Business Magazine

5 Things That Happen After Your Offer Is Accepted

By Knoxvillehometeam @KnoxHomeTeam

Once your offer has been accepted, the home buying process isn’t quite over…yet. It’s really just beginning. Once an offer has been accepted, that’s when you get into the real nuts and bolts of buying a home.

Here are 5 things that happen after your offer is accepted on a West Knoxville home.

Get A Home Inspection

A home inspection is one of the most important things that you will do after your offer is accepted on a West Knoxville home. A home inspection will allow an inspector to look a home over and see if there are any major issues.

If a home inspection does find any major issues, you’ll be able to negotiate with the seller about repairs. This gives you the opportunity to address any issues in a home before you buy it.

If a home inspection finds issues that are larger than what you want to take on, you’re able to walk away from the transaction and still get your earnest money back. This is a very important part of the home buying process since it will allow you to “kick the tires” so to say before buying a home.

Apply For A Loan

After your offer is accepted, you’ll need to officially put in your loan application. At this point, you may be required to provide any additional documentation to your mortgage company. The contract will require you to put your loan application within a certain number of days.

You will also probably be required to put down some money for the appraisal and your credit report. These items are required to usually be paid up front by your mortgage company. The price can vary from lender to lender.

Shop For Homeowner’s Insurance

Homeowner’s insurance will be something that you need to square away prior to buying a West Knoxville home. If you’re getting a loan, you’ll be required to carry homeowner’s insurance. And, even if you’re not, homeowner’s insurance is an important asset.

Generally, you’ll save the most money if you combine your car insurance with your homeowner’s insurance policy. So, if you’re not completely happy with your current car insurance company, this would be the time that you need to shop for a new insurance company.

Set Up Utilities

Every Knoxville utility company is a bit different about the time periods of when they will let you turn on utilities.

Many utility companies will allow you to set up utilities by just showing a copy of the signed purchase contract. It’s important that you check with your utility companies to see what their requirements are. Some will require you to go in person and put down deposits, while others will allow you to do it over the phone or online.

In addition, you’ll want to make other arrangements to turn on other services like cable or your trash pickup. These items can often be overlooked in the chaos of a move.

Wait

Finally, once you get to the end of the home buying process (about a week before your move), there is a period of time where you just have to sit back and wait. With closing on the horizon, once all is said and done, you’re just left waiting for everyone else to finish up the last minute stuff.

You’ll receive a copy of your closing disclosure at least 3 days prior to closing. Be sure that you review it when you receive it and sign off on it. Should you have any questions, be sure that you address them prior to closing.

Other than that, there’s not much to be done until your close date. Still, there’s nothing wrong with asking for an update from your realtor or loan officer if you get nervous about how things are progressing.

Are you thinking about buying a West Knoxville home this year? Please let us know if there is any way that Knoxville Home Team can assist you. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at [email protected]. Also, be sure to check out our West Knoxville Home Search Page.


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Big Food Giants Manipulate Public Health Policy in China

    Food Giants Manipulate Public Health Policy China

    Coca-Cola is at it again. As soda sales decline in the United States and Europe, beverage companies look to emerging economies like China for growth. And, it... Read more

    The 15 January 2019 by   Dietdoctor
    DIET & WEIGHT, HEALTH, HEALTHY LIVING, MEDICINE
  • Jewellery for a Precious You

    Jewellery Precious

    Jewellery is always close to a woman’s heart. It completes her look and boost confidence. Considering the changing trends in jewellery fashion, it becomes... Read more

    The 15 January 2019 by   Dr.jenifer Sayyed
    LIFESTYLE
  • Rajshri Productions’ Next Is A Film On Friendship | Hum Chaar | Trailer

    Abhishek Dixit’s debut feature film Hum Chaar is a Bollywood film made under the banner of Rajshri’s film. Hum Chaar is written and directed by Abhishek Dixit. Read more

    The 15 January 2019 by   Themoviean
    ENTERTAINMENT, MOVIES
  • Saint Paul the First Hermit

    Saint Paul First Hermit

    Today is the feast day of Saint Paul the hermit. This is a sweet and delicate Oatmeal Bread topped with rolled oats and naturally sweetened with agave. Saint... Read more

    The 15 January 2019 by   Veronica46
    FOOD & DRINK, RECIPES
  • Irupathiyonnaam Noottaandu | Teaser | Pranav Mohanlal | Arun Gopy

    Arun Gopy’s Irupathiyonnaam Noottaandu is an upcoming Malayalam action-drama feature film starring Pranav Mohanlal and Zaya David in the lead roles. Read more

    The 15 January 2019 by   Themoviean
    ENTERTAINMENT, MOVIES
  • A Year Of Body Positivity

    Year Body Positivity

    Last January, as I sat there on New Years eve all set to make the same old resolutions I've made year after year for as long as I can remember, I realised how... Read more

    The 15 January 2019 by   Sparklesandstretchmarks
    DIARIES, SELF EXPRESSION
  • Garden Bloggers Bloom Day – Jan 2019

    Garden Bloggers Bloom 2019

    Euphorbia rigidaWhen I went out to take the photos for this blog post I was surprised at how much was in flower dotted around the garden. Read more

    The 15 January 2019 by   Patientgardener
    GARDENING, HOME