What Happens After You Accept an Offer on Your House?

Accepting an offer feels like the finish line, but it's really the beginning of the closing process. The under-contract period involves several important steps, most of which involve the buyer's activity. Here's what to expect as the seller.

The Contract Is Executed: Binding Agreement

Once all parties have signed the purchase agreement, you have a binding agreement. From this date, contractual timelines begin. The inspection window, earnest money deadlines, and financing contingency periods are all measured from here. Your agent will track these dates and keep you informed.

Your listing status will change from "Active" to "Under Contract" (or "Pending") on the MLS and related home search sites.

Earnest Money Is Deposited

The buyer is required to deposit their earnest money within a specified timeframe after the binding agreement (typically a few days). This deposit goes into an escrow account held by the title company, not to you directly. It signals that the buyer is committed and will be applied toward the buyer's costs at closing.

The Home Inspection

The buyer will schedule a home inspection, typically within the first week or two of being under contract. Plan to be out of the home during the inspection; how long it takes depends on the property's size, age, and condition. Leave access to all areas: attic, crawl space, basement, utility spaces.

A few days after the inspection, you may receive a request from the buyer. This might be for specific repairs, a credit at closing, a price reduction, or some combination. This is normal, as almost all home inspections produce some findings. How you respond is a negotiation.

Common approaches:

• Address the request fully, especially for items that are safety-related or likely to come up with the next buyer anyway
• Negotiate by offering a partial credit or addressing some items but not others
• Decline, though declining all requests on significant findings risks the buyer exercising their inspection contingency and exiting the deal

Your agent will advise on what's reasonable given the findings and the market.

The Appraisal

If the buyer is financing the purchase, the lender will order an appraisal. An appraiser will contact your agent to schedule a visit to the home. The appointment is typically brief, around 30–60 minutes. Have the home clean and accessible.

If the appraisal comes in at or above the purchase price, nothing changes. If it comes in below the purchase price (an appraisal gap), expect the buyer to request a price reduction or other accommodation. You're not required to reduce the price, but an appraisal gap that can't be resolved will typically result in the buyer exiting the contract (if they have an appraisal contingency) or paying the difference in cash (less common).

The Buyer's Loan Process

Much of what happens during the contract period is invisible to you as the seller. The buyer's lender is running their underwriting process, verifying the buyer's financial information and finalizing the loan. Occasionally, the lender may have questions about the property. Respond promptly through your agent if anything is needed from you.

Preparing to Move

While the transaction proceeds, your practical job is to prepare to move out. Plan your move around the closing date, ideally being fully out of the home the day before closing or by an agreed-upon time on closing day.

Final Walkthrough

Within 24–48 hours before closing, the buyer will do a final walkthrough. This is their opportunity to verify the home is in the expected condition and that agreed repairs are complete. Have the home clean and accessible. If any repairs were agreed upon, make sure they're done before the walkthrough.

Closing Day

Sellers typically sign their closing documents separately from the buyer, sometimes the same day and sometimes a day before. You'll sign the deed and related transfer documents. Once the buyer's funds are confirmed and everything is signed, the title company releases your net proceeds. The sale is complete.