Congratulations, you’re under contract!

How to navigate a transaction from here

Once under contract, it’s time to do your due diligence on the home to make sure you want to purchase it.

This time period often takes 30 days but it’s completely dependent on the contract. You and the seller may have agreed upon on a shorter or longer time period as well as a number of different items to work through.

  • Congrats! You’re under contract!

    This time period from offer accepted until the date that the deal closes is called ‘due diligence’. Within your offer, you’ve already decided on the items that will be a part of your due diligence checklist and also the dates by which the items need to be completed.

  • This is your opportunity to get 100% certain that you want to buy this home.

    Based on the contract, you’ll work through a checklist of items during a set period of time leading up to your closing date. These items may include having the home inspected, having the home appraised, negotiating any repairs that you’d like the seller to make and making sure your financing is in order.

    Some of these items you’ll get to choose (like having an inspection or waiving and inspection) and some of the items will be determined by your lender or the seller (like having an appraisal).

    Your realtor will help keep you on track to make sure you complete items on time and will also work with the seller’s agent to make sure the seller completes their items on time. All parties involved want the transaction to move along smoothly and to close on time.

    If or when unexpected situations arise, for example, a plumbing issue is identified during the inspection, you can count on your realtor to help you navigate next steps towards a solution.

  • An inspection is a professional review of a property looking for any issues that may not be visible to a buyer. An inspector will share their observations, surfacing anything they may have found, so that you can request reasonable repairs before you buy a home.

    They’ll check appliances, plumbing, electrical, the roof, and a wide variety of other things. Inspections often last multiple hours and you’ll receive a full report afterward.

    I always recommend having an inspection to protect your investment.