Now that you’re under contract, we like to think of this step as being “engaged” to the house. The house is off the market and no longer available to other suitors. Take a deep breath and pop the champagne! But remember it’s not a done deal until closing day. Now you just have a couple more time-sensitive checkpoints or contingencies until you’re officially “married.” These checkpoints will differ based on your specific contract and the local laws, so be sure to ask your Realtor any questions specific to your situation. Here’s an overview of what’s next…
1. Submit your earnest money. The amount due, deadline and recipient should be outlined in your contract. Oftentimes you’ll send this deposit to a title company via a check, wire or online payment.
2. If your Realtor hasn’t already done so with the original offer, submit your pre-approval letter, loan commitment and/or proof of funds to the listing agent within the deadline in your contract.