May 26, 2026 – You did it. After weeks (or maybe months) of showings, negotiations, and second-guessing, both sides have signed the purchase agreement. So… now what?
Whether you are the buyer or the seller, the period between offer acceptance and closing day is one of the busiest stretches of any real estate transaction. It is also where most deals run into surprises. The good news: when you know what to expect, the process feels a lot less overwhelming.
Here is exactly what happens after an offer is accepted on a house, in the order it usually unfolds.
You Are Officially “Under Contract” (But Not Sold Yet)
Once both the buyer and seller sign the purchase agreement, the home is considered “under contract” or “pending.” This means the seller has agreed to take the home off the active market and work toward closing with the buyer.
It does not mean the sale is final. The contract includes contingencies, which are conditions that must be met before the deal can close. Most purchase agreements include contingencies for the home inspection, appraisal, financing, and clear title. If any of these fall through, the deal can be renegotiated or canceled.
A typical timeline from accepted offer to closing day runs 30 to 45 days, though cash deals can close faster and complicated financing can stretch it longer.
Step 1: The Buyer Delivers Earnest Money
Within a few days of acceptance (the timeframe is spelled out in the contract), the buyer sends an earnest money deposit. This is a good-faith deposit that shows the seller the buyer is serious.
Earnest money is typically 1% to 3% of the purchase price, though it varies by market. The funds are held in escrow by the title company, the seller’s brokerage, or an attorney. At closing, the earnest money is credited toward the buyer’s down payment or closing costs.
If the buyer backs out for a reason covered by a contingency, they usually get the earnest money back. If they walk away without a valid contingency, the seller may be entitled to keep it.
Step 2: The Home Inspection
Within the first week or two, the buyer schedules a home inspection. A licensed home inspector spends two to four hours examining the property’s structure, roof, foundation, plumbing, electrical, HVAC, appliances, and more.
The inspection usually costs the buyer between $300 and $600, depending on the size and age of the home. The inspector then delivers a written report, often with photos, outlining everything from minor issues to major concerns.
After reviewing the report, the buyer has a few options:
- Accept the home as-is and move forward
- Request repairs from the seller before closing
- Ask for a credit at closing to handle the repairs themselves
- Walk away from the deal if a serious problem turns up (assuming the inspection contingency is still in effect)
This is one of the most common stages where a deal gets renegotiated. A good agent helps both sides agree on what is reasonable.
Step 3: The Appraisal
If the buyer is financing the home with a mortgage, the lender will order an appraisal. An independent, licensed appraiser visits the property to determine its fair market value.
The appraisal protects the lender. They will not loan more than the home is worth, so the appraised value needs to support the agreed purchase price.
Three things can happen:
- The home appraises at or above the purchase price. The deal moves forward as planned.
- The home appraises below the purchase price. The buyer and seller need to negotiate. The seller might lower the price, the buyer might cover the difference in cash, or both sides might meet in the middle. If they cannot agree, the buyer can often back out under the appraisal contingency.
- The appraisal comes in higher than the purchase price. Great news for the buyer, who now has instant equity.
The appraisal typically takes one to two weeks to complete after it is ordered.
Step 4: The Buyer Finalizes the Mortgage
While inspection and appraisal are happening, the buyer is working closely with their lender to finalize the loan. Even if they were pre-approved, the lender still needs to verify everything in detail before issuing a final approval, often called a “clear to close.”
The buyer will likely be asked for:
- Recent pay stubs and W-2s or tax returns
- Bank and asset statements
- Explanations for any large deposits or unusual account activity
- Updated employment verification
- Homeowners insurance information
The single most important rule during this stage: do not make any major financial changes. That means no new credit cards, no car loans, no large purchases on credit, no job changes, and no big deposits or withdrawals you cannot easily explain. Any of these can delay or derail your loan approval.
Step 5: Title Search and Title Insurance
While financing is being finalized, a title company researches the property’s title history. The title search confirms the seller has the legal right to sell the home and uncovers any liens, unpaid taxes, easements, or ownership disputes that need to be resolved before closing.
The buyer typically purchases title insurance, which protects against any title issues that show up after closing. The lender will also require a lender’s title policy. In some markets, the seller pays for the owner’s policy as a customary closing cost. Your purchase agreement spells out who pays what.
Step 6: Final Walk-Through
Within 24 to 48 hours before closing, the buyer does a final walk-through of the property. This is not another inspection. It is a chance to confirm:
- The home is in the same condition it was when the offer was accepted
- Any agreed-upon repairs have been completed
- All items included in the sale (appliances, fixtures, window treatments) are still there
- The seller has moved out (unless a post-occupancy agreement is in place)
If something is wrong, do not skip this step. Bring it up with your agent immediately so it can be addressed before closing.
Step 7: Closing Day
This is the day ownership officially transfers. Closing usually takes place at the title company’s office, though remote and hybrid closings have become much more common.
At closing, the buyer signs a stack of documents, including the mortgage note, deed of trust, closing disclosure, and various government forms. The seller signs documents transferring ownership.
The buyer brings:
- A government-issued photo ID
- A cashier’s check or proof of wire transfer for closing costs and down payment
- Proof of homeowners insurance
The seller brings:
- A government-issued photo ID
- House keys, garage door openers, and any other access items
- Any warranties or manuals for appliances and systems
Once all documents are signed and funds are disbursed, the deed is recorded with the county. Congratulations: the buyer is officially a homeowner, and the seller has officially sold the home.
What Can Delay or Kill a Deal After an Offer Is Accepted?
Most transactions close on time, but here are the most common reasons deals stall or fall apart:
- Inspection surprises. Major issues like foundation damage, roof problems, or hidden water damage can lead to renegotiation or cancellation.
- Low appraisal. When the appraised value is less than the offer, both sides have to come back to the table.
- Financing problems. Last-minute credit changes, job loss, or undisclosed debt can cause a loan to fall through.
- Title issues. Unresolved liens, boundary disputes, or unclear ownership can hold up closing until resolved.
- Buyer or seller’s remorse. It is rare, but sometimes one side simply changes their mind. The contingencies in the contract determine what happens next.
Tips to Keep Your Deal on Track
To give yourself the best chance of a smooth closing:
- Respond quickly to lender and title company requests
- Keep your finances steady until after closing
- Stay in close contact with your agent
- Read every document before you sign it
- Ask questions any time something does not make sense
Frequently Asked Questions
How long does it take to close on a house after the offer is accepted?
Most home sales close within 30 to 45 days of the accepted offer. Cash deals can close in as little as one to two weeks. Loans with more underwriting involved, like FHA or VA, may take a bit longer.
Can a seller back out after accepting an offer?
In most cases, no, not without consequences. Once both parties sign the purchase agreement, the seller is legally obligated to follow through. There are limited exceptions, such as if the buyer fails to meet a contractual obligation, but a seller who walks away for no valid reason may face legal action.
Can a buyer back out after the offer is accepted?
A buyer can usually back out under a contingency, such as an unsatisfactory inspection, low appraisal, or denied financing. Without a valid contingency, backing out typically means forfeiting the earnest money.
What does “pending” mean in real estate?
“Pending” means a seller has accepted an offer and the property is under contract, but the sale has not yet closed. Other buyers can sometimes still submit backup offers in case the original deal falls through.
Do I need to do anything between accepting the offer and closing day?
Yes. Buyers should stay in close touch with their lender, complete inspections promptly, and avoid any major financial changes. Sellers should keep the home in showing condition, complete agreed-upon repairs, and prepare for the move.
The Bottom Line
The time between accepting an offer and closing day is full of moving parts: inspections, appraisals, lender requests, and title work. It can feel like a lot, but each step is there for a reason, protecting both the buyer and the seller.
The best thing you can do? Work with an experienced real estate agent who has guided countless transactions to the closing table. They will help you anticipate what is coming, navigate any bumps along the way, and make sure you actually get to celebrate on closing day.
Have questions about your next move? Get in touch with our team and we’ll walk you through every step of the process.