My Offer Was Accepted: Now What?

Congratulations, you are on your way to owning your very own home! Here's a guide to know what to expect will happen next in this process.

  • INSPECTIONS AND REPAIRS: After the offer is accepted, the inspection period begins. The inspection is for major items only and is paid at the time of the inspection. Typically this is between $400 and $600, but can vary based on the size and age of the home. Don't know who to choose to do your inspection? No worries! We can provide a list of inspectors for you to research. All home inspectors have to be licensed with the Kentucky Real Estate Commission to perform home inspections.
  • APPRAISAL: Your lender will order an appraisal on your behalf (typically about $500, give or take, and can usually be included in your closing costs) to verify that the value of the home you are purchasing is worth the loan amount that you are asking for. If the appraisal comes back lower than the sales price, we may be able to renegotiate!
  • LOAN APPROVAL AND CLEAR TO CLOSE: Once your loan is approved and we get the clear to close from your lender, you now have Full Loan Commitment and a reason to celebrate!
  • FINAL WALK-THROUGH: This is your chance to get one last look at the property you are purchasing before you close! The final walk-through is when you and your agent make sure all requested repairs, if any, have been made, and that the property is in the same condition it was when you first put in your offer.
  • CLOSING: Closing usually occurs at a title company's office. Your agent will guide you through closing and remind you of what to bring to the closing table the day before. Make sure to bring your driver's license or offical photo ID and a cashier's check to closing made payable to the title company for the down payment and closing costs. After you sign all the required documents from the title company, you will walk out with the keys to your new house! Congratulations!

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