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On this episode of our Seller's Library, we will talk about what it means to be "Under Contract" (aka Having and Aceppted Offer).
✔️ Subject Time. There is a period of time where the buyer will be suject to things like the next point (financing).
✔️ Financing. Even if the buyer is pre-approved, the bank still needs to approve the property they are buying.
✔️ Home Inspection. Even if you take care of your home, as homes age, things may need to be repaired.
✔️ Viewing Legal Documents. There are a few documents the buyer is going to want to see upon the purchase of your home.
✔️ Site Survey. Quite often a buyer will request a site survey, and this can also be something the bank asks for as a condition to financing.
✔️ Appraisal. Financing can also be dependant on the appraisal so you can almost expect an apprasier to come through and look at the home and property.
✔️ Insurance. The buyer cannot get financing or the funds realeased from the bank until the hosue in insured.
✔️Municipal Documents. You may need to view documents at city hall.
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