What Happens After You Go Under Contract? A Buyer’s Guide
Going under contract on a home is an exciting milestone—especially in Swansboro, North Carolina, where coastal living, waterfront communities, and charming neighborhoods make buying a home truly special. But once the offer is accepted, many buyers ask: What happens next?
Step 1: Earnest Money Deposit
Once you are officially under contract, the buyer typically submits an earnest money deposit. This shows good faith and commitment to the purchase.
Step 2: Home Inspection
Buyers in Swansboro and coastal NC should schedule inspections promptly, paying special attention to moisture, salt-air corrosion, and crawlspace conditions.
Step 3: Appraisal
If using a mortgage, the lender will order a home appraisal to verify the home’s value supports the purchase price.
Step 4: Buyer’s Due Diligence Period
North Carolina contracts include a due diligence period, which allows the buyer time to complete inspections, review HOA documents, secure financing, and decide whether to move forward.
Step 5: Title Search & Insurance
A title company or real estate attorney will perform a title search to ensure no liens on the property, clear ownership, and proper legal description.
Step 6: Homeowner’s Insurance & Flood Insurance
Because Swansboro is a coastal community, homeowner’s insurance and flood insurance are extremely important.
Step 7: Final Walkthrough
Shortly before closing, the buyer will complete a final walkthrough to ensure agreed-upon repairs are completed and the home is in the same condition.
Step 8: Closing Day
Closing typically takes place at a real estate attorney’s office. Documents are signed, funds are transferred, the deed is recorded, and keys are released. Congratulations—you’re officially a homeowner!
Vanessa Justice | 252-503-9313 | [email protected]
