What Happens After My Bayside Home Goes Under Contract?
Once your Bayside home goes under contract, it can feel like the hard part is over — but there are still important steps ahead. Understanding what happens next helps you stay prepared, avoid delays, and keep the transaction moving smoothly toward closing.
Step One: Attorney Review and Contract Finalization
In New York, accepted offers aren’t binding until attorneys finalize and execute contracts.
During this phase:
Buyer and seller attorneys review contract terms
Riders are negotiated
Timelines are clarified
Contingencies are defined
This process typically takes several days to a couple of weeks, depending on complexity.
Eric Berman REALTOR® coordinates closely with attorneys to keep momentum strong.
Step Two: Buyer Inspections
Once contracts are signed, the buyer schedules inspections.
Common inspections include:
Home inspection
Termite inspection
Radon testing (if applicable)
Structural or system evaluations
Buyers may request repairs or credits after inspections. How you respond can impact the deal’s success.
Step Three: Negotiating Inspection Requests
Not all inspection findings require action.
Common outcomes include:
Seller repairs specific items
Seller provides a credit
Buyer accepts the home as-is
Eric Berman REALTOR® helps you evaluate requests and negotiate fairly while protecting your bottom line.
Step Four: Appraisal (If the Buyer Is Financing)
If the buyer is using a mortgage, the lender orders an appraisal.
The appraiser reviews:
Your home’s condition
Recent Bayside comparable sales
Location and features
If the appraisal comes in low, negotiations may be required. Strong pricing and prep help minimize this risk.
Step Five: Mortgage Commitment and Title Work
While the appraisal is underway, the buyer works toward mortgage commitment.
At the same time:
Title searches are completed
Any liens or issues are addressed
Payoff information is gathered
Clear communication keeps this stage moving efficiently.
Step Six: Preparing for Closing
As closing approaches, you’ll:
Confirm final numbers
Coordinate move-out logistics
Prepare required documents
Schedule utilities and final services
New York closings typically occur 60–90 days after contract signing.
Step Seven: Final Walk-Through
The buyer completes a final walk-through shortly before closing to confirm the home’s condition hasn’t changed.
Make sure:
The home is broom clean
Agreed-upon repairs are complete
All fixtures remain as promised
This step helps prevent last-minute issues.
Step Eight: Closing Day
On closing day:
Documents are signed
Funds are transferred
Ownership officially changes hands
Keys are delivered
Your attorney handles the legal process while Eric Berman REALTOR® ensures everything stays organized and on schedule.
Final Thoughts
Going under contract is a major milestone, but what happens next matters just as much. With clear expectations and experienced guidance from Eric Berman REALTOR®, you can navigate inspections, appraisals, and closing with confidence — and reach the finish line smoothly.
FAQs
How long does it take to close after going under contract in Bayside?
Most closings take 60–90 days. Get a clearer timeline from Eric Berman REALTOR®.
Can a deal fall apart after inspection?
It can, but proper negotiation reduces risk. Learn how to handle inspections with Eric Berman REALTOR®.
What happens if the appraisal comes in low?
Options include renegotiation or buyer gap coverage. Review solutions with Eric Berman REALTOR®.
Do I need to move out before closing?
Usually, yes — unless otherwise negotiated. Clarify timing with Eric Berman REALTOR®.
What should I do to prepare for the final walk-through?
Ensure repairs are complete and the home is clean. Get a checklist from Eric Berman REALTOR®.
URL:
https://www.theericbermanteam.com/blog/what-happens-after-my-bayside-home-goes-under-contract
Eric Berman, REALTOR®
Compass Greater NY
917-225-8596
eric@ericbermanre.com
www.theericbermanteam.com
