Step 9: I have an Accepted Contract: Now What?

Congratulations, the seller has just accepted your offer or counter offer. There are several things we now need to make sure happen and a few items we need to help you schedule. 

Typically, the first thing we need to address is your initial earnest money deposit. We’ll go over specifics in the next step, but we need to make sure that you can drop this off to escrow or we can pick it up for you and make sure it is delivered to escrow by the next business day. If you plan to wire your initial deposit you will need to contact your bank in advance to check their guidelines and wire times.  

The 2nd thing to address is to update your loan offer to start your loan application and to get your loan file into processing. We will send your loan officer the contract and property information and once your loan application is submitted you should receive a “Loan Estimate” (LE). This will breakdown the type of loan, estimated loan terms, and estimated closing costs. 

Lastly we as your realtors will help to schedule your home inspection and any other inspections deemed necessary. We will check with you to see what are the best days and times to schedule your inspection. 

Be prepared for emails from myself, my team, your loan officer, and the escrow company. If you have any scheduling conflicts now is a good time to let us know. If you have any trips planned or times where you will be unreachable by phone or email this is also a good time to make us aware. 

Previous, Step 8: Submitting an Offer

Next, Step 10: Opening Escrow (Initial Earnest Money Deposit)

Steps to Buying a Home

HAWAII STARTS HERE | JOE CASTANEDA (R)

Joe is a realtor with Better Homes and Gardens Real Estate Advantage Realty. He majored in finance and has experience as a former mortgage loan originator. He has helped buyers both with new project loans and going through the process of applying and obtaining units in new projects. He uses his finance, mortgage, and real estate knowledge to help home buyers find the right properties to fit their needs. Contact Joe by phone or email at (808) 351-8394 or JoeC@BetterHawaii.com.