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