We made an offer, now what?

[Kryztan]

I love that house....its so cute!

[Spazz]

Congrats on making an offer I love the house, it looks so nice! Last winter I bought a house and started a new job while planning the wedding, so I know how you feel, it's like everything is happening at once. But it's so exciting!

[JaimeLynne]

LOVE that backyard!!!!

[Heidi]

CONGRATS! We're going through it NOW! Yikes! It's quite the learning process! After we made an offer, we received a counter offer. When that was accepted, we scheduled the home and termite inspections for the next week (our offer stated that we'd have it done within 15 days of the offer). We finalized our mortgage (had 30 days to do that). We did two good faith deposits (totaling $3000). Now, we're playing the waiting game. Closing/settlement is on May 30th - so I can let you know what that's like!! Good luck!!

[jamisoncollette]

I suck at waiting! Thank you so much for all the info ladies, beats reading about it in House Buying for Dummies

We did make the offer contingent on inspections because it is so old. The realtor asked that I come to Rochester this weekend during the first inspection. Is this normal? Does this mean she thinks the seller will accept the offer?

[becks]

New York is different than a lot of places. Your agent will come back to you with the counter offer or the acceptance of your offer. Then the seller's attorney will draft a contract of sale and will need to send it to your lawyer. You will need a lawyer. If you don't have one, I can refer you to ours who is fabulous - send me a PM and I'll forward you the info.

 

Before the contract is finalized you will need to get an engineers inspection - get some recommendations - there are a ton of mediocre engineers out there, and particularly given the age of the house, you want a GOOD engineer.

 

The contract will state the terms of sale, including any contingencies, etc. Once the contract is fully executed (signed by both parties), you basically will have to wait for the bank to approve your loan, and youre done.

 

Congrats!!! It's very exciting! and the house is adorable!

[jamisoncollette]

Quote:

Originally Posted by becks Congrats!!! It's very exciting! and the house is adorable!

My house will be the quaint country estate and yours is the chic city pad!

[Sandra E.]

Congratulations! Now the negotiation begins... good luck!

[seaprincess]

Congratulations! We just went through the whole process not too long ago for the first time. We actually put an offer in on a house, and they had 3 days to decide because they were out of town. In that time, another buyer came in and offered them full price for the house so they took that offer. It was really disappointing, but then we found a better house a couple of weeks later. We put in our offer, they countered, we accepted. We put a good faith deposit down of $2000. We only had 1 week to get the home inspection and secure our mortgage and then we closed 3 weeks later! It was really, really quick but now we are in our new home and we love it! We are so happy to have lost the first house now that we are in this one!

Congrats on finishing school and planninng the wedding at the same time without losing your mind! Go big or go home I say! Have fun with the process

[jajajaja]

Such a cute house! Congrats! I hope the waiting period isn't too much longer. Waiting makes me bonkers too!