Now We're In Escrow
Hey, everybody. Jon Sump here again at The Home Brokerage, bringing you our continued series on the home-buying process, and today's video is on the fact that now you've got your home in escrow, now what?
Well, now a lot of stuff starts. Especially because you're on the buying side, you have a lot of timeframes that you have to adhere to. You got to really get to work on finishing up that pre-approval, you got to get to work on getting the appraisal ordered; whatever inspections you're going to be ordering, whether it be termite, roof, home inspection, pool, whatever that's going to be, typically you have 17 days or less to get that work done, the inspection done, and the reports back and all of that.
So, you really want to get to work on that right away. Make your decisions on what inspections you're going to get, and so you can get that back, so then you have time to do what's called a buyer's request for repairs, if you're going to do that. That'll be up to you and your realtor. Me, typically, I recommend we mainly focus on the health and safety issues, and not the little, little chip of paint on the wall, and stuff like that. You don't really need to worry about that unless you're buying a brand new home.
If you're not buying a brand new home, don't worry about it. Those are simple little things, that you don't want to ruin a deal over minor items. If it's health and safety, you definitely do.
And so, you have those things that are going to be happening. You're going to be going and looking at the house, you're going to be excited as heck, and so, just make sure you kind of keep your excitement down just a little bit, to make sure you make the right decisions when it comes to all these inspections and everything.
Your lender's going to be probably asking for information from you to finalize the approval. Make sure you get it to him ASAP! This is not a time you want to dilly-dally, because there's so many timeframes in the contract, and you can actually have a deal canceled if you don't meet those timeframes. Most people don't understand that, but you can have it canceled.
Hopefully this has been helpful, and if it has, please like and share, subscribe, check out our YouTube channel, all that fun stuff. And as always, make it a great...