Selling your home can be a nerve-racking process. After all, a lot hinges on the sale, such as the time frame of when you can move or when you can purchase a new home. You spend many hours keeping your home in show shape, cleaning, picking up, and making sure everything is in its place. With every showing, you hope you get an offer. Time seems to drag, until one day, an offer is received! A weight seems lifted from your shoulders. But now what?
Lisa Johnson Mortgage Services in Prince George can help. As a top-rated mortgage broker, we help people buy homes, refinance existing home, or take out a home equity loan or line of credit. With over 25 years of experience in the real estate and mortgage business, Lisa Johnson can help. Below, we’ll explain what happens after the offer is received. Contact us today for all your home mortgage needs!
WHAT HAPPENS AFTER THE OFFER
After an offer has been made, the real work begins. There are still many steps in the home buying process, and a misstep can happen at any time along the way.
A Home Inspection
After an offer on your home has been made and accepted, a home inspection is scheduled, as well as possible other inspections, such as septic systems. A home inspection is where a certified home inspector comes in and goes through your home with a fine toothed comb, meaning that he or she will be looking for anything wrong with your home, from a leaky faucet all the way to structural damage in the basement. If any major damage is found, this could be cause for renegotiation or a withdrawal of the offer.
After an offer has been made and accepted on your home, an appraisal will be ordered that will be performed by an independent certified appraiser. This can be a huge hiccup in the process because if your home comes in undervalued and your buyer offered substantially more than the appraisal, the buyer may not qualify for the loan, or they may withdraw their offer or try to renegotiate the price. Lenders usually won’t lend over the stated value of the home in the appraisal, except maybe by a few percentage points in some instances.
Qualifying for the Loan
Now that there is an official amount on the table with an accepted offer, the buyer or buyers must now qualify for that amount. A prequalification stated the buyer would qualify for that amount as long as it was within their budget. However, Lisa Johnson at Lisa Johnson Mortgage Services sees quite often things arising that weren’t caught before, such as unreported debt or a change in financial conditions of the buyer. This could preclude the sale of your home as well.
HOW LISA JOHNSON CAN HELP WITH MORTGAGE BROKER SERVICES
One thing is for sure in the home mortgage process: nothing is a done deal until the ink has dried. Having an offer is not the end; it’s only the beginning. Contact Lisa Johnson Mortgage Services in Prince George for stellar home mortgage solutions!