Phone: 239.540.7007
Finding out that your offer on the house you want was accepted brings you one step closer to becoming a homeowner. There are still some things to be done before you get the keys. Here are the steps you must take after your offer is accepted.

8 Things to Do After Your Offer Is Accepted

If you followed our guide to purchasing your first home, you'd probably be interested to know what happens after you find "the one."  Well, you'll need to present a written offer for the house and await the seller's response. If your proposal gets accepted, here's what you need to do next.

Prepare Your Earnest Money

You're meant to present your earnest money once your offer has been accepted. The earnest money is around 1-2% of the home's total cost. You give it to the seller as proof that you will buy their home. The money becomes part of your down payment or closing costs.

Call Your Mortgage Lender

It’s nearly time to get your loan, which means you need to call your lender to begin the financial process. The loan process can take a while, and if it isn’t complete by the closing, you’d be breaching your contract. Best get it started as soon as the seller accepts your offer on their home. When you contact your lender, you’ll have to come prepared with various sorts of documentation and be ready to follow some requirements. The lender will probably ask you to get a home appraisal and to purchase title insurance for the new house. Title insurance protects the lender’s interest in your home in case something goes wrong, and you’re unable to continue with your payments. Learn more about title insurance in Fort Myers and how it can benefit you as well as your lender, by calling Schutt Law- Title Insurance Agency at (239) 540-7007.

Program a Home Appraisal

The home appraisal is part of the mortgage requirements. It will let the lender know the actual value of the property so they can give you an appropriate loan. It’s possible to get less money than what you asked for; it all depends on several factors that the home appraisal considers. Even if the appraisal results are not what you expected, a good credit score will help you get a better mortgage deal.

Schedule a Home Inspection

A home inspection is not a requirement, but it will grant you peace of mind knowing that the house is in good shape. A home inspector will check if the house needs any repairs or if it has any problems that can potentially grow bigger. An inspection will also help you get a better deal. If any minor details need to be fixed, you and the seller can come to an arrangement. You better schedule your home inspection within the first ten days after you receive your sales contract.

Purchase Homeowner's Insurance

Many times it’s the buyer’s responsibility to purchase homeowners insurance before closing. The insurance is another of the mortgage requirements. You will need to present a copy of the insurance policy to your lender so they can approve your loan.

Transfer the Utilities

You don't want to move into a house with no electricity or running water, right? You need to turn on the utilities or have them transferred to your name. If the home has city or town provided water the seller's agent needs to handle that area.

Final Walk-Through

Two days before closing, you’re allowed to do a final walk-through. This viewing allows you to check the condition of the house to make sure it remains the same as the last time you saw it, verify if any renovations were made and if the seller has removed all of their belongings. If you find something different from what you agreed upon, you can postpone the closing and give the seller some time to fix the issue. The final walk-through is your last chance to ask the seller to fix any problems. After closing, any problems that arise are your responsibility.

Closing Time

The day when you become a homeowner has officially arrived. The day of the closing you will sign the mortgage documents and get the keys to your new home. You need to bring your ID with you and cashier’s check to pay for the closing costs. Don’t worry, and you will know in advance how much you need to pay. Just in case the prices end up being different, you have the right to walk away.

Start Your Title Insurance Process in Fort Myers

Don't waste a lot of time before you call Schutt Law-Title Insurance Agency to request your title insurance policy. The insurance process might take some time, and you need it to be done before closing. Call them at (239) 540-7007, and they will do the rest.