Long Island Sellers Ask ~ Now that We Have An Offer, What Happens Next?
Our North Shore Of Long Island Sellers Ask ~ Now That Our House Has An Accepted Offer, What Is The Next Step?
Once we have presented the offer and you have accepted it, the very next step will probably be the buyer scheduling an inspection on the house. If the buyers are getting a mortgage, the lender is going to want to make sure the money they are loaning will appraise for the amount they are going to loan.
Here On The North Shore of Long Island, the home inspection usually takes place approximately 3 days after the offer has been accepted. Besides the Home Inspector, the buyers should be there so that the Inspector can go over any repairs that may be needed, and usually the buyers agent will also attend. When representing you as the seller, we usually attend the Home Insepction on your behalf. You the homeowner is not needed during this process, although no one is going to ask you to leave.
Depending on the size of the house or condo, the home inspection usually takes an 1 1/2 to 3 hours. If after the inspection the buyer is notified that corrections or repairs are needed, the seller must decide which repairs they will complete to satisfy the buyer’s concerns.
The home inspection is to discover items that are not in working condition as far as acceptability of the home. The repairs are usually made before the closing, or at closing a dollar amount may be exchanged to offset the cost of the repairs.
The inspection process is the next step after an offer has been accepted here on The North Shore Of Long Island, and is designed to give the buyer a clear picture of what they are buying in terms of the home’s condition.
Lawrence & Sheila Agranoff
Cell: 631-805-4400
Search Here For Long Island Homes and Condos
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