Congrats, you’re under contract!
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Now you are in the home stretch. Over the next 30 to 45 days we have a few things to do.
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1. Pay the EMD (earnest money deposit) –
Within 2 business day you will pay the EMD to your select settlement representative.
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2. Complete the home inspection & termite/moisture inspection –
Within 7 days the inspectors will complete their inspections and provide reports.
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3. Negotiate repairs with the Seller –
We will review the reports for major concerns, like issues with the roof, HVAC, electrical system or plumbing. After review, we will submit a repair request list to the Seller to begin this phase of negotiations. Once you and the Seller agree, we will be good to go.
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4. Review HOA or Condo docs (if applicable) –
If you are buying a home in an HOA or Condo you will receive HOA or Condo docs. These are the rules and guidelines for living in the community. You will have 3 days to review. During these 3 days you can terminate the contract if there is anything that is a deal breaker for you.
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5. Closing day!
The day you finally get your keys. You will sign many documents related to the sale with the settlement representative. If you have any cost to pay you will bring a cashier’s check or make a wire transfer.
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The process is simple and generally goes smoothly. Sometimes things can happen along the way to delay closing or prevent the deal from closing. Trust the process and be prepared to pivot, is necessary.
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Monique Harps, Realtor – eXp Realty
☎️757-300-5634
📧 Monique@moniqueharps.com