SREG Blog - Your Offer Got Accepted!

You Beat Out the Competition. So, What Comes Next?

First of all, Congratulations, you're in Escrow!

#1. Request Timelines from your Escrow, Realtor, and Loan Officer.

From your timelines, there are three important items that you need to make sure are done: 

1.) Make your Earnest Money Deposit (EMD) to Escrow. Normally your deadline is 3 business days. 

2.) Home Inspections. Order your home Inspections. Depending on your timelines, they normally are from 5 to 17 days.

3.) Appraisal. Have your lender order the appraisal as soon as possible. The lender will not order appraisal until you approve the Loan Estimate from your Loan Officer.

Meanwhile you have a lot of people working for you. Those are subcontractors to your escrow. One of them is the Title Company. You need to review the Preliminary Title Report from the title company. A title report to a property is like a credit report to an individual, tells you a lot. 

Remember, you are paying for these services, so if you have any questions, we nee to get you answers. You will also need to approval for the Preliminary Title Report.

Back to Your Realtor:

You need to review and approve Seller’s Disclosures. There are many disclosures, but here are four items that you need to put a lot of attention to: 

• Real Estate Transfer Disclosures

• Seller Property Questionnaire

• Residential Earthquake Risk Disclosure

• Local City Point of Sale Reports (9A Report, Water Retrofitting, Gas Valve Retrofitting)

Returning back to your Lender:

All items that were submitted to the lender for your pre-approval must now be submitted to the Underwriter for a formal approval.

The bottom-line Folks is that this happens all the time. Communication between your Escrow, Realtor and Lender is the key!