Accepted offer checklist

Congratulations on your accepted offer! Use this checklist to ensure your transaction gets off to a great start!

DO THIS IMMEDIATELY UPON OFFER ACCEPTANCE

• Deliver initial deposit (see below)

• Schedule home inspection (click here for home inspection guide)

• Retain Real Estate Attorney (see below)

• Notify your Lender and make a plan to submit your formal Loan Application on time

• Enter the following important dates from your offer into your calendar:

  • Loan application deadline

  • Home inspection deadline

  • Purchase and Sale Agreement signing date

DELIVER THE DEPOSIT

The first escrow deposit is due as soon as the offer is accepted. The deposit is typically collected via electronic payment (Deposit Link, Earnnest, etc.) In some cases you may be asked to deliver a personal or cashier’s check to the Escrow Agent. Your REALTOR® will advise on how and where to deliver the check. Follow these instructions to write out a deposit check:

Amount:   The amount should match the deposit in Paragraph 1-i of the Contract to Purchase.

Made out to:   Typically the check is made out to the listing agent’s company but the seller’s attorney may also hold escrow. The Escrow Agent is specified in Paragraph 5 of the Contract to Purchase.

Memo:  Reference the property address in the memo.

Copy:   Don’t forget to make a copy of the check for your lender and your  records!

Address: Seal the check inside an envelope clearly marked with the address of the property you’re purchasing (e.g., “Deposit for 123 Main Street”)

RETAIN REAL ESTATE ATTORNEY

Your buyer’s attorney reviews the Purchase & Sale Agreement, watches over all contractual dates and obligations and attends your closing. To esure a smooth transaction, select an attorney who is regularly in the business of real estate conveyancing. Below are some trusted local firms that come highly recommended. Once you have selected your attorney, please connect me so that I can send them all the info they need to open your file.

Julie M. Palmaccio, Esq.
SKM Title & Closing Services PC

Pam S. Stevens
Seder Law