Any tips or pointers now that our offer has been accepted?

Question

This is the first house we've ever purchased. I want to make sure I don't miss anything. So I'm looking for any insight I can get on navigating the next phase!

I have read nearly every blog post on “10 Things To Do Once Your Offer Is Accepted”. So I think I have a good sense for the critical steps. And our agent is great! I’m not concerned that we’re blindly going down this path, but I’m the kind of guy that likes to get as many different perspectives and ideas as possible.

It’s an all cash offer for an SFR in California with a 15 day close

With that, my request is for any tips, pointers, or questions we should be asking as we navigate this process!

Catherine Emert · Answer

@Matt Pine I would think some of the following would be beneficial to your purchase:

1. Have you made any repairs and/or updates/remodels?

2. Did any of those repairs/updates/remodels require a permit and did you obtain a permit? (follow up with the county to make sure the permit was finalized).

3. Review your prelim for any easements, etc. you can ask title for any answers you are seeking about this report.

4. If it's currently a rental ask for the rent rolls, P&Ls, leases, late payments, security deposit info., inspections done.

5. Ask for the Sellers Property Disclosure Statement - read through each question and answer carefully and ask any questions that may come up even if they are small.

6. If it's in an HOA you want to make sure you are calling the HOA management and make sure there are no violations against the property, any past debt etc.

In real estate there is really no stupid question - I'd also ask if anything is still under warranty on the home and make sure that warranty is transferable.

I hope that helps.

Matt Pine · Answer

Thanks! That's great stuff!

@Catherine Emert I didn't really think about those types of questions at all! Please free to list off any and all questions you'd ask in our situation :)

Angel Ginnett · Answer

Congratulations,  That's so exciting.  Just be really cautious with wire transfers when you close.  Call your title company directly for the instructions.  The fraud is getting so convincing.  I also try to get into the property and measure everything if its vacant, so I can have all my renovation plans ready the day of closing.  Make as many big decisions ahead of time and save time after close.  But also plan for surprises

Catherine Emert · Answer

Read your prelim VERY carefully, get a home inspection and know everything you can that is wrong with the home. Do a final walk through day of or day before closing. Ask ALL the questions you can think of - any current repairs they've done, were any needing to be permitted, did they hire a licensed/bonded contractor to do them. The next 14 days is your chance to get all the info.