Congratulations! Please take a moment to celebrate!
Once we’ve verbally accepted an offer, we will now transition from the marketing phase of finding a buyer to the contract phase of selling your home. We will do everything possible from this point forward to make sure that this contract closes on time as long as it is in your best interest. Now both parties will sign the offer and the inspection time period can officially begin on the next business day. This time period usually takes 7-10 days and is specified in your contract.
Buyer's Earnest Money
Within 24 hours of the contract being signed, the buyer is required to drop off their first earnest money check with my office or transfer the funds to my office via wire transfer. This is essentially a good faith payment showing the buyer is serious about moving forward. The earnest money will be credited towards the buyer’s down payment at closing. Once the earnest money is received, we will send you a receipt for your records and we will mark the property as “pending” in the Alaska Multiple Listing Service and cancel any future showings, open houses, or marketing.
Our office holds on to the payment in a separate escrow account as regulated by the State of Alaska. Should a dispute between the buyer and the seller occur, our office will act as an unbiased third party and refund the earnest money back to the buyer, if warranted.