What Happens After Your Offer Has Been Accepted? 5 Immediate Things You Need to Do
So, you’ve found the home of your dreams and your offer has just been accepted. Congratulations! Your journey to owning your new home has officially begun.
If you’re wondering what happens next, here are five immediate things you need to do after your offer has been accepted to get things moving.
- Provide Confirmation
Once your offer has been accepted, your estate agent will likely give you a congratulatory call. But this won’t just be a courtesy. They’ll also request confirmation of a few things so they can finalise the offer.
You’ll usually need to provide confirmation of things like:
You have the funds available to make the purchase
Your mortgage in principle
You have a solicitor – or you’re working to get one now
- Remove Competition
Normally, estate agents will cancel viewings and take the property off the market as soon as your offer has been accepted. However, you’ll want to make sure this is definitely the case.
Remove the competition immediately and ask your estate agent to cancel any scheduled viewings and to take the property off the market. If the listing isn’t taken down, you could be at risk of getting outbid or even gazumped.
- Instruct Your Solicitor
There’s no better time to get the ball rolling than after your offer has been accepted. For a quicker sale, you’ll want to instruct your solicitor as soon as possible. If you haven’t already found a solicitor, ask your estate agent for a recommendation.
At this stage, your solicitor will start completing the checks and searches on the property. Depending on the solicitor, they may also ask you to pay up-front for some of their services.
- Complete Your Mortgage Application
Since the mortgage in principle was a principle agreement, you’ll need to complete a full application for the money now that your offer has been accepted. You’ll need to apply for the exact amount you need to borrow for the property in question.
If you have a mortgage advisor, they’ll guide you through this process and let you know what information you need to supply.
- Arrange a Survey
While surveys aren’t compulsory when you buy a new home, they’re a good idea. During a survey, a professional surveyor will inspect the property and cast an eagle eye over the place. Surveys can help you understand any current or future issues you may have with the property.
To arrange the survey, you’ll need to speak with your estate agent about booking time with the sellers.
Still looking for a Home?
If you’re still looking for your new home, WPR could have what you’re looking for! Check out our listings or let us know what type of property you’re interested in so we can help keep an eye out for you.