Next Steps

You did it! You’re under contract and well on your way to homeownership. This document will guide you through the next steps.

1. Inspections

Once a contract is fully executed and all signatures have been obtained, you will have 10 days to hire an inspector to conduct your inspections. The most common inspections are: whole house, termite and radon. You can find a list of local inspectors on our concierge page. Inspections will take approximately 2 ½ -3 hours depending on the size of your home and the inspections that you are performing. This time is for you to see the house again and for your inspector to assess the condition of the property.

Once the inspections are complete, you will submit an Inspection Notice to the seller letting them know that your inspections are complete. You are notifying the seller that you:

1. Accept the property in the current condition
2. You wish to Cancel

or

1. You would like to offer to renegotiate.

Should you offer to renegotiate, you will also submit a “Resolution of Unacceptable Conditions.”

This document will provide the seller with a list of repair requests or possibly monetary compensation in lieu of repairs or both, depending on the outcome of the inspections and what is unacceptable to you. It can be anything that you find to be unacceptable to you.

Once the inspection notice has been received you will have 5 days to renegotiate.

If, after 5 days, you and the seller cannot come to an agreement on a resolution, then either one of you can cancel. It is important that you come to a resolution within these 5 days or the seller may cancel and be free to sell to another party.

2. The Appraisal

Once inspections are complete and a resolution has been reached, your lender will order the appraisal. This tells the lender that the property you are purchasing is valued at the sales price.

3. Re-inspections

Prior to closing, you will have the opportunity to conduct a final walk-through of the property. This is the last opportunity that you will have to see the property prior to closing. If repairs were requested as a result of a resolution, this is your opportunity to see them.

4. Utilities

You will need to call the appropriate utility companies to have service start in your name on the date of possession. As an added convenience, you can find a list of the various utilities companies in KS & MO on our website under Buyer, and “after contract” section.

5. Closing

Once the Appraisal is complete, your agent will schedule a time with the title company to physically close you. Your lender will provide you with the final figures needed for your closing. These funds will need to be in the form of either a cashier’s check made out to the title company or wire transfer. If wire transfer, please notify your agent so that he/she can provide your lender with the wiring instructions for the title company. On the day of closing you will need your drivers license or some official form of ID.

6. Keys

The keys will be disbursed according to the terms of your contract (usually after closing ) and your agent will provide you with the keys.

Congratulations! You did it. You are officially a homeowner.
Now start living the American Dream!