Congratulations on having an accepted contract on a house, but now what? Once we have an executed contract (Meaning all parties have signed all documents), we then have an enforceable contract. Once a signed contract is received, several things need to happen. It will be a hectic 10 days or so but be assured, we are right there with you guiding you through the process.
- The contract needs to be sent to your mortgage lender. We will take care of this for you. This allows your mortgage lender to know that you’re under contract and starts the process of getting you approved for the mortgage (remember, right now, you’re only pre-approved). Be sure to respond promptly to your mortgage lender. They will ask you to fill out a lot of paperwork. Some mortgage lenders joke it’s like getting a financial colonoscopy. Unfortunately, it’s not optional; it’s required, and the quicker you can fill it out and get it back to them, the better.
- You need to schedule the home inspection. Click here for my list of recommended home inspectors. This needs to be done ASAP.
- You need to write and drop off the deposit check. Typically the deposit check is made out to the seller’s agent’s brokerage and is either in the form of a personal check or a certified check (we’ll let you know which one you need). Per the Louisiana Mandatory Contract, it is dropped off at the seller’s agent’s office within 72 hours of contract acceptance. When you drop it off, make sure you take a picture with your phone and send it to us as well.
After the above items have been done, we will email you every few days with an additional next step. Think of it as our friendly way of giving you homework to ensure a smooth transaction and to help you make sure everything gets done on time.
Next, Step 8: Drop Off The Deposit Check