You are Under Contract!

Your earnest money demonstrates your commitment to the contract because once you have made your deposit, failing to meet certain terms could result in its forfeiture.

You may submit your earnest money in person by check or wire it to the title company.

You will be receiving wire instructions shortly if you have not already. If wiring, make sure to follow the instructions precisely and confirm with the title company when you are sending your wire, and confirm that it has been received.

Here is a list of title companies in Santa Fe we have direct experience with.

Please see the introductory email that linked you to this page for your earnest money amount due, delivery deadline, and the title company that we are working with.

Home inspections are a vital way to determine any prior, existing, or potential material facts about your new home.  The most common inspections for Santa Fe Homes are:

• General Home Inspection
• Pest/Critical Pest inspection
• Sewer Scope
• Radon Test
• Mold Test
• Lead Based Paint Test (for homes built before 1978)

Here a list of inspectors we have used. You are also welcome to find other options.

Please reference the list of inspectors and schedule your home inspection(s) as soon as possible OR let us know the inspector(s) of your choosing and we are happy to schedule them for you.

Please see your contract calendar and the introductory email that linked you to this page for your deadline to object to the inspection results.

If you are financing your property with a loan, please know that mortgage approval can take time, so the sooner you start this process the better.

More than likely, you already have a lender. However, sometimes it is appropriate to continue the search.

Here is a list of lenders we have worked with. You are also welcome to find other options. It is advisable to acquire terms from multiple companies before making your selection.

Your lender will provide you with a loan disclosure within three business days from your application, showing you what your final mortgage payment will look like with a breakdown of included costs.  Review this meticulously to make sure you understand what you will be paying and why. Please let us and your lender know of any questions that arise.

Please see your contract calendar for your deadline to submit your mortgage application.

In your buyer folder is an MLS sheet with detailed information on the property that you will need when applying for insurance.

Here is a list of insurance companies we have experience with. You are always welcome to choose other options. It is advisable to obtain quotes from multiple companies before making your final selection.

Please see your contract calendar for your insurance application deadline and your insurance contingency deadline, the date by which you can withdraw your offer based on insurance.

Unless the property belongs to an estate, the seller will usually provide a full disclosure of any adverse material facts about the property that they are aware of. We will also request copies of warranties and repair receipts for all work that has been done on the home.

Please be aware that the Adverse Material Facts Statement (AMF, a.k.a. property disclosure) is not a required document in New Mexico.

If an AMF is provided, make sure to review this carefully, and select any repairs you would like estimates for.

Please see your contract calendar for your deadline to object to the AMF | property disclosure.

Your home may have solar panels, a well, a septic system, or other unique features.

Please see your contract calendar for the date you can expect to receive documents pertaining to the specific feature and for your deadline to object to the documents.

Make sure to review all documents closely and ask any questions that arise. If we don’t have answers, we will direct you to the appropriate experts.

Here a list of inspectors we have used. You are also welcome to find other options.

Please reference the list of inspectors and schedule your home inspection(s) as soon as possible. Or, let us know the inspector(s) of your choosing and we are happy to schedule them for you.

We will discuss the findings together and we will assist you with negotiations.

Please see your contract calendar and the introductory email that linked you to this page for your deadline to object to the inspection results.

Your property may be part of a homeowners' association (HOA).

Please see your contract calendar for the date by which the title company will deliver the HOA documents.

When you receive them, please review them carefully and let me know of any questions that arise.

Please see your contract calendar for your deadline to object to the HOA documents.

The title company will deliver title work as soon as possible.

It will include the commitment for title insurance, which will protect you and your lender from any potential conflicting claims of ownership, as well as previous property taxes, and any existing covenants, conditions, and restrictions (CCRs).

Please see your contract calendar for your deadline to object to the title work.
 
The title company will also send a ‘Buyer Information Sheet’ and ‘Notice to Purchaser Insured’, in which you will select the terms of your title insurance. Please complete these forms and return them promptly to the title company.

The title company will deliver a survey,  improvement location report (ILR), or if you are buying a condo, a condo resale certificate.

When it arrives, please take note of any easements or encroachments that may exist, and always let us know of any questions. You can also contact the surveyor at any time.

Please see your contract calendar for the date by which you should receive the survey or ILR and for your deadline to object to it.

The appraisal ensures that you are paying a fair price for the house. Your mortgage provider will hire an appraiser to inspect the property and offer an independent opinion of its value.

If you are buying with a loan, the appraisal is usually mandatory by the bank, although in some cases you may obtain a waiver. If you are paying cash and have decided to require an appraisal, you will work with us to get that scheduled.  

Sometimes, appraisals may come in low. This can impact a loan and may require additional negotiations. In this case, we will help you determine the next steps and navigate the process.

Please see your contract calendar for the date by which the appraisal must be ordered. Your lender will let you know when they have ordered the appraisal and when it has been scheduled for.

If you are obtaining a loan, your lender will deliver your closing disclosure three business days before your closing date.

Compare the closing disclosure with the loan disclosure, which you received after you first applied for the loan, to make sure nothing unexpected has changed.

Please see your contract calendar for your final loan commitment deadline, which is your last chance to withdraw your offer due to any potential issues with your loan.  

After objecting to inspections, the seller may agree to complete certain repairs.

Please see your contract calendar for the repair completion deadline, which is the date by which the seller must complete the agreed-upon repairs.

We will confirm with their broker that the work has been done by this date.

The week before closing is a great time to make arrangements for utilities to begin or transfer on your closing date or, if your contract includes a seller occupancy, on the date you will take possession of the property.

Your buyer folder contains a list of utility companies you will need to contact.

If you can please let us know when utility arrangements are complete, we would appreciate it.

We will schedule a final walk-through of the property before the closing date. Together, we will walk through the house room by room to make sure everything is in the same if not better condition than when you last saw it.

We will confirm that all agreed-upon repairs are complete, that all appliances and fixtures are present, and that anything that was supposed to have been removed is in fact gone.

If any discrepancies are found, we will discuss our options.

We may ask the seller to amend the issue before closing, we may delay closing so they have time to do so, or we may negotiate to withhold money from the seller’s proceeds in an escrow account to pay for the repairs after closing.  We will discuss the pros and cons of all courses of action.

Please see your contract calendar for your closing day.

It will happen at the title company or if you prefer, the title company can make arrangements with you for a remote closing.

You will spend about one hour going over and signing all documents with your escrow officer.

Make sure to have your ID(s) available as well as the amount required to close in the form of a check or money order, or please make arrangements to wire it in advance.

Once complete, you will pick up your new house keys.

CONGRATULATIONS! You officially own your new home!

Thank you for choosing us and Coldwell Banker Mountain Properties to represent you in the purchase of your home.

Please know your satisfaction with our service, communication and follow-through is very important to us.  We hope you will reach out if there are any suggestions or ideas to help us improve in any way.

We are grateful to have you in our lives and look forward to staying in touch!