1. Celebrate Responsibly: It's a Major Accomplishment

Take a moment to acknowledge and celebrate this significant achievement. Buying a home is a major accomplishment, and being under contract is a substantial step in the right direction. However, it's crucial to remain focused on the tasks ahead to ensure a smooth closing process.

2. Open Communication: Stay in Touch with Your Real Estate Team

Maintain open communication with your real estate agent, mortgage broker, and any other professionals involved in the transaction. Regular updates will keep you informed about the progress and address any potential issues promptly. Ask questions and seek clarification if needed; a transparent line of communication is key.

3. Schedule a Home Inspection: Digging Deeper

One of the first tasks after going under contract is scheduling a home inspection. A professional inspector will assess the property's condition, identifying any potential issues. This information is vital for negotiations, ensuring you are fully aware of the property's condition before finalizing the deal.

4. Address Inspection Findings: Negotiate Repairs if Necessary

If the home inspection reveals any issues, work with your real estate agent to negotiate repairs with the seller. This step ensures that the property meets your expectations and aligns with the agreed-upon terms. Clear communication between both parties is essential during this phase.

5. Secure Your Financing: Finalize Your Mortgage

Now that you're under contract, it's time to solidify your financing. Work closely with your mortgage broker to finalize your loan details and secure your mortgage commitment. Be responsive to any requests for additional information to keep the process moving smoothly.

6. Complete Appraisal Process: Confirming Property Value

The lender will typically require an appraisal to confirm the property's value. If the appraisal aligns with the agreed-upon purchase price, you're one step closer to closing. If there are discrepancies, be prepared to renegotiate with the seller or provide additional information to support the property's value.

7. Review Closing Documents: Understand the Paperwork

As the closing date approaches, you'll receive a stack of documents to review and sign. Take the time to understand each document, seeking clarification on any terms or conditions you find confusing. Your real estate team is there to guide you through this process.

8. Conduct a Final Walk-Through: Ensure Everything is in Order

Shortly before closing, schedule a final walk-through of the property. This ensures that any agreed-upon repairs have been completed, and the property is in the expected condition. If any issues arise during the walk-through, address them promptly with the seller.

9. Prepare for Closing: Tie Up Loose Ends

As closing day approaches, tie up any loose ends and prepare for the final steps. Ensure all necessary funds are in place, and be ready to sign the closing documents. Your real estate agent and closing professionals will guide you through the process to ensure a smooth and successful closing.