Offer Accepted, Now What?


Once your offer is accepted by the seller it starts the next phase of the transaction. You will be asked for a down payment, typically 1% of the purchase price, on the home you are purchasing which will be held with an attorney or settlement company and applied to the final purchase of your property.

By the time this happens, you have come to an agreement with the seller on the closing date and the contingencies This period is usually 30 days and each item specified in the contract must be completed satisfactorily.

Each contract is different, but most include the following four items:

  1. Inspection contingency: this should be completed as soon as possible after the contract is signed. If the results of the inspection are unsatisfactory you can negotiate repairs or cancel the contract.
  2. Financing contingency: Once the contract is signed, you have a period of time to secure funding. If you are unable to secure funding during the period of time granted to you by the contract (and the seller will not provide a written extension of time), you must decide whether you want to cancel the purchase. This is why being pre-approved before shopping for a property is so important!
  3. A requirement that the seller must provide a marketable title. The title must be "clear" to ensure that you do not have legal issues regarding your ownership. We can help you look into local and state ordinances regarding property transfer and make sure that you and/or the seller have complied with them.
  4. Secure homeowner's insurance. This is almost always required before you can close the sale. It best to apply for insurance as soon as possible after the contract is signed.

If you have questions or are ready to begin the home buying process, just complete the form below, and a member of our team will be in touch shortly!

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Search Listings

Ready to Chat?
Click Here to Schedule a Call

Blog Resources

A Beginner's Guide to Real Estate Investing

Last updated - February 15, 2023 A Beginner's Guide to Real Estate Investing Residential Homebuying READ MORE

Kudos to Big Two Toyota of Chandler

Last updated - September 24, 2019 Kudos to Big Two Toyota of Chandler an Exceptional Car Buying and Customer Service Story So what's a blog about car buying doing on a real estate website? In three words ... "Exceptional Customer Care!" One of our three core company values at Arizona Network Realty is to provide "Exceptional Customer Care and Service" to our valued clients and customers. We ...

READ MORE

Chandler AZ's Orchard Heights

Last updated - June 6, 2019 New Meritage Homes Community in South Chandler Currently in development by Meritage Homes, one of Chandler’s newest up and coming communities for new homes is Orchard Heights — a 19-acre, 60-lot subdivision boasting four distinct, single-level floor plans with contemporary elevations, scenic greenbelts and a private, gated entry. Why Orchard ...

READ MORE

Walking Paths & Outdoor Amenities

Last updated - June 12, 2018 Walking Paths As summer quickly approaches and temperatures rise, enjoying outdoor activities to some may come earlier in the day or later in the evening to avoid the sun and heat. Those who are active and like to walk, jog, or bike and stay within the Lehi Crossing neighborhood, have the option of staying off the street and sidewalks by utilizing the walking/bike ...

READ MORE

Living in Stillwater Cove

Last updated - June 18, 2018 Blog post co-authored with a happy client. South Chandler Living in Stillwater Cove When I moved to Chandler Arizona I knew I wanted to live Ocotillo, a premier golf course resort and lake community in South Chandler's popular 85248 zip code. Not only was I immediately drawn to one of Chandler’s most beautiful neighborhoods, but also was equally drawn in by ...

READ MORE