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Luxury Villa

Accepted

Offer

Welcome to your Option Period

This page is designed to guide you through this next leg of your home buying journey. There are 13 resources listed her. Please give them a look over ASAP and refer to it often. 

01 - 06 : Do these things within the FIRST 2 DAYS

01. Set Expectations

  • There are usually a lot of emotions flowing at this point--especially if this is your first time. It is not uncommon to be excited after getting an offer accepted, then suddenly feel some anxiety or doubt when you start thinking about it. This is totally normal.

  • When in doubt, remember why we made an offer on this home in the first place, and know that we still have time to back out if, we determine this isn't the right fit after all.

  • I recommend being "Cautiously Optimistic" throughout this whole process. 

  • DO NOT submit your 30 day notice to your landlord (if you have one). Though we are under contract, it is still too soon to say with 100% certainty if or when you will be getting the keys to this house.

02. Submit your EMD & Option Fee

  • You typically have 3 days after going under contract to submit your earnest money deposit and your option fee to Title.

  • Title should contact you within 24 hours with instructions.

  • If you do not hear from title, please let me know so I may follow up with them.

03. Order your Home Inspection ASAP

  • Unless we have discussed otherwise, now is a good time to order your home inspection.

  • We want to complete your home inspection, review it before the end of our option period.

04. Set Up Your Inbox

  • Please keep an eye on your email. You will be contacted by a lot of people throughout this transaction (me, your lender, title and possibly an insurance company and other associates).

  • Best Practice: Any email's sent regarding this purchase should have the address in the subject line.

  • Create a filter in your email so that emails relating to this transaction never get sent to spam.

05. Work with your Lender

  • Your mortgage lender will be in contact to get updated documents & may request additional documents.

  • Please respond to them quickly and if you can't respond with the requested items quickly, let them know how long it will take for you to get them.

06. Follow the 10 Commandments

  • Click the link below to read the 10 Commandments for home buyers under contract.

  • If you DO break one of these PLEASE inform us ASAP so we can navigate the situation as smoothly as possible.

07 - 13 : Complete these at least 2 days before your option period ends.

07. Mark Your Calendar

  • I will send you a list of important dates within the first 48 hours of us going under contract. Please take note of these dates.

08. Check for Permits

  • You can check with the local building department to make sure that any renovations or additions to the property were done with the proper permits.

  • You may also discover things like pool installations, foundation repairs & more.

09. Research the neighborhood

  • Visit the property again (try to visit on a different day of the week at a different time of day.

  • Drive around the area.

  • Do some research online.

10. Review HOA documents (if applicable)

  • If your property is within an HOA, look over the documents.

  • If you have not received these documents, contact me and I will ensure you receive them.

11. Review the Survey

  • You should receive a copy of the property survey.

  • IF a survey is not available, you will want to hire a surveyor to come out and create an updated survey of the property.

12. Review Title

  • The Title company will review title on the property and ensure that there are no liens or other issues that could affect your ownership of the property.

13. Rush the Appraisal (if Applicable)

  • If we waved or did a partial waiver of your right to terminate due to under appraisal, we want to make sure the appraisal is completed before our option period is over.

14. Check for Environmental Hazards

  • Depending on the location and condition of the property, you may want to conduct an environmental assessment to check for hazards such as radon, mold, or lead paint.

15. Look Into Home Owners Insurance

  • You are required to carry home owners insurance.

  • When you make your monthly mortgage payment each month, part of it will be towards this insurance policy. So, your insurance policy will affect your monthly payments.

Future Homebuyer's Discussion
Future Homebuyer's Discussion
3 DAYS TO THE EVENT
Not sure where to start or how to prepare? You are not alone. Join us for this FREE, no-obligation seminar where we will go over some of the most common questions we receive from home buyers and some additional topics.
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