What happens after a home buyer’s offer is accepted?

Getting your offer accepted feels like the finish line - until you realize it's actually the starting gun. You've just entered a 30- to 60-day sprint filled with inspections, paperwork, and deadlines that can make or break your home purchase.

This guide walks you through every step from contract signing to closing day, including how to handle appraisal problems, what buyers are responsible for, and how cash offers change the timeline entirely.

Offer accepted on the house, now what

Your home is officially "under contract" once the seller accepts your offer. This means you've entered a legally binding agreement, and the property is no longer available to other buyers. The next 30 to 60 days will be busy - you'll deposit earnest money, schedule inspections, finalize your mortgage, and prepare for closing day.

Here's what happens during the contract period:

• Earnest money deposit: You'll put down 1% to 3% of the purchase price to show you're serious about buying.

• Home inspection: A professional examines the property for major issues.

• Appraisal: Your lender verifies the home is worth what you're paying.

• Title search: A company confirms the seller legally owns the property.

• Final walkthrough: You check the home one last time before closing.

Each step has a deadline, and missing one can put your purchase at risk. The good news? Your real estate agent and lender will guide you through the timeline.

Timeline from offer to closing day

Most buyers close within 30 to 60 days after their offer gets accepted. Cash buyers often close faster since they skip the mortgage approval process. If you're financing the purchase, expect the full 60 days - your lender needs time to verify your finances and approve the loan.

Typical 30- to 60-day milestones

Week one starts with your earnest money deposit and scheduling the home inspection. By week two, you're submitting documents to your lender and reviewing inspection results. Weeks three and four involve the appraisal and any repair negotiations with the seller.

The final two weeks focus on finalizing details. You'll shop for homeowners insurance, review the title commitment, and schedule utility transfers. The last few days include your final walkthrough and closing appointment.

Fast-track options with a cash offer

Cash offers skip the mortgage steps entirely - no loan application, no underwriting, no lender-required appraisal. You can close in as little as two weeks. You'll still want a home inspection and title search, but you control the timeline.

Opendoor's cash offer process takes this even further. You get a firm price upfront and choose your own closing date, sometimes in as few as 14 days.

Factors that can extend the timeline

A low appraisal means you'll spend time renegotiating with the seller or finding extra cash. Inspection problems can delay closing while repairs get completed. Title issues like unpaid liens or ownership disputes add weeks to resolve.

Your lender might also hit delays if you're slow to provide documents or if your credit situation changes. Staying responsive keeps your closing on track.

Step by step after offer acceptance

Eleven specific actions stand between your accepted offer and getting the keys. Each one has a purpose and a deadline. Let's walk through them.

1. Earnest money deposit

Within 24 to 48 hours, you'll wire or deliver a check for your earnest money to your agent's escrow account. This deposit typically runs 1% to 3% of the purchase price. The money shows the seller you're committed, and it gets credited toward your down payment at closing.

You can lose this money if you back out without a valid reason. Your contract includes contingencies - conditions that let you walk away and keep your deposit. Common ones cover inspections, appraisals, and financing.

2. Open escrow and order title search

Escrow is a neutral third party that holds everyone's money and documents until the sale completes. Once escrow opens, the title company starts searching public records to verify the seller owns the property free and clear. They're looking for liens, unpaid taxes, or legal claims that could affect your ownership.

The escrow officer coordinates between you, the seller, your agents, and your lender. They make sure documents get signed correctly and money moves where it's supposed to go.

3. Schedule home inspection

A professional inspector examines the home's structure, systems, and safety within the first 10 days. They check the foundation, roof, plumbing, electrical work, heating and cooling systems, and visible problems. The inspection costs $300 to $500 and typically takes two to three hours.

Your inspection contingency gives you options if problems surface. You can ask the seller to fix issues, request money off the purchase price, or cancel the contract. Major findings might include:

• Foundation cracks or settling

• Roof damage or missing shingles

• Outdated electrical panels

• Plumbing leaks or old pipes

• Mold or water damage

You might also order specialized inspections for pests, radon, or septic systems depending on the property.

4. Submit mortgage documents

Your lender will ask for bank statements, tax returns, pay stubs, and proof of employment. They need 30 to 45 days to review everything and approve your loan. Responding quickly to document requests keeps your closing date on schedule.

Don't make large purchases, open new credit cards, or change jobs during this period. Any financial change can trigger additional reviews or even loan denial.

5. Home appraisal

Your lender hires an independent appraiser to confirm the home's value matches your loan amount. The appraiser looks at recent sales of similar homes, the property's condition, and the neighborhood. If the appraisal meets or exceeds your offer price, your loan moves forward.

When the appraisal comes in low, you have a few choices. You can negotiate a lower purchase price, pay the difference in cash, or ask for a second appraisal. Some buyers include an appraisal gap clause in their offer, agreeing to cover up to a certain amount above the appraised value.

6. Review title commitment

The title company sends you a commitment document showing the property's ownership history and any claims against it. Look for outstanding mortgages, tax liens, easements, or boundary disputes. Your title insurance policy protects you if problems appear after closing that weren't found during the search.

The seller typically resolves any title problems before closing. Unresolved issues can delay or cancel the sale.

7. Shop homeowners insurance

Your lender requires proof of insurance before closing. Basic coverage includes the home's structure, your belongings, and liability if someone gets hurt on your property. Start shopping for quotes early since policies take time to set up.

You might need extra coverage for floods, earthquakes, or hurricanes, depending on where you live. Your lender will tell you the minimum coverage required.

8. Negotiate repairs and credits

After the inspection, you'll decide which problems matter most. You can ask the seller to fix issues before closing, give you money toward closing costs, or reduce the purchase price. Safety problems like gas leaks or structural damage usually get priority.

Sellers aren't required to make repairs. You'll decide whether to accept the home as-is, keep negotiating, or use your inspection contingency to cancel. Get any agreed repairs in writing and check they're done during your final walkthrough.

9. Transfer utilities

Call the electric, gas, water, internet, and trash companies to schedule service transfers for your closing date. Sellers usually keep utilities on through closing day, so coordinate timing to avoid gaps. Some providers want deposits or credit checks for new accounts.

Set up transfers at least one week before closing. Moving into a home without heat, water, or electricity isn't fun.

10. Final walk-through

The day before or morning of closing, you'll walk through the property one more time. You're checking that agreed repairs were completed, all appliances and fixtures are still there, and the home is clean and empty. This isn't a second inspection - you're confirming nothing changed since you made your offer.

If you find new damage or missing items, talk to your agent before signing closing documents. You can delay closing until problems get fixed.

11. Closing day signing and funding

At closing, you'll sign loan documents, the deed, and various disclosures. Bring a government-issued ID and a cashier's check or wire transfer for your down payment and closing costs. The title company walks you through each document.

Once everyone signs and your lender sends the money, the deed gets recorded with the county and you receive the keys. The closing appointment takes about an hour to 90 minutes.

Common roadblocks and how to avoid delays

Even smooth transactions hit bumps. Knowing what can go wrong helps you respond quickly.

Low appraisal solutions

When the appraisal comes in below your offer, you can negotiate a lower price, increase your down payment to cover the gap, or dispute the appraisal with additional sales data. Some buyers split the difference with sellers. If negotiations fail and you have an appraisal contingency, you can cancel and get your earnest money back.

Financing snags and contingency extensions

Lender delays, missing documents, or credit problems can push back your closing date. Check in with your lender weekly to track progress. If you need more time, request a contingency extension in writing. Sellers might agree if they believe the sale will close, but repeated extensions can make them consider other offers.

Inspection deal breakers and renegotiations

Major structural problems, mold, foundation issues, or outdated electrical systems can justify walking away. If you want to move forward, get repair estimates from licensed contractors and negotiate based on actual costs. Some sellers prefer giving you money instead of handling repairs themselves.

Buyer duties versus seller duties

Knowing who handles what prevents confusion.

Key deadlines buyers must meet

You're responsible for depositing earnest money on time, completing inspections within the contingency period, securing financing by the loan deadline, and removing contingencies as agreed. Missing deadlines can let sellers cancel the contract and keep your earnest money.

Obligations sellers handle before closing

Sellers maintain the property, complete agreed repairs, provide clear title, and move out by closing day. They also pay off their mortgage, settle property taxes through closing, and cover any liens against the property.

Cash offer vs financed offer timeline

How you pay changes how quickly you close and which steps you complete.

Steps you skip with a cash offer

Cash buyers bypass mortgage applications, underwriting, and lender-required appraisals. This cuts weeks from the timeline and removes financing-related risks. You'll still want inspections, title work, and insurance, but on your schedule.

How Opendoor shortens the road to closing

Opendoor's cash offer removes the uncertainty of traditional sales. You get a firm price upfront and pick your closing date. No showings, no negotiations, no buyer financing that might fall through. The entire process can happen in 14 days.

Get a free cash offer today

Move forward with certainty through Opendoor

The traditional path from offer to closing involves dozens of steps, multiple parties, and countless chances for delays. Each inspection, appraisal, and lender requirement adds time and uncertainty.

Get a free cash offer today

Opendoor simplifies selling by removing the complexity. You receive a transparent cash offer and choose your closing date. No showings, no negotiations, no surprises.

Get a free cash offer today

Frequently asked questions about post-offer steps

Can a seller back out after accepting an offer?

Sellers can back out if specific contingencies in the contract allow it, like being unable to find a new home or if inspections reveal major undisclosed problems. Outside contract contingencies, backing out might require returning your earnest money and potentially paying damages for breach of contract.

What percent of accepted offers fall through?

According to a 2024 NAR survey, only 5% of contracts were canceled, though some estimates suggest 10% to 15% of accepted offers don't make it to closing when including delays and renegotiations. Common reasons include financing denials, failed inspections, low appraisals, and cold feet from either party.

How can I close faster without extra cost?

Respond immediately to lender requests, complete inspections early, and avoid any financial changes during the process. Cash offers naturally close faster, and services like Opendoor can reduce the timeline to two weeks while maintaining transparency.