What happens after your offer is accepted
Buying a house is exciting. It's also long, with more steps than you might expect. In real estate, closing is when the final documents get signed and the property officially transfers from seller to you. Every deal is a little different, but once your offer is accepted, here's the general timeline you can count on.
Negotiating the offer: 1–3 days
You've found a house you like and made an offer. The seller reviews it and sends back a counter-offer. Negotiation can take up to three days and usually covers the closing date, moving day, how much your deposit will be, the inspection window, and what stays with the house (appliances, light fixtures, that sort of thing).
Escrow deposit: 5–10 days
Once you've agreed on the offer, you submit your earnest money deposit — sometimes called a good faith deposit. It shows the seller you're serious. The money is held by an independent escrow agent (someone not involved in the transaction), so it stays safe even if the deal falls through for a valid reason.
Title search and title insurance: 10–14 days
A title search confirms the house actually belongs to the person selling it and flags any issues that might complicate the transfer. Title insurance protects you from financial losses if something like unpaid property taxes or an old lien turns up after you've closed. It's a backstop you'll be glad you have.
Home inspection: 1 day
After the final offer is signed, schedule a home inspection as soon as you can. Technically optional, but absolutely worth it — you'll learn what you're actually buying. If the inspector finds minor defects, you can ask the seller to fix them before closing. Not sure what to look for? Your realtor can walk you through it.
Finalizing the purchase agreement: 1–3 days
Once you've seen the house and you're satisfied, you finalize the purchase agreement. Both you and the seller sign. This is the contract that spells out everything you've negotiated.
Completing your mortgage application: 1 day
After the purchase agreement is signed, you meet with your lender to complete your mortgage application. Your loan officer — likely a mortgage professional — handles the paperwork and sends your application forward for final approval.
Ordering an appraisal: 5–10 days
The lender orders an appraisal to determine what the property is actually worth. The mortgage company uses that number to decide whether the loan makes sense. Once the appraisal is done, your approval moves one step closer.
Receiving final loan approval: 2–4 weeks
After you submit your mortgage application, expect final approval within a month. Once you have it, you can start counting down to closing day — the big event. All the checks are submitted, all the documents signed, and the house transfers into your name. You're officially a homeowner.
What to do before you start shopping
The closing process is long, but knowing what to expect at each stage takes most of the nerves out of it. Before you even start looking at houses, get a mortgage pre-approval. It tells you how much you can borrow based on your income, assets, and credit score, so you know which price range to shop in. It also shows sellers you're a serious buyer.
Get in touch with a mortgage professional for more on what to expect and how to set yourself up for a smooth close.
