It is both exciting and relieving when the sellers accept your bid on a home, and this is just the beginning of the process before you finally settle in. For example, you must still contact your real estate agent, insurance company, and a certified home inspection specialist to finalize all the details before moving day. Here are some of the most significant steps you should complete after the acceptance of your offer.

Next Steps After Purchasing a Home

1. Deposit Earnest Money

An earnest payment is a sum of money that you pay before moving in to prove that you are serious about a financial agreement. For real estate sales, this is typically between 1-3% of the sale price. If the sale contract states a requirement for earnest money, make sure that it also has a condition to return the money to you if the sale falls through. After your bid is accepted, work with your agent to make the deposit as soon as possible.

2. Schedule a Home Inspection

A home inspection is a necessary step that informs you about any potential problems or repairs before you move in. For example, if an inspector finds extensive issues with the foundation, roof, HVAC system, or plumbing, you may have only a limited window to cancel the sale.

Alternatively, if the inspector finds minor issues, you can use that knowledge to get reasonable estimates for necessary repairs from contractors. When you do this, you can even renegotiate the sale price of the home with the seller to accommodate the costs of repairs if you did not know them originally.

3. Get an Appraisal

If you’re planning on buying a house with a loan, you should schedule an appraisal to estimate a reasonable value before finalizing the sale. Lenders typically require this professional valuation to determine how much money you are eligible to receive. If the appraisal value is lower than the amount you offered, talk to the seller to arrive at a fair price.

If you need a home inspection after successfully bidding on a property, contact A-Pro® Home Inspection Services in Denver, CO. They have over 25 years of experience, as well as the the knowledge, certifications, and skills to create a full appraisal of a new home’s equipment, utilities, and potential issues. For a free estimate on a home inspection, call (303) 875-7627. Visit the website for more information about their services.