Melissa Wiegele
Coldwell Banker Realty

SELLER Accepted Offer, What's Next?

Accepted Offer, What’s Next?
 
 
Congratulations you just got an accepted offer on your home. What's next?
 
The next step is getting your home appraised and inspected.
 
First up is a home inspection. The home inspection tells you if the home has any issues and or defects. Inspections aren’t always required, but most buyers elect to have one even if they are not getting a loan. Inspections normally are 2-3 hours in length. The reports are usually sent to the buyer within 24 hours of the completion of the inspection. We have a time limit for this to be completed. We must have the inspection and the items the buyer is are for negotiated by the time allotted in the contract. For the inspection you will receive a showing request just as you normally do for regular showings. I suggest you follow the same instruction for the appraisal as you would for normal showings which includes vacating the home for that time frame. 
 
If you have a Well and/or Septic System you as the seller are going to need a Well Inspection, Septic Inspection and Water Test. Those can be completed by the normal company you use to service your well and septic or you can use one of the inspectors that we recommend listed below. A large majority of the time you are asked to have the Septic pumped at the time of the inspection. That can also be completed by your normal pumping company or ask the inspector to perform that service when you call to make the appointment. Well and Septic Systems need to be compliant in order to sell as well as having safe drinking water is very important. Water tests must test for Bacteria, Nitrates, and Arsenic. These need to be complete by time allotted in the contract. If you let your inspector know it is for a home sale they will be happy to help you understand what is needed. Its good to note that water tests take time so please schedule your inspectors as soon as possible to stay within our timelines. 
 
Inspectors:
A Well Pump Guy (Kurt & Pat) -  1-866-675-8443 or 715-222-1168  www.awellpumpguy.com
Marko Septic - 715-749-3404 - http://markoseptic.com
Bird Plumbing (Sean) - 715-246-4516
Darrell's Septic Service - 715-425-1025 (Pumping Only)
 
In most cases the lender will require your house be appraised by a professional, whom is provided by the lender. The appraisal gives the buyer a detailed report on the value of the home. If the home’s appraised value is less than the purchase price, renegotiations with the buyer are most common. A lender normally won’t give a loan for more than the appraised value. You most likely will not be told the value your home came in at. The norm is for the lender to say “it came in at or above value.” Reason for this is because the appraisal was paid for by the buyer. If the appraisal was to come in low, they would then provide us proof of that. For the appraisal you will receive a showing request just as you normally do for regular showings. I suggest you follow the same instruction for the appraisal as you would for normal showings which includes vacating the home for that time frame. The deadline for this contingency is also in the contract.
 
Looking for a copy of the contract? You should have received an email from our Transaction Management System with login information. This is a system we use to keep track of documents within the transaction. You have 24/7 access to all documents for the next 5 years. If you ever are in need of a document you can easily login to retrieve those. If you forget your login or need a document just let me know or email fdhudson@cbburnet.com and our Front Desk can resend. We can always provide that to you as well. 
 
Utilities
Its a good time to start thinking about who your utility providers are so you are able to make phone calls to end your service.
 
If you think of any questions please let me know!
Minnesota
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