Here is how things will go from here. This process could take 30-45 days

Day 1 – Accepted Offer! >>> Title Commitment, Survey etc. Lender is notified of Purchase
● Title company researches your purchase to ensure it can be bought & sold
● Lender now has a home to attach to the mortgage
● A survey may be in order to establish what you’re buying

Day 1 thru 3 – Earnest Money Deposit >>> (EMD) Good Faith Funds +/- $1000. Which is a
credit to the buyer towards Down Payment
● Once the Purchase Agreement is signed the buyer has 48hrs to present the EMD
● Titlework is being examined

Day 1 thru 10 – Inspections $350 (10 Calendar days to complete this step)
● Buyer must perform and respond to inspection within (10) calendar days of fully
executed Purchase Agreement
● Titlework is being examined

Day 10 thru 15 – Release Inspection Contingency/Repair items. Alert lender as to progress
● Buyer releases inspection contingency or repairs are made/scheduled per contract
● Titlework is being examined

Day 15 – Appraisal is ordered.
● Since the house meets the inspection standard the appraisal is ordered by bank
● The appraiser is there to establish adequate value for the bank. Is the home worth what
the bank is lending to you. That’s their primary function not market value.
● Titlework is being examined

Day 20 – Value is rendered or not. Repairs are required or not (FHA, VA, RD)
● FHA, VA and RD mortgage appraisals may require additional safety requirements
● Title commitment is delivered

Day 20 thru 25 – Underwriting >>> Conditions >>> Final Conditions
● Purchase documents, Appraisal and Completed Titlework etc is delivered to underwriter
● Underwriter reviews and request any required updates to file
● Final Conditions are requested and met by all parties

Day 25 thru 30 – Clear to close the purchase >>> TRID >>> CD’s issued and signed by all
● Final Closing numbers are reviewed and accepted by all parties involved

Day 30 – Closing is scheduled for exact date and time with buyer and seller
● Upon acceptance all parties involved agree on date and time that all documents will be
signed and the property will legally be exchanged to the new owner

IMPORTANT: Do NOT do anything to impair your credit or reduce cash on hand during the “Pending Process”!!!