You have an Offer! Now What!?

Ok, now you have an Offer! Now What!?

So on any offer, you can accept, Reject or Counter.

In this market, we are seeing multiple offers and many over the asking price 

and many at the same price. How do you know which one to accept.??

Watch my upcoming video, Which offer do I accept??

So to stay on point, you have an offer that you have accepted. What's next??

The REPC, the Real Estate Purchase Contract is a contract between the buyer 
and seller outlining a list of details that both buyer and seller agree to in executing a smooth closing.

It also outlines remedies for either party if that contract procedure is not followed
 as agreed and signed off on.

But the gist of the whole thing is an acceptable timeline for the Buyers to get their part done.

I will cover the 5 main timelines to happen to close on a home.

#1. The Buyer is required to deposit the Earnest money that is offered upfront with the 

contract within 4 days of acceptance and send a receipt that it has been deposited with 

their brokerage or title company.

#2. Sellers Disclosure deadline. You, the Seller are required to fill out the 

Sellers Property Condition Disclosures. It is a 7-page document that you disclose any 

and all information and history about the home during the time you owned it. 

From the roof to the foundation and everything in between. 

This is usually required from 3 - 7 days after the offer accepted.

#3 Due Diligence Deadline. Buyers Due Diligence is normally within the first 2 weeks 

of the contract. They have the opportunity to hire a home inspector to inspect from 

top to bottom the structural integrity and any red flags that would affect your offer to purchase. 

It is also time to consider the survey of the property, or if they like the future neighbors... 

Any details that could affect the purchase is the sole duty and due diligence of the Buyer. 

#4  Financing & Appraisal. Depending on the offer whether it's a loan or cash, 

but normally 21-30 Days out. This is the Buyer's time to work diligently with his lender 

if there is a loan involved. The Sellers don't have anything to do with this but the 

The buyer needs to get any and all docs the lender requires to close the loan on time. 

#5  Settlement. Can be 30- 40 days. Occasionally we see cash deals close in 2 -3 weeks.

But this is the date when both parties go to the Title company to sign and buyers to wire 

funds for the home. This is not CLOSED yet. Many clients think that Settlement and closing 

are one and the same. No matter how many times I explain it. 

It is officially closed when all the docs are executed, funds are wired and the 

The title company has recorded. 

I hoped that helped. Your biggest job is to pack and the logistics of the move.

if you liked this video, please Like and Share and don't forget to subscribe for new videos when they come up.

I hope this video shows you its not that scary when you have an agent by your side.