This is a report that is prepared and signed by the seller that discloses any known defects in the property. This report is valuable to both the buyer and the seller and helps avoid unpleasant surprises after closing. Many sellers provide the Condition Report at the time they receive an offer, some provide it before. Your attorney should review the report to make sure it is complete. If in doubt - DISCLOSE, it's better for seller AND buyer.
"My offer was accepted! What happens next?"Congratulations! If all goes as planned, you are about to become a homeowner! Your next step should be to make sure the home is exactly as it seems by hiring an independent home inspector to inspect the home and provide you with a report. The offer may give you a certain period of time to have the home inspected -10 - 20 days. In addition, you should take your signed offer to your lender for approval on a mortgage (if you are not already approved). The lender may want to have an appraisal performed to be sure the home is worth what you think it's worth.