Buying a Home: You have an accepted offer, now what?!

We've been discussing the process of how to buy a home, see our previous posts here. 

Congratulations! Now that you have an accepted contract, you're moving onto the next steps in owning a home. 

First, an inspection. Your Realtor can suggest one for you, but a good inspector should have something that sets them apart. For me and being an agent in Arizona, an inspector who has infrared cameras is important so we can make sure the home is correctly insulated. 

infrared picture- the yellow shows where insulation was missing in the home. Because we found this info we were able to ask the seller to repair the missing insulation- WIN!

Then, depending on the results of your inspection, comes the appraisal. This is where you find the appraised value of the home. The appraiser views the home you're buying and does research on similar homes in the area and what they're offering at various prices. From this information they can determine the value of their home- which is very important info for you, but especially your lender (if you're getting a financed home). 

If all goes according to plan, financed offers go into underwriting. This is your lenders process of you final loan approval. At this stage in the game your lender will be coming to you with any last minute documentation needed. 

Once you're past this stage it's onto signing final docs! Stay tuned for the last installment in buying a home!