We Signed the Offer, Now What?

I love this day the day that you accept an offer. The buyer feels like they have won their dream home, they buyer's agent is ecstatic that she can stop driving them around every Saturday, you know that you have found the right family and can move on and your agent starts to see a light at the end of the tunnel everyone goes out for steak! National polling statistics show that the day that you sign an offer is the emotional high point for every party involved. Here is the hilarious back stabber there is one point in the transaction where every party hits their emotional low point and it comes about 5 days later when the home is inspected. Here is what you can expect?

• The real estate agents will open an escrow by depositing the buyer's earnest money check and submitting executed copies of all of your contractual documents.
  
• You will be contacted by the escrow officer to find out your loan numbers so that they can demand payoffs for your loans
• Your home will be inspected you don't need to be there, it is worse than a root canal. You can call the inspector when you get the report the next day.
  
• You will be asked to do repairs on the home.
  
• The inspector will return to check your repairs.
  
• The buyers will arrange for a final walkthrough.
  
• You will attend an appointment at the title company where you will sign your home away.
  
• When you receive confirmation of the buyers final loan approval, you can start moving your belongings.
  
• A few days later, you will receive a call from your agent letting you know that you are on record that means that you can't use the hot tub anymore.
  

Your agent should keep you in the loop weekly at a minimum to insure that timelines are being kept and contractual obligations are being met.