After a home goes under contract, there are a few things that must happen before the sale is complete.
After a home goes under contract, there are a few steps buyers and sellers need to go through before the sale can officially conclude.
The first thing that happens after a home goes under contract is that the contract itself is provided to all parties involved, including an attorney. Once that happens, buyer and seller information sheets are distributed from the attorney’s office. It’s very important that you secure your information if you’re sharing it with an attorney, so ask your agent about safeguarding against wire fraud. This is also important when you exchange funds later on in the process.
Next, inspections are ordered. Someone can order a general inspection, structural inspection, termite inspection, and several others depending on the property. After those are finished, the buyer typically makes repair requests to the seller. In North Carolina, the seller isn’t obligated to make those repairs, but they are in some regard in South Carolina. Here in Charlotte, you can be on either side of the border, so ask your Realtor about the next steps to take from this point.
Also, make sure you meet the deadlines stipulated in your contract. Your Realtor will help guide you through these and advise you on specific costs. Ultimately, we agents want a win-win scenario for everyone involved—that’s what we work toward in every transaction.
After that, we move to the closing period, where we review all of the numbers and make sure the math is correct and all payoffs are taken care of.
If you have any questions about this or any other real estate topic or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.