Congratulations! You’re under contract.
In the next 24 hours, a few things will happen.
First, you’ll want to write the checks or wire the money to secure your contract. There are two amounts.
#1. Option Fee-this purchases you your option period, during which you can terminate the contract for any reason or no reason.
#2. Earnest Money-the larger amount that secures your performance under the contract.
You’ll receive a call and/or email from Emma shortly after going under contract confirming the amounts and whom they should be made out to.
Second, you’ll want to schedule a home inspection. You can read the post with some recommended inspectors as well as some notes on what to expect during inspection here.
In regard to your earnest money and option check, an important note.
Wiring Fraud Warning: This one’s important! Your funds are very much secure in the hands of the title company, but not if a scam artist tricks you into wiring them elsewhere! There are some unscrupulous characters out there who may send an email, posing as your title company or agent, instructing you to wire funds into a different account. To protect you from this kind of behavior, please be advised of the following.
We, your agents, will never provide you with wiring instructions. Wiring instructions will come from the title company written in your contract who is acting as escrow agent. To further verify that wiring details are correct, we encourage you to call the title company at the number on their website to verify, NOT the phone number provided to you in the wiring instructions email, should those two phone numbers differ.
We’re excited to be working with you! Congratulations on your new contract. Now let’s get to work.