. Mortgage contingency: Processing and finalizing your loan through underwriting, appraisal report, and securing your loan

Additional key dates:

  • Initial and Remaining Earnest Money deadlines
  • Homeowners Insurance deadline, as required by your lender
  • Helpful reminders like calling utility companies, hiring movers, changing your mailing address, considering home warranty options
  • Initial and final closing disclosures from lender and title company
  • Final walk-through & Closing Day

In this online dashboard, all these dates are easily added to your online calendar.  I also include my recommended team of lenders, inspectors, attorneys, movers, insurance agents and contractors – plus, I provide easy links to get in touch with ComEd, Peoples Gas, cable/internet providers and USPS.  –– All this designed to make the process clearer, accessible and easier!

If you have questions about your buying options and timelines, or lender referrals, give me a call or start your home search here on my website or mobile app!

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