If you’re a Southern California home buyer or seller you may be asking yourself “now that the offer is accepted, what happens next?”
It’s a question I’m asked a lot when it comes to home buying and selling in Orange Co. CA or anywhere in So Cal. First, congratulations and here’s an idea from my perspective of what you can expect next:
- Escrow is opened with a third-party neutral entity that works on behalf of both the buyer and seller.
- The initial deposit is normally placed into escrow based on the terms in the CA Residential Purchase Agreement within 3 business days of acceptance of offer.
- The lender will order the property appraisal early in your transaction.
- Schedule the home/property physical inspection with an inspector of the buyer’s choice, and note this is different from the property appraisal.
- Request and review the seller property disclosures. In CA we have a wide variety of property disclosures, some are mandated by state or federal requirements while others are contractual commitments based on the purchase agreement.
- Remember if you’re using the CA Residential Purchase Agreement, it’s the foundation of your transaction and when in doubt refer back to your contract.
So thanks for coming to class today at HomeSelling101.com and if you’re buying or selling a home in So Cal or anywhere around, you might find these real estate videos helpful when it comes to Understanding the Real Estate Contract, Home Buyer 101 & Property Disclosures,buyer rights & duties, or maybe you want info on . Find out what it’s like to work with a CRS = A Certified Residential Specialist and learn more about the Buyer’s Final Walk Though.
Buying or selling a short sale property, you will want to take a quick look at the Short Sale Waiting Game, or Short Sale Vocabulary Video for an Upside Down Market or Short Sale Help for Sellers in CA.
Selling your home? Looking for knowledgeable, competent real estate help? Contact me Lynda@PreferredHomeBrokers.com, Direct or Text (714) 595-1494. Preferred Home Brokers has been around under the same broker/ownership for more than 35 years!