The short answer: after your offer is accepted, you move into the “under contract” phase. That typically includes depositing earnest money, completing a home inspection, an appraisal, loan underwriting, title work and insurance, a final walkthrough, and closing. Timelines vary, but knowing the steps ahead of time helps you stay organized and avoid surprises.
Hearing that your offer was accepted is a big moment. It’s also the start of a busy stretch. Between acceptance and closing, there are deadlines to meet, decisions to make, and details to track. Here’s a clear look at what usually happens next.
1. Earnest Money Is Deposited
Shortly after your offer is accepted, you’ll deposit earnest money, a good faith deposit that shows the seller you’re serious. It’s usually due within a few days, according to the terms of your contract, and it’s typically held by a title company or other neutral party.
Why it matters: Earnest money generally gets applied toward your down payment or closing costs. Meeting this deadline on time keeps your contract in good standing.
2. The Home Inspection
Next comes the home inspection. A licensed inspector reviews the home’s condition, including the roof, foundation, plumbing, electrical, heating and cooling, and more. You’ll receive a report, often with photos, outlining what they found.
If the inspection reveals concerns, you may be able to negotiate with the seller for repairs, credits, or other solutions, within the deadlines set by your contract.
Why it matters: This is your best opportunity to understand the true condition of the home before you commit. Your agent can help you decide what to request and how to approach the negotiation.
3. Appraisal and Loan Underwriting
If you’re financing the purchase, your lender will order an appraisal to confirm the home is worth the price you agreed to pay. At the same time, your loan goes through underwriting, where the lender verifies your income, assets, credit, and the property details before giving final approval.
Why it matters: During this period, avoid opening new credit accounts, making large purchases, or changing jobs. Changes to your financial picture can affect your approval, even after pre-approval.
4. Title Work and Homeowners Insurance
A title company researches the property’s ownership history to confirm the seller has the right to sell and to check for liens or other issues. Meanwhile, you’ll shop for and secure homeowners insurance, which your lender will require before closing.
Why it matters: Clean title and proper insurance protect your investment. Starting insurance quotes early helps you avoid last minute delays.
5. Preparing for Closing
As closing approaches, you’ll receive a document showing your final loan terms and closing costs. Review it carefully and ask questions about anything that looks unfamiliar. You’ll also arrange to transfer utilities and plan for your move.
Why it matters: Understanding your final numbers ahead of time means no surprises at the closing table.
6. The Final Walkthrough
Shortly before closing, you’ll do a final walkthrough of the home. This is your chance to confirm that the property is in the agreed condition, that any negotiated repairs were completed, and that nothing has changed since you last visited.
Why it matters: It’s much easier to address concerns before you sign than after closing.
7. Closing Day
At closing, you’ll sign the final paperwork, pay your remaining funds, and complete the transfer of ownership. Once everything is signed and funded, you receive your keys.
Why it matters: This is the finish line, and it feels much smoother when you’ve stayed organized and responsive throughout the process.
How Long Does It Usually Take?
The time between acceptance and closing varies depending on the contract, the loan type, and how smoothly each step goes. Many transactions close in roughly 30 to 45 days, but your contract will outline your specific dates.
A Simple Checklist for the Under Contract Period
Deposit earnest money on time
Schedule your home inspection quickly
Review the inspection report with your agent
Stay in close contact with your lender
Avoid new debt or major financial changes
Secure homeowners insurance
Review your final closing numbers
Complete the final walkthrough
Bring required identification and funds to closing
Frequently Asked Questions
Is my offer final once it’s accepted?
Not exactly. Acceptance puts you under contract, but there are still steps, such as the inspection, appraisal, and loan approval, that need to be completed before closing.
Can I still negotiate after my offer is accepted?
Often, yes. After the home inspection, you may be able to negotiate repairs or credits with the seller, depending on your contract terms and deadlines.
What happens if the appraisal comes in lower than the price?
This can happen, and there are options, such as renegotiating the price, bringing additional funds, or other solutions. Your agent and lender can help you decide the best path.
What should I avoid doing while under contract?
Avoid opening new credit, making large purchases, or changing jobs, since lenders review your finances closely until closing.
The Bottom Line
An accepted offer is the start of an important, detail-filled stretch. Understanding each step, from earnest money to the final walkthrough, helps you stay organized, avoid surprises, and move toward closing with confidence.
If you have an offer in or are getting ready to make one, I’d love to walk you through every step so you know exactly what to expect.
Reach out anytime. Let’s get you to the closing table with confidence.
