Hooray!

Now that the home inspection is complete, you will receive the home inspection report in your email if you have not already.  The next step is to request items from the report that you would like the seller to fix before you purchase the home.  Keep in mind that the offer was made based on what we already knew. 

Fantastic news- the appraisal has been ordered.  What is an appraisal?  It is a non-biased third party that comes to the home to look, measure, take photos, and complete a thorough analysis to give the home a value based on recent, comparable sales.

Everything is coming together!

Shortly after the appraisal is back, the lender will issue the Consumer Disclosure (CD) and needs the buyer(s) to acknowledge they received it to start the 3 business day wait, which is a federal requirement, and allows the buyer(s) to sign on the 4th business day (signing is sometimes used synonymously with "closing" and can create confusion since you don't OWN the property until it records the business day AFTER the buyer signs or otherwise agreed upon date).  At this point, it is time to change over the utilities to the buyer's name from the seller's name for the recording day.

Closing day is the day the final documents are signed at the title company.