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Today, we’ll talk about what to do once a home goes under contract. First off, congratulations getting your offer accepted! Now comes the fun part.
- Pay the earnest money deposit. If you haven’t met with your agent about it yet, make sure to pay this deposit. It shows your good faith and confidence in a transaction. You’ll get a refund of that at the time of closing.
- Your lender will order an appraisal on the property you plan to buy. With this, the lender can verify the home value adequate to the loan amount you’re using to buy the home. Don’t be surprised if they ask for a security deposit, because this can easily become an added closing cost.
- Consider inspections on pre-existing homes. At the end of complete transactions, you might find yourself asking the seller for some concessions, but don’t count on them. They won’t always be met within reason. Understand, though, a home seller will want to take care of repairs before the home is officially sold to you.
- Conduct a final walk-through. Once the lender has wrapped up their details, walk through the home for a final inspection to double-check if there’s anything else that needs to be addressed before closing.
If you’re thinking about buying or selling a Wyoming home this year, give me a call or send me an email! I’d be happy to answer your questions and serve your local real estate needs.