The Exciting Journey from Offer Acceptance to Homeownership

The Exciting Journey from Offer Acceptance to Homeownership

  • Faber Real Estate Team
  • 12/6/23

The Exciting Journey from Offer Acceptance to Homeownership

Congratulations! Your offer has been accepted, and you're now in contract for your dream property. This exciting development is the first step in a series of important actions that will lead you to the keys to your new home. Let's explore what happens next, ensuring you're well-prepared for each stage of this thrilling journey.

Offer Accepted: What's Next?

The moment your offer is accepted is just the beginning. You're now officially in contract, and it's time to gear up for the next steps in securing your dream home.

Embrace the Excitement

It's perfectly normal to feel a rush of excitement at this point. After all, you're on the cusp of owning a new home. Take a moment to celebrate this achievement before diving into the more technical aspects of the process.

Understanding the Escrow Process

Shortly after your offer is accepted, the escrow company will contact you with instructions for making your initial deposit. This is a crucial step in cementing your intent to buy.

The Initial Deposit

In the current market, a 3% initial deposit is standard. For a million-dollar house, this means $30,000, held securely by the escrow company under mutually agreed-upon instructions from both you and the seller.

Securing Homeowners Insurance

Obtaining homeowners insurance is a pivotal step during this phase. It not only protects your future investment but is also often a requirement for moving forward with the purchase.

Appraisal and Lender Involvement

If you're working with a lender, they will order an appraisal report to ensure the value of the property matches the amount being lent. This step is crucial for verifying the collateral value.

Loan Document Processing

Concurrently, your loan documents will be processed. This administrative step requires patience and attention to detail.

Title Report and Insurance

The title company plays a vital role at this stage. They update the title report, ensuring you can obtain a free and clear title, and arrange for title insurance, safeguarding your ownership rights.

Closing Escrow and Moving In

The final stage is the recording of the deed. Once this is done, you are officially the owner of record. You'll receive the keys and can start the exciting process of moving into your new home.

The Key To Your Dreams®

Navigating from offer acceptance to homeownership can seem daunting, but it's a journey filled with anticipation and joy. At Faber Real Estate Team, we're committed to being The Key To Your Dreams®, guiding you through every step of this exhilarating process.


Faber Real Estate Team \ Compass

The Key to Your Dreams ®

Ben Faber DRE #01913767

[email protected]



The Key To Your Dreams ®

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