> ## Documentation Index
> Fetch the complete documentation index at: https://ownerfidocs.vetted.studio/llms.txt
> Use this file to discover all available pages before exploring further.

# I Found It! What's Next?

> From favorite to offer. Your step-by-step guide to contacting sellers, navigating terms, and moving toward closing.

You found a home you love. Your heart's racing. Now comes the part where you move from **browsing to buying**—and OwnerFi helps you do it smoothly.

This page walks you through every step after you hit the **Contact Seller** button, so you know exactly what to expect and how to keep momentum going.

<Tip>
  The time from "I want this house" to "I own this house" can be **7–14 days** in owner financing—way faster than traditional mortgages. But speed is only good if you're making smart moves, so don't rush the important parts.
</Tip>

***

## Step 1: Contact the Seller (Be Clear & Professional)

Your first move is to express genuine interest through OwnerFi's contact system.

### How to Reach Out

<Steps>
  <Step title="Open the Property Page">
    From your Favorites or the Discover feed, tap on the home you want to pursue. Scroll to the **Contact Seller** or **Express Interest** button.
  </Step>

  <Step title="Share Your Key Info">
    The platform will ask you to confirm:

    * Your name and contact info
    * Your down payment readiness (e.g., "Can put down 10%")
    * Your timeline (e.g., "Want to close in 30 days")
    * Any questions you have (optional, but smart to include)
  </Step>

  <Step title="Submit Your Inquiry">
    OwnerFi sends your information directly to the seller or their agent. You'll see a confirmation that your inquiry was sent.
  </Step>
</Steps>

<Info>
  OwnerFi shares your information with **licensed real estate agents** who represent the seller or who can help facilitate the deal. These professionals then contact you to discuss next steps.
</Info>

### Tips for a Strong First Impression

<CardGroup cols={2}>
  <Card title="Show You're Serious" icon="handshake">
    Mention your down payment amount and timeline. Sellers want to know you're ready, not just curious.
  </Card>

  <Card title="Ask Smart Questions" icon="circle-question">
    "Can you confirm the exact financing terms?" and "When would closing ideally happen?" show you're thinking ahead.
  </Card>
</CardGroup>

***

## Step 2: The Seller or Agent Reaches Out (Usually Within 24–48 Hours)

Once you've expressed interest, expect contact soon.

<AccordionGroup>
  <Accordion title="Who will call or email you?">
    A **licensed real estate agent** representing the seller, or sometimes the seller directly. Either way, they're verifying you're a real buyer and discussing terms.
  </Accordion>

  <Accordion title="What will they ask?">
    Basic questions: your employment, down payment ability, credit situation (if they care about it), and move-in timeline. This isn't a formal loan application—more like a "are you serious?" conversation.
  </Accordion>

  <Accordion title="What should you ask them?">
    * "What's the exact financing structure—seller finance, subject-to, contract for deed?"
    * "What interest rate are you offering?"
    * "How long is the loan term?"
    * "Is there a balloon payment? If so, when and how much?"
    * "When would you want to close?"
  </Accordion>
</AccordionGroup>

<Tip>
  Write down the answers to these questions during the call. You'll need them when you bring in your attorney and financial advisor.
</Tip>

***

## Step 3: Schedule a Property Viewing & Deep Dive

Before you commit to anything, you need to **actually see the property**—in person or through a thorough video walkthrough.

### What to Look For

<Steps>
  <Step title="Inspect the Property">
    Walk through every room. Check appliances, plumbing, heating/cooling, roof, foundation. Look for red flags like water damage, structural issues, or major repairs needed.
  </Step>

  <Step title="Hire a Professional Home Inspector">
    This costs $300–$500 and is **absolutely worth it**. An inspector will find things you miss and give you a detailed report. If the inspection uncovers major issues, you can renegotiate price or terms.
  </Step>

  <Step title="Ask About Property History">
    * Has anything major been repaired recently?
    * What's the roof age?
    * Are there any liens or back taxes owed?
    * Any HOA issues?
  </Step>

  <Step title="Verify Neighborhood Fit">
    Drive around the area. Check schools, commute time to work, nearby amenities, and general neighborhood vibe. Make sure it still feels right.
  </Step>
</Steps>

<Info>
  **Critical:** Inspections often uncover issues that change your offer. Budget for potential repairs, or walk away if the asking price doesn't account for the home's real condition.
</Info>

***

## Step 4: Verify the Deal Structure & Title

Before you go any further, you **must** independently verify that the seller actually owns what they're selling and can finance it the way they're claiming.

<AccordionGroup>
  <Accordion title="Get a Title Search">
    Hire a title company to search the property's title history. This reveals:

    * Does the seller actually own the property?
    * Are there any liens, judgments, or claims against it?
    * Any unpaid property taxes or HOA dues?\
      This costs $100–$200 and is **non-negotiable**.
  </Accordion>

  <Accordion title="Verify the Financing Structure">
    Ask the seller or agent: "Is this seller financing, subject-to, contract for deed, or lease-to-own?" Get it in writing. This matters for your legal protection and tax status.
  </Accordion>

  <Accordion title="Check Local Laws">
    Owner financing is legal in most states, but rules vary. Confirm your state and local laws allow the deal structure being proposed. Your attorney can help here.
  </Accordion>
</AccordionGroup>

<Tip>
  This is where many deals hit a speed bump—but it's the **right place** to slow down. Better to discover title issues now than after you've moved in.
</Tip>

***

## Step 5: Bring in Your Professional Team

Before you sign **anything**, loop in:

* **A real estate attorney** – Reviews contracts, verifies title, ensures you're protected
* **A real estate agent** (if you don't already have one) – Helps negotiate terms and navigate local norms
* **A financial advisor or accountant** (optional but smart) – Reviews the numbers and tax implications

### What Your Attorney Will Review

<CardGroup cols={2}>
  <Card title="Purchase Agreement" icon="file-contract">
    The main contract outlining price, down payment, closing date, and contingencies (inspections, title, etc.).
  </Card>

  <Card title="Promissory Note" icon="note-sticky">
    The loan document specifying amount, interest rate, payment schedule, and default terms.
  </Card>
</CardGroup>

<CardGroup cols={2}>
  <Card title="Deed of Trust or Mortgage" icon="home">
    The security instrument giving the seller a lien on the property until paid off.
  </Card>

  <Card title="Title Insurance" icon="shield-check">
    A one-time policy protecting you against hidden title problems.
  </Card>
</CardGroup>

<Info>
  **Attorney fees typically run $500–$1,500** for reviewing owner-financed deals. It's money well spent to avoid legal disasters later.
</Info>

***

## Step 6: Negotiate Terms (If Needed)

You don't have to accept the first offer from the seller. **Everything is negotiable** in owner financing.

### Common Things to Negotiate

| Term                 | What It Means                                      | What You Might Ask For                                 |
| -------------------- | -------------------------------------------------- | ------------------------------------------------------ |
| Purchase Price       | The total amount you're paying for the home        | Ask for a lower price if inspection finds issues       |
| Down Payment         | Cash you put down upfront (usually 5–20%)          | Negotiate a lower % if you're short on cash            |
| Interest Rate        | The yearly cost of borrowing (typically 6–12%)     | Ask for 1–2% lower if you have strong income           |
| Loan Term            | How many years to repay (commonly 15 or 30 years)  | Ask for longer term if you need lower monthly payments |
| Balloon Payment      | Large sum due at end (common in 5–7 year deals)    | Ask the seller to waive or reduce if possible          |
| Monthly Payment      | Your regular payment amount (principal + interest) | Work backward from what's affordable for you           |
| Closing Timeline     | When you close and move in                         | Ask for faster close if you're ready; slower if needed |
| Prepayment Penalties | Fee if you pay off loan early (good to avoid)      | Try to negotiate this away so you can refinance freely |

<Tip>
  **Negotiation Rule:** Everything can be negotiated. A seller's first offer is often their opening position, not their final one. Your attorney can help craft counteroffers professionally.
</Tip>

***

## Step 7: Make Your Formal Offer

Once terms are clear, you (typically with your agent or attorney) submit a **written purchase agreement** specifying all deal terms.

### What a Purchase Agreement Includes

<Steps>
  <Step title="Property Address & Legal Description">
    Exact property identification so there's zero confusion about what you're buying.
  </Step>

  <Step title="Purchase Price & Down Payment">
    "$250,000 total purchase price, $25,000 down payment (10%)"
  </Step>

  <Step title="Financing Terms">
    Interest rate, loan term, monthly payment, balloon payment (if any)
  </Step>

  <Step title="Closing Date">
    Target date for signing final documents and moving in
  </Step>

  <Step title="Contingencies">
    Conditions that must be met (e.g., satisfactory inspection, clear title, final walkthrough)
  </Step>

  <Step title="Earnest Money">
    Usually 1–3% of purchase price held in escrow to show you're serious
  </Step>
</Steps>

***

## Step 8: Seller's Response (Accept, Counter, or Decline)

Once your written offer is submitted, the seller has a few options:

<CardGroup cols={3}>
  <Card title="Accept ✅" icon="circle-check">
    They agree to all terms. Move straight to closing prep—you're almost done!
  </Card>

  <Card title="Counter-Offer 🔄" icon="arrows-repeat">
    They want changes (different price, rate, down payment, etc.). You can counter back. Negotiations go back-and-forth until both sides agree.
  </Card>

  <Card title="Decline ❌" icon="circle-xmark">
    They reject your offer outright. Time to move on to the next property.
  </Card>
</CardGroup>

<Tip>
  Negotiation is normal and expected. Don't take a counteroffer personally—it's just business.
</Tip>

***

## Step 9: Due Diligence & Final Verification

Once the offer is accepted, you enter a short window (usually 7–14 days) to verify everything you've agreed to.

### Final Checks

<AccordionGroup>
  <Accordion title="Final Title Search">
    Make sure no new liens or issues appeared since you first searched.
  </Accordion>

  <Accordion title="Final Property Walkthrough">
    Confirm the property is still in the condition you inspected and nothing has changed.
  </Accordion>

  <Accordion title="Verify Insurance & Taxes">
    Get quotes for homeowners insurance and property taxes so there are no surprises. Budget these separately—they're not included in your monthly payment!
  </Accordion>

  <Accordion title="Confirm Financing is Ready">
    Make sure you can access your down payment and have all income/employment documents ready. Some sellers may ask for proof.
  </Accordion>
</AccordionGroup>

***

## Step 10: Closing (Sign Documents, Get Keys, Move In)

This is where it all happens. You'll sign documents at a title company, attorney's office, or notary. Here's the typical flow:

<Steps>
  <Step title="Closing Preparation">
    Your attorney and/or title company prepare final closing documents: deed, promissory note, deed of trust, etc.
  </Step>

  <Step title="Signing Appointment (Usually 1–2 hours)">
    You and the seller (or seller's agent) sign all documents. You deliver your down payment (cashier's check or wire transfer).
  </Step>

  <Step title="Title Recording">
    The deed and deed of trust are recorded with the county clerk, making it official. You now own the home.
  </Step>

  <Step title="Keys & Move-In">
    Once documents are recorded and funds clear, you get the keys and can move in.
  </Step>
</Steps>

<Info>
  Closing can happen as quickly as **7–14 days** after your offer is accepted. This speed is one of owner financing's biggest advantages over traditional mortgages (which take 30–45 days).
</Info>

***

## Step 11: After Closing (You're a Homeowner!)

Congratulations. You own the home. Now it's time to **manage it properly**:

<CardGroup cols={3}>
  <Card title="Set Up Payment System" icon="credit-card">
    Arrange how you'll pay the seller each month (automatic transfer, check, PayPal, etc.). Set calendar reminders so you never miss a payment.
  </Card>

  <Card title="Pay Taxes & Insurance Separately" icon="wallet">
    Remember: **no escrow account**. You directly pay property taxes (usually quarterly) and homeowners insurance (usually annually). Budget these carefully.
  </Card>

  <Card title="Keep Good Records" icon="file-lines">
    Save payment receipts, insurance docs, tax bills, and any correspondence with the seller. You'll need these for refinancing in a few years.
  </Card>
</CardGroup>

***

## Timeline at a Glance

From "I found it" to "I own it":

| Stage                              | Typical Timeline | What Happens                                               |
| ---------------------------------- | ---------------- | ---------------------------------------------------------- |
| Express Interest → Seller Response | 24–48 hours      | Seller or agent contacts you; initial conversation         |
| Property Viewing & Inspection      | 3–7 days         | You inspect property; hire professional inspector          |
| Title Search & Verification        | 3–5 days         | Attorney verifies seller owns property; no hidden liens    |
| Formal Offer Submission            | 1–2 days         | You submit written purchase agreement with all terms       |
| Negotiation / Acceptance           | 1–5 days         | Back-and-forth if needed; seller accepts your offer        |
| Final Due Diligence                | 5–7 days         | Final walkthrough; insurance/tax verification              |
| Closing                            | 7–14 days        | Sign all documents; transfer down payment; get deed & keys |
| **Total Time**                     | **7–30 days**    | **From interest to homeownership**                         |

<Tip>
  This whole process can be **faster than you think**—especially compared to traditional mortgages. Stay organized, keep your attorney in the loop, and don't skip the verification steps.
</Tip>

***

## Red Flags: When to Pump the Brakes

<CardGroup cols={2}>
  <Card title="⚠️ Pause If…" icon="triangle-exclamation">
    * Title search reveals unexplained liens
    * Seller won't provide clear financing terms in writing
    * Inspection finds major structural problems
    * You can't afford the down payment comfortably
    * Seller won't allow your attorney to review documents
  </Card>

  <Card title="✅ Move Forward If…" icon="thumbs-up">
    * Title is clear and insurable
    * All terms are in writing
    * Inspection is satisfactory
    * Down payment is truly comfortable for you
    * Your attorney approves the contract
  </Card>
</CardGroup>

***

## Next Steps

You're ready to move from browsing to buying. But before you make your first inquiry, make sure you're prepared:

* [**Key Terms & Glossary for Expert Homebuying**](/overview/key-terms-glossary) — Know the language before you negotiate
* [**Risks & Protections for Buyers**](/buyers/risks-protections) — Understand what can go wrong and how to protect yourself
* [**Using Licensed Professionals**](/buyers/using-professionals) — Know when you need an attorney, agent, or accountant
* [**Understanding Deal Terms**](/buyers/deal-terms) — Deep dive into interest, down payments, and balloon payments

***

**Support:** Questions about the process? Email [support@ownerfi.ai](mailto:support@ownerfi.ai) and we'll help you think through next steps.