Once we have an offer accepted and we've reviewed the home inspection report and negotiated any necessary repairs, we'll be ready to move forward to the next step!

At this point, we'll give your lender the green light to order the appraisal on the house. One of the benefits of having the appraisal done (which the lender will require anyway) is that it adds a layer of protection for you from paying more than the house is worth. If the lender's appraisal comes in below the contract price, you'll have the option to cancel the contract and have your Earnest Money deposit refunded. But usually we'll ask the seller to lower the contract to whatever price the appraisal comes in at, and then move forward with the contract at the reduced price.

Once the appraisal comes back, we'll have jumped most of the biggest hurdles to getting to the closing date. During this time leading up to the closing, I'll be working with the listing agent, closing attorney, and lender to make sure everyone is on the same page and stays on track to close on time. The lender will probably be requesting additional documents and paperwork from you during this time as well.

As we get close to the closing date, we'll be sending you information on all of the utility companies for the home so you can have them set up to change over to your name on the day of closing. We'll also schedule a time (usually a couple of hours before closing) for us to go by the house and do a final walkthrough to make sure everything is in the same condition as when we last saw the home.

In the next page we'll go over over the final step in the home buying process—the closing day!