What Happens After Your Offer Is Accepted?

Getting your offer accepted is exciting. But the real process is just beginning. Here’s what typically happens next.

📝 1. Earnest Money Deposit

You’ll submit your earnest money deposit, usually within a few days.This shows you’re serious about buying. The money is held in escrow and later applied to your down payment or closing costs.

🔍 2. Home Inspection Period

During this window:

• A licensed inspector evaluates the property

• You receive a detailed report

• You may request repairs or credits

• You can walk away if major issues are found (if protected by contingency)

This is one of the most important steps.

🏦 3. Mortgage Application & Underwriting

If financing:

• You finalize your loan application

• The lender orders an appraisal

• Underwriting reviews your income, credit, and documents

• You may be asked for additional paperwork

Avoid large purchases or new debt during this period.

📊 4. Home Appraisal

The lender orders an appraisal to confirm the home’s value.

If the appraisal:

• Matches or exceeds price → You’re good

• Comes in low → You may renegotiate or adjust financing

📄 5. Title Search & Insurance

The title company ensures:

• No liens or legal claims exist

• Ownership is clear

You’ll purchase title insurance for protection.

🔁 6. Final Walkthrough

Usually 24–48 hours before closing.You confirm:

• Agreed repairs were completed

• No new damage occurred

• Property condition is as expected

🖊 7. Closing Day

You’ll:

• Sign loan documents

• Pay closing costs and down payment

• Transfer ownership

• Receive the keys

Once funds are released and recorded, you officially own the home.

⏳ Typical Timeline

Most transactions close in 30–45 days, depending on financing and negotiations.

⚠ Common Pitfalls to Avoid

• Changing jobs during escrow

• Making large purchases

• Missing document deadlines

• Ignoring inspection findings