From Accepted Offer to Closing Day

What happens after the seller accepts?

An accepted offer is an important milestone, but it is not the same as a completed sale. Your purchase agreement sets the deadlines, responsibilities, and conditions that guide the transaction.

• Save a complete copy of the signed agreement and all addenda.
• Put inspection, financing, appraisal, title, and closing deadlines on your calendar.
• Keep your agent and lender informed about any change in your plans or finances.

Deliver earnest money and open the file

After acceptance, the parties follow the agreement’s instructions for the earnest-money deposit and transaction setup.

• Confirm the deposit amount, recipient, payment method, and due date in the agreement.
• Use independently verified instructions from the authorized holder; be alert to fake wiring instructions.
• Ask your agent or title company what documents and contact details they need to begin processing.

Schedule inspections and investigate the home

The inspection period is often one of the first significant deadlines. Schedule inspections early enough to receive reports and make informed decisions before the contingency expires.

• Arrange a general home inspection and any appropriate specialist inspections, such as sewer scope, radon, pest, well, or septic.
• Review safety issues, major systems, water intrusion, structural concerns, and maintenance needs.
• If the contract permits, discuss requesting repairs, a credit, another agreement, or exercising an inspection contingency before its deadline.

Keep your mortgage approval on track

A preapproval is not a final loan approval. Your lender must verify your financial information and the property before issuing a clear-to-close decision.

• Respond promptly to requests for pay stubs, bank statements, tax documents, explanations, or insurance information.
• Avoid opening credit accounts, financing furniture or vehicles, changing jobs, or moving large sums without discussing it with your lender.
• Ask your lender to explain the rate lock, loan estimate, cash-to-close requirements, and remaining conditions.

Understand the appraisal

For many financed purchases, the lender orders an appraisal to evaluate the property as collateral. The appraised value may differ from the agreed purchase price.

• Your lender typically coordinates the appraisal and explains the result.
• If value comes in below the price, options may include a price renegotiation, additional cash, a reconsideration of value, or another contractual remedy.
• Check whether your agreement has an appraisal contingency or appraisal-gap provision before assuming you can cancel or renegotiate.

Review title, survey, and property requirements

The title company or closing attorney researches ownership and recorded matters that may affect the transfer. Depending on the property and transaction, additional municipal or association requirements may apply.

• Review the title commitment and ask about liens, easements, restrictions, judgments, and exceptions.
• Confirm any survey needs, boundary questions, association documents, and required municipal inspections or certificates.
• Ask who is responsible for resolving title defects or outstanding requirements under your agreement.

Arrange insurance and prepare closing funds

Your lender may require proof of acceptable homeowners insurance before closing. Your final amount due depends on the loan terms, prorations, credits, and closing charges.

• Shop for insurance early, especially if the property has an older roof, special risks, or prior claims.
• Review your Closing Disclosure with your lender. For most covered mortgages, you must receive it at least three business days before consummation, subject to applicable rules and exceptions.
• Verify the final cash-to-close amount and secure payment instructions by calling the title company at a known number.

Complete the final walkthrough

The final walkthrough is usually conducted shortly before closing. It is a chance to confirm the property’s condition and the completion of agreed obligations—not a substitute for a full inspection.

• Check that the property is in the condition required by the agreement and agreed repairs are complete.
• Confirm included appliances, fixtures, remotes, and other negotiated items remain.
• Report unexpected damage, missing items, or unfinished work to your agent before signing.

Sign, fund, and receive possession

At closing, the parties sign the necessary documents, required funds are delivered, and the transaction is completed according to the closing agent’s procedures and the purchase agreement.

• Bring acceptable identification and any documents or funds the closing company requested.
• Review names, loan terms, credits, prorations, and the settlement statement; ask questions before signing.
• Confirm when the sale is funded, when possession transfers, and how keys, garage remotes, and access codes will be delivered.

Your first days as a homeowner

A little organization after closing can prevent avoidable headaches.

• Transfer utilities and set up your mailing address as appropriate.
• Change exterior locks or rekey them, test smoke and carbon-monoxide alarms, and locate the main water shutoff.
• Keep copies of your closing documents, insurance information, warranties, and service records in one secure place.

Stay ahead of the next deadline

Ask your buyer's agent for a transaction timeline based on your signed purchase agreement. A good plan identifies who is handling each task, when it is due, and what needs your approval.

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