Congratulations on getting an acceptance!
Here are somethings you can expect along the way:
- Time Frames: You will receive a Contingency Time Frame Letter. This letter is a summary of all our time frames as per our contract terms.
Here is a TIP TUESDAY you might find informative regarding this subject:
What is a Contingency? Part 1 https://homesbyhenson.net/blog/post/1185161
What is a Contingency? Part 2 https://homesbyhenson.net/blog/post/1383957
- Buyer will be ordering their inspections: The property is sold as-is subject to buyer’s investigation. We will notify you when the inspection will take place. The buyer’s Agent is usually responsible for providing access for the inspectors, but if you are able to do it, just let us know. We always recommend the seller not be present during the inspection. The inspections can typically take 2-4 hours, depending on what is ordered. It is also not uncommon to have inspections completed different days. We always like to coordinate the inspections to be done all at one time, but that is not always how it works out due to schedule conflicts. It is also common for the Buyer to meet with the Inspector at the end of the inspection to review everything. We feel inspections are important. The more the buyer knows about the property, the less chance they can come back later and say that you didn’t disclose something!
Here is a TIP TUESDAY you might find informative regarding this subject:
The Importance of Getting Inspections - https://homesbyhenson.net/blog/post/1236198
- Disclosures: The Seller has to provide all property disclosures typically within 7 days. If these have not already been done yet, we will need to schedule an appt that will take approx. 1-2 hours depending on the amount of information that needs to be disclosed. We always recommend to be as detailed as possible, and when in doubt, always disclose! We can do these in person, zoom or over the phone. When we complete these, we always leave the buyer information off the disclosures (will be added later), so if by chance the buyer cancels, we can use them for any subsequent buyer.
Here is a TIP TUESDAY you might find informative regarding this subject:
What is disclosed when selling? Part 1 - https://homesbyhenson.net/blog/post/1345471
What is disclosed when selling? Part 2 - https://homesbyhenson.net/blog/post/1357904
What is an Agent Visual Inspection Disclosure? - https://homesbyhenson.net/blog/post/1370114
- Appraisal: The Buyer’s Lender will be ordering the appraisal. Once scheduled, we will notify you of the date and time. Either the buyer’s Agent or we will provide access to the appraiser, but if you are able to do it, just let us know. We always recommend the seller not be present during the appraisal. The appraisal can typically take 30 min to 1 hour.
Here is a TIP TUESDAY you might find informative regarding this subject:
What is an appraisal? - https://homesbyhenson.net/blog/post/1247615
- Earnest Money Deposit: As per contract, the buyer will be depositing their initial deposit with the title company we chose.
Here is a TIP TUESDAY you might find informative regarding this subject:
What is the Earnest Money Deposit? - https://homesbyhenson.net/blog/post/1396395
- HOA Docs: Per contract, Seller is also to provide the HOA docs within 7 days. Escrow orders these and more than likely it will take longer than 7 days so it is good to order these ASAP. NOTE: If applicable
What are HOA Documents? - https://homesbyhenson.net/blog/post/1547898
- Compliance Items: Per the contract the property has to be in compliance with smoke detectors, Co2 detector, and the water heater has to be anchored, braced, and strapped to resist from falling due to an earthquake. The property also must have Low Flow toilets and Shower before close of escrow (this varies by county). It is our recommendation that these items be completed BEFORE an appraisal is done.
- Final Walk thru: A Final walk through will be completed prior to closing. This is NOT a contingency of the sale; it is to confirm the property is in the same condition as on the date of acceptance and in items that were to be done prior to close of escrow are completed. So keep up on the lawn care and check up on it to make sure nothing has been damaged or vandalized if the home is vacant.
Here is a TIP TUESDAY you might find informative regarding this subject:
What is a final walk thru? - https://homesbyhenson.net/blog/post/1396395
Remember: We are ALWAYS here to answer any questions you might have! Please feel free to call us anytime with your concerns or questions. We want to make sure you are comfortable with this process. And remember, it's normal to feel anxious! This is a big decision! But that is why we are here to walk you through this process! Congratulations!!
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Hi, we're Chantel Henson and Betty Stringer and we'd love to assist you. We are a mother-daughter team, committed to assisting you with your Real Estate needs! Providing you with Local Real Estate updates and advice for Monterey, Santa Cruz, Santa Clara, & San Benito County's real estate market for over 24 years.
We will provide you the FACTS! For an honest answer, call us. Our goal is, not to make a sale, but to create a Customer for Life!
Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having real estate professionals by your side. We'd be honored to put our real estate experience to work for you.
Chantel Henson & Betty Stringer
Broker/Owner & Broker Associate
Realtors®
DRE # 01271580 & 02042438
[email protected]
VANCO Real Estate Executives
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***Disclaimer- A Realtor has a fiduciary duty to Buyers and Sellers individually. Our goal is to have a strong knowledge base of contracts. However, we are not Real Estate attorneys. Please contact a Real Estate attorney for more information about how to protect yourself from liability and Real Estate contracts affect you and your situation directly.***