Offer Accepted, Now What?
🎉 Your Offer Was Accepted — What Happens Next?
Once the seller accepts your offer, you enter the next phase of the home-buying process. At this stage, you’ll provide an earnest money deposit — typically about 1% of the purchase price. This deposit is held by an attorney or settlement/escrow company and applied toward your final purchase at closing.
By this point, you and the seller will have agreed on a closing date and the contingencies that must be satisfied before the sale is finalized. Most contracts allow about 30 days to complete these items. While every contract is unique, most include the following:
✔ Inspection Contingency
Schedule inspections as soon as possible after the contract is signed. If issues are discovered, you can negotiate repairs, request credits, or in some cases, cancel the contract.
✔ Financing Contingency
You’ll have a set timeframe to secure your loan. If financing cannot be obtained during this period — and the seller does not agree to extend — you may need to cancel the purchase. This is why pre-approval before shopping is so valuable!
✔ Clear & Marketable Title
The seller must provide a title free of legal issues so ownership can be transferred smoothly. We’ll help ensure local and state requirements are met and that the title is truly “clear.”
✔ Homeowner’s Insurance
Most lenders require proof of insurance before closing. It’s best to begin the application process right after your contract is signed to avoid delays.
✅ Our team will guide you through each of these steps to make sure everything is handled smoothly and on time.
Ready to Take the Next Step?
If you have questions or are ready to begin the home buying process, just complete the form below, and a member of our team will be in touch shortly!
