Congratulations, We’re So Happy for You!
Great news — we’ve verbally accepted an offer, and we’re moving forward! Here’s what happens next:
- Sign the Offer: Once both parties have verbally agreed, we’ll proceed with signing the offer. Once executed, we’ll send a copy of the signed contract to your attorney so that the attorney review and inspection period can officially begin on the next business day.
- Earnest Money: Within 24 hours of the contract being signed, the buyer is required to submit their earnest money to my office. This can be done either by dropping off a check or by wire transfer. The earnest money is a good faith deposit showing that the buyer is serious about moving forward with the transaction. It will be credited towards the buyer’s down payment at closing.Once we receive the earnest money, we’ll send you a receipt for your records. We hold this payment in our office because we act as a neutral third party in case any disputes arise between you and the buyer.
- Next Steps: Once the earnest money is received:
- We’ll mark your property as UC (Under Contract) in the MLS.
- We’ll cancel any future showings and upcoming open houses.
- This officially begins the attorney review and inspection period, which usually lasts between 5 to 10 business days (check your contract for the exact timeframe).
We’re getting closer, and we’re here to guide you through the next steps. If you have any questions along the way, feel free to reach out!