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Real Estate



It happened!  Finally!  Your offer was accepted!!!  Now what?  I work with both buyers and sellers and right now, in this seller’s market,  buyers are struggling so when their 10th offer is accepted, it’s truly time to celebrate! But there’s also stuff to do and NOT do.

 1. Your earnest money AKA your initial deposit check needs to be in the hands of the the escrow agent who is generally the listing office.  Depending on their location, you can drop it off, you can give it to me to drop off, or you can mail it but the faster it gets there, the better because this money is part of what binds the purchase and sales contract.

 2.  Schedule the Home Inspection

Your Buyer agent has worked with many home inspectors and should be able to recommend several for you to vet.  The inspection must be performed within 10 days, if in MA and 10 business days if in RI. So time is of the essence.

 3. Do NOT spend big money.  Yes, you can still buy groceries, pay your bills and go out to dinner.  However, don’t make any large purchases on credit or open a new line of credit in ANY store.  You also should not make big purchases in cash, deposit large unexplainable sums into your account or co-sign on your brother’s car loan.  Any of these can skew your debt to income ratio and get your loan denied.  When in doubt, Ask your lender  if your financial act is allowable.

 4. Your lender will be asking you for information, documents and statements.  Get these items to them ASAP.  The longer it takes you to respond, the more likely it will be to close on time.

 5. Wait Patiently.  The appraisal is an important aspect of the loan process.  Appraisers are just as swamped right now as realtors, lenders and home inspectors.  This should be scheduled by the 3rd week in so if it’s taking much longer than that, ask your lender if it’s been ordered.  Then wait some more.

 6. indoctrinate yourself into the neighborhood.  If it’s near Halloween, take your kids trick or treating on your new street.  Drop by and introduce yourself to the next door neighbors with a mini cranberry bread around Christmas or just walk the dog and say HI to the people in their yards.  Being a friendly neighbor begets having  friendly Neighbors.

 7.  Take a Deep Breath.  It’s scary and nerve wracking, I know.  But I’ve done this hundreds of times and will help you any way I can, so call me whenever you want!

 So congratulations!