After working your way through the selling process you’ve finally accepted an offer, so now what? This can be answered in many different ways pending on each selling experience and the current condition of the house. If the seller doesn’t request any repairs be made prior to closing, then you take a breath and skip this step, however, if repairs are requested by the buyer, which in most cases they are, then you can choose to do one of the following:
#1 – You may be asked to fix the repairs yourself out of pocket
#2 – You may want to decrease the selling price to compensate for repairs
#3 – You may offer to pay a portion of the closing costs to compensate for the cost of the needed repairs
#4 – The buyer may want to back out of the sale-this is contingent on the purchase agreement
#5 – You as the seller may want to back out of the sale
#6 – Ultimately both parties will negotiate until a price and/or repairs are agreed upon and finalized
Up next will be scheduling your Appraisal and Home Inspection, pending on availability, this generally will take anywhere from 7-14 days to be scheduled and completed. You will be asked to vacate the property while these inspections are being completed, they are generally fairly lengthy and take anywhere from 2-6 hours to complete pending on the size, location, and condition of your home. As long as your appraisal and inspection both come back without any issues then you are ready to get packing!
Related: A Guide to Selling Your House Part 2
As far as utilities are concerned, it is the buyer’s responsibility to move all utilities into their names, so you simply have to call and provide the companies with your close date but will not need to set up any new accounts or transfer names.
The only thing left to do now is to wait for escrow to close and hand over your keys. Keep in mind that in most scenarios, even after you’ve accepted an offer, completed negotiations, and both parties have agreed on the final details, the average time for a home to close is 45 days. While pre-packing and preparing is always recommended, accepting an offer doesn’t mean you need to be out of your house overnight. You’ll have plenty of time to clean, pack, and get ready for your next move.