Watch the full video, Under Contract: Buyer Edition, on the Navigate Realty YouTube channel.
Congratulations, your offer was accepted and you are officially under contract on a house! After the excitement wears off, most buyers ask the same question: what happens next?
Step 1: Deliver Your Earnest Money
The very first thing you will do after going under contract is deliver your earnest money. Earnest money is the good-faith deposit that shows the seller you are serious about buying their home.
Ann recommends that her clients use certified funds. You have two easy options:
Send a wire to the title company.
Get a cashier's check from your bank and drop it off at the title company.
Certified funds keep your earnest money secure and help your transaction start off on the right foot.
Step 2: Watch Your Inbox and Review the Seller's Disclosures
Once you are under contract, expect a lot of emails. If you are getting a loan, your lender will send documents, and you will also receive disclosures about the home.
When you work with Ann and the Navigate Realty team, nothing gets lost in the shuffle. Anytime the team emails you something to sign or complete, they also send a text: "Hey, check your email. We just sent you this, and here's what it's about."
The Seller's Property Disclosure
The seller's property disclosure tells you what the seller knows about the home and what work they did while they owned it. Some sellers share only the basics. Others include a ton of detail, and as Ann says, "those are the sellers we love."
Ann sends the disclosure to your home inspector. That way, if the seller fixed or updated something, the inspector can confirm the work was done correctly.
The Square Footage Disclosure
For the square footage disclosure, agents typically check the county assessor's records for the home's square footage. That number goes on the disclosure, and you review and accept it.
After you look through each disclosure, you will sign it and your agent will return it.
Step 3: Schedule Your Home Inspection
The home inspection generally happens 7 to 10 days after you go under contract. You will hire a professional home inspector, who will likely spend three to four hours at the property.
Should you attend the home inspection?
You do not need to stay for the whole inspection. Ann does ask her buyers to be there for the last 45 minutes to an hour. Here is why:
You have probably only seen the home once or twice before making an offer.
It is a great chance to look around again and picture your life there. Will the couch fit? What do you need to order before move-in?
You can hear the inspector's top concerns firsthand.
Understanding your inspection report
Afterward, you will receive a large, detailed report. Focus on what the inspector calls out as the most important items. If you have questions, call your inspector and talk it through. A good inspector is happy to explain their findings.
Step 4: The Appraisal (Timing Matters)
If you are financing your purchase, your lender will order an appraisal to confirm the home's value. The timing of that appraisal can protect your wallet.
Ann makes sure your lender does not order the appraisal until the inspection is resolved. If something comes up during inspection and you decide not to buy the home, you will not have paid for an appraisal on a house you are not purchasing. The lenders Ann works with generally wait until the home inspection is complete before ordering it.
Step 5: Hurry Up and Wait
With the inspection and appraisal handled, things slow down. Ann calls it a "hurry-up-and-wait" situation. Use this time to:
Pack and get organized for moving day
Stay in touch with your lender and respond quickly to any requests
Keep an eye on your email (and those helpful texts from your agent)
Step 6: Always Do a Final Walkthrough
Even if the house is perfect, Ann's advice is simple: always, always, always do a final walkthrough before closing.
The final walkthrough confirms that:
Nothing has happened to the home since your inspection
Nothing has been hidden from you
The house is in the same condition as when you agreed to buy it
Short on time? If a client says they don't need a walkthrough or can't fit one in, Ann will go to the property herself and record a video so they can see it. Even with a post-closing occupancy agreement, where the seller stays in the home for a period after closing, you still want to do a walkthrough.
Step 7: Closing Day
You made it to closing! If you have a loan, your lender sends their funds to the title company ahead of time.
Your portion, often called your cash to close, should be wired a day or two before closing. That way, all the funds are in place on closing day and nothing holds up getting your keys.
Frequently Asked Questions
What does "under contract" mean when buying a house?
It means the seller accepted your offer and you both signed a purchase contract. The home is not yours yet. You still need to complete steps like the inspection, appraisal and closing.
How should I pay earnest money in Colorado?
Ann recommends certified funds: either a wire to the title company or a cashier's check from your bank dropped off at the title company.
How long does a home inspection take?
Most home inspections take three to four hours. You do not need to stay the whole time, but plan to attend the final 45 minutes to an hour.
Why wait to order the appraisal until after the inspection?
If the inspection uncovers a deal-breaker and you walk away, you avoid paying for an appraisal on a home you are not buying.
Do I really need a final walkthrough?
Yes. Even if the house seems perfect, the walkthrough confirms nothing has changed or been hidden since your inspection.
Ready to Buy a Home in Colorado?
Going under contract on a house is exciting, and having the right agent makes every step smoother. The Navigate Realty team keeps you informed from earnest money to closing day, so you always know what comes next.
Thinking about buying in the Denver metro area? Contact Navigate Realty to connect with an agent who will guide you all the way home.
Watch Ann's full video, Under Contract: Buyer Edition, on the Navigate Realty YouTube channel.
