What to do AFTER your offer has been accepted?

[Brian Garrett]

This is a very basic question. I have never purchased a home before so I am not sure of the standard procedures or proper protocols. On a flip property for example, once you have an offer accepted do you then coordinate with a contractor or inspector to come walk the property? I'm not sure what the process is. Do you have an inspector come out and make a list of any and all issues? What do they charge for this? Do you then have a contractor come afterwards to give you a bid on the rehab costs? Do you have them both come at the same time? Do you just have a contractor come and not an inspector? I'm a bit confused on this aspect of the deal. Can someone please give me a simple run down of the standard process? Thank you in advance for helping clarify!