You’ve made an offer and it’s accepted, congratulations! Now it’s time to navigate the next steps with confidence. TAG will guide you through every detail so you feel supported and informed.
The Initial Agreement & Deposit
Your agreement is the legal framework between you and the seller. Keep everything in writing, counter-offers, addendums, and agreements, so nothing gets lost in translation. We’ll help draft the paperwork and make sure you have copies of everything.
Stick to the Timeline
Once your offer is accepted, a timeline is set for each milestone leading up to closing. Staying on schedule keeps negotiations smooth and ensures neither party is in breach. TAG will keep you updated every step of the way so you always know what’s coming next.
The Closing Agent
A title company or attorney acts as your closing agent. They hold your deposit in escrow, verify that the property’s title is clear, and ensure any new restrictions or encumbrances are properly recorded. Some properties have special limitations, like building or parking restrictions, easements, or encroachments, which your agent will explain.
How to Hold Title
How you hold title affects taxes, estate planning, and legal implications. We recommend consulting an attorney or tax advisor to choose the option that works best for your situation.
Inspections
Once your offer is accepted, it’s time for a licensed property inspector to review the property within the agreed timeframe. You may also choose specialists for areas like the roof, HVAC, or structure. Commercial properties may require environmental audits.
After inspections:
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All clear? Contingencies are removed, and you’re one step closer to closing.
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Issues arise? Your agent will help renegotiate terms, usually around price or repairs.
Appraisal & Lending
Your lender will guide you on the documents needed to approve and fund your loan. If financing is involved, a licensed appraiser determines the property’s value for the lender, based on factors like square footage, building costs, recent sales, and operating income. Stay in close communication with your lender, especially in the two weeks before closing, to ensure a smooth process.
Association Approval
If the property requires association approval, request the rules and necessary documents immediately. Submit forms and fees on time, and schedule any required interviews. Your closing agent will ensure the approval letter is recorded with your deed before move-in.
Property Insurance
Lenders typically require homeowners insurance. You can save money by:
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Choosing a higher deductible
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Asking about discounts for safety features or long-term policies
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Insuring the house, not the land
TAG can recommend trusted insurance agents who understand your property type and will help you get the best coverage at the best price.