PENDING PROCESS
Watch this quick video of Post-Option Period Steps
POST-OPTION PERIOD STEPS
Now that the option period is over, here’s what happens next:
1. Updated Contract: Any changes to the price, concessions, or closing date will be reflected in the updated contract. Our team will send this updated contract to the lender and title company to keep everyone informed.
3. Appraisal: Once your lender is selected, they will order the appraisal. You’ll need to pay for this separately. The appraisal results will be shared with you but not with the seller.
4. Underwriting: You’ll continue to work with the lender, submitting final documents like bank statements and employment verification. Your goal is to get the clear-to-close before day 21 of the contract.
5. Important Reminders:
- Avoid large purchases like furniture or cars, opening new credit cards, or changing jobs, as this can negatively affect your mortgage approval.
- Be cautious of wire fraud. Only follow wiring instructions from the title company and verify by calling their official phone number.
Throughout this process, we will work with the lender and title company to ensure everything is on track for closing. If you have any questions, feel free to reach out!