1. While under contract we will need to perform our home inspection to ensure that the property doesn’t have any defects or code violations.
2. Also while under contract most real estate contracts will give the buyer a 5-10 day due diligence period in which we will have our home inspected during this time. If we find anything that needs to be addressed from our home inspector then during this time we can negotiate to have the seller repair, provide us a credit, or walk away from the home with no penalty thus getting back your original Earnest Money Deposit.
3. Assuming that all goes well during your inspection period your next steps will be to pay for your appraisal from the lender.