You got your home offer accepted, now comes the home buying process.

Depending on your agreements and contingencies in the purchase and sale contract there are certain inspections and processes you need to take. Generally you are given a few days to apply for the mortgage or home loan, apply for association or condo approval and make your earnest money deposit.

Remember that you must abide by the timeframe which is structured in the sale and purchase agreement, or you can be risking your escrow deposit.

Hopefully by now you have consulted with several mortgage broker and lenders and have a good idea where you are going to apply for the mortgage. Get all your documents along with a copy of the signed and executed purchase contract for you lender.

In most real estate contracts there is an inspection period. Depending on your negotiated terms you can conduct a general inspection, including plumbing, electrical, structure, roof, foundation, and mold. You should have included contingencies in the home offer which allow you to walk away if the inspection reveal hidden damage or faults.

Lets continue to the next steps!