Accepted Offer / Contract
We’ve scanned and emailed to you a copy of the contract. We strongly suggest you create a folder in your outlook, Gmail or whatever email server you use, and retain that contract for your records. You will also be receiving other emails from us, the Lender, the Inspector etc. It’s best to have your Created Folder in place so you can direct and maintain all correspondence. We don’t want you to feel overwhelmed with this process. We are your Agent and will guide you and be here for you every step of the way. Our desire is that your experience with purchasing a home be as smooth as possible. In the meantime, we have scanned and emailed to you separately a copy of the MLS sheet of the home you have purchased. You will need to refer to this often as you are communicating with the Inspector, Insurance Companies etc. You will seem like a savvy buyer when talking to them, as they will have questions about the home, so just offer to email the document to them which will provide all the information they are looking for.
Your Lender of Choice
Initially you got a “Pre-Approved Letter” and we submitted that letter with the offer. In today’s world that’s the accepted way things are for Sellers and Buyers. Remember this when you go to a doctor and need surgery, it’s always good to get a “Second Opinion ”So we strongly recommend you seek a 2nd Lender. Why? Because one may have special incentives, ZERO DOWN, or OFFERING a specific dollar amount towards closing, or even ZERO Origination points. So Indeed shop for the best Mortgage you can get. We do suggest that you work on this in a timely fashion. Once the offer is accepted we need to know within a few days of acceptance which Lender you would like to use. The Reason is we must submit the contract to the Lender of Choice to begin the process and get your loan done without delays.
We have Preferred Lenders we use all the time, these Lenders know their craft and treat you the buyer the way you should be treated, contact us at 251-599-5799 and we’ll give you some names and numbers.
During the typical initial 10 day from the ACCEPTANCE DATE, we will call your lender of choice and introduce ourselves as your Realtor, also known as “Your Buyers’ Agent” and provide them copies of all paperwork and our contact information. It is our duty to help them make the entire process as smooth and effortless as possible for you. Once the inspection is done, and you are satisfied with the resolution negotiations, we can proceed to the next steps.
After the inspection, you still have options. Your response choices include either walking away from the deal and receiving your earnest money back, asking for money to fix certain things yourself, asking for the sellers to fix things, or tell them everything is fine. Typically we give sellers 48 hrs to respond to your inspection resolution requests.
We have 10 days from the date of the Accepted Offer, to contact a inspector, schedule a time convenient for you both, to get him/her over to the house, do his inspection, (usually takes about 3 hours) We strongly recommend that you be there during the last hour of the inspection. It’s good to know as much as you can about your home and this is the best time to do just that. The inspector will give you a overview of what he/she has found and recommendations at that time. Afterwards you’ll receive his/her reports, and with your permission we need a copy of the report. We’ll go over it together, and we’ll be looking at the “Inspectors Summary Report.” The summary report will provide us the issues / repairs that need to be addressed by the seller. We then fill out a “Repair Addendum” with your signatures and present that to the seller. In turn the seller will respond as to what he/she is willing to repair based on the report. You need to choose which inspector you want to hire if any. Inspectors charge (usually $300 -$400)