2boys4me
He's coming soon!
Member since 4/10 4260 total posts
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we accepted an offer!
My stepdads house that my sister and I inherited has been on the market since the beginning of January. We got some pretty low offers for awhile but we finally got what we were looking for and accepted an offer today! It's really bittersweet. I'm happy that it's looking like we will be finally selling it because it has a mortgage on it so we really need to sell it and it's also so painful going there everyday but I'm sad because I feel like it's still not real that he's gone, like I still feel like I'm snooping around his stuff at his house and that he is going to come home and yell at me. When we sell it, it's going to be real... kwim?
Anyway... what happens next after I accept an offer? I have never bought or sold a house before, this is all so new to me.
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Re: we accepted an offer!
Congratulations!
Next step is usually the home inspection (arranged by and paid for by the buyers, if they want it, and they almost always do), and then the attorneys will prepare the contract. I assume you have an attorney who will handle the deal for you, so the buyers' attorney will usually reach out to the sellers' attorney to get the ball rolling (and then the sellers' attorney prepares the initial draft of the contract). The buyers then sign first, and then once you countersign, the house is fully "in contract." At that point, the house is usually not shown anymore (unless the deal looks weak, e.g. buyers may not get financing, and the seller wants to keep showing to get back up offers), and the house does not show as available on MLS.
After contracts are signed, you are usually just waiting for the buyers to get a mortgage commitment -- their lender will do an appraisal, but it's very quick and the seller need not be there if the house isn't occupied and the agent has a key -- and for the attorneys to handle the title search and all of that. The last thing is that the buyers will do a "final walk through" just prior to the closing to make sure everything's in the same condition as it was when they saw the house and made an offer. At closing, you basically just sign a ton of papers, hand over the keys, and wish the buyers well.
I hope everything goes smoothly for you (and I am sorry for the loss of your stepfather!).
Christine
Message edited 3/2/2011 10:37:00 PM.
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