You’ve negotiated price and terms and either the Seller accepted your offer or you accepted their counteroffer or vice versa. You are now officially Under Contract and the contract “clock” is ticking.

 

The negotiated REPC (Real Estate Purchase Contract) has established how much time the Seller has to get the Seller’s Disclosures to the Buyer and how much time the Buyer has to inspect the home, appraise the home, get final loan approval and then do the closing in order to set the wheels turning to transfer ownership of the Salt Lake City home from Seller to Buyer.

 

One of the first things to happen once you go under contract is the contract is distributed to the buyer, seller, title company(s), lender, Realtors^® and their brokers. The Buyer’s earnest money check is also deposited into a trust account.

 

The Buyer should be communicating with their lender right away. The buyer should fill out the applications and submit all the paperwork that the lender needs in order to get the mortgage rolling.

 

Also, at this time the Buyer should discuss and prepare to lock the interest rate on their loan. Interest rates are constantly moving up and down. Discuss this with your lender.

 

Some of the other immediate steps the buyer will take are hiring a Home Inspector, Examining the Seller’s Property Condition Disclosures, the Preliminary Title Report and checking on the availability and price of home owners insurance.

 

There’s more to it than this and that’s a big part of why it makes sense to hire an experienced Salt Lake City Realtor^® to help you through this.

 

If your plan is to move from one home to another, just putting your home on the market isn’t enough. Your home will need to be ready to show and you’ll need a strategy to accomplish the sale and purchase of another home in a reasonable time frame.

 

With 10 years selling homes in metro Salt Lake and 20 years in the real estate business, I have many strategies and an in depth understanding of what it takes to help you sell and buy another home. Call or email me if you’d like to take advantage of this opportunity!

 

Contact SLCHomeBuyer and Kevin Coyle

 

 

 

 

 

 

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This provided information is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective homes, condos, and real estate consumers may be interested in purchasing. Information is deemed reliable but not guaranteed accurate. Buyer to verify all information. Maps are approximate. Statistical data and calculations shall be confirmed by consumers prior to making a purchase or sale of real estate in Utah. Loan calculations and estimated payments are provided as an estimate and do not consitute an offer to lend money. The multiple listing information is provided by Wasatch Front Regional Multiple Listing Service, Inc. from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2012 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved.