From Accepted Offer to Closed Deal: What Happens Next

You have accepted an offer. Congratulations — but the journey is far from over. The period between an accepted offer and the closing table is called the "escrow period" or "under contract" phase, and it is filled with inspections, appraisals, title work, financing approvals, and legal documentation. For first-time sellers, this phase can feel like a maze. This guide maps every turn.

Understanding the closing process not only reduces stress — it helps you anticipate potential obstacles, respond quickly when issues arise, and protect your interests all the way to the finish line.

The Escrow Period: An Overview

Once an offer is accepted, both parties enter escrow — a neutral third-party arrangement where funds and documents are held until all conditions of the sale are met. The escrow period typically lasts 30–60 days for financed purchases and 14–21 days for cash transactions.

During this period, several parallel processes unfold simultaneously:

• The buyer's lender processes the mortgage application
• A home inspection is conducted
• An appraisal is ordered by the lender
• A title search is performed
• Both parties review and sign closing documents

Step 1: Opening Escrow and Earnest Money Deposit

Within 1–3 days of the accepted offer, the buyer deposits their earnest money into an escrow account held by a neutral third party — typically a title company, escrow company, or attorney. This deposit (usually 1–3% of the purchase price) demonstrates the buyer's commitment and will be applied toward their down payment at closing.

As the seller, you should confirm receipt of the earnest money deposit. If the buyer fails to deposit on time, it is a red flag worth addressing immediately.

Step 2: The Home Inspection

The buyer will typically hire a licensed home inspector within the first 7–10 days of escrow. The inspection covers the property's structure, systems, and components — roof, foundation, electrical, plumbing, HVAC, and more. The inspector produces a detailed report that the buyer uses to assess the property's condition.

As a seller, you should:

• Provide full access to all areas of the property, including attic, basement, and crawl spaces
• Leave utilities on so all systems can be tested
• Not be present during the inspection (it makes buyers uncomfortable)
• Have documentation ready for any repairs or improvements you have made

Responding to the Inspection Report

After the inspection, the buyer may submit a Request for Repair (RFR) — a list of items they want repaired or credited before closing. You have three options: agree to all repairs, agree to some and negotiate the rest, or decline and let the buyer decide whether to proceed. Most deals survive inspection with some negotiation. Very few fall apart entirely.

Step 3: The Appraisal

If the buyer is financing the purchase, their lender will order an independent appraisal to confirm that the property is worth at least the purchase price. The appraiser is a licensed professional who visits the property, reviews comparable sales, and produces a formal valuation report.

If the appraisal comes in at or above the purchase price, the process continues smoothly. If it comes in below the purchase price — a "low appraisal" — you have several options:

• Renegotiate the price: Reduce the purchase price to the appraised value
• Split the difference: Buyer pays the gap between appraised value and purchase price in cash
• Challenge the appraisal: If you believe the appraiser made errors, your agent can submit a formal rebuttal with additional comps
• Cancel the contract: If no agreement is reached, the buyer can exit under the appraisal contingency

Step 4: Title Search and Title Insurance

A title company or real estate attorney will conduct a title search — a review of public records to confirm that you have clear, marketable title to the property and that there are no outstanding liens, judgments, or encumbrances that could affect the buyer's ownership.

Common title issues include:

• Unpaid property taxes or HOA dues
• Mechanic's liens from unpaid contractors
• Boundary disputes or encroachments
• Errors in previous deeds or legal descriptions

Most title issues can be resolved before closing, but they require prompt attention. Title insurance protects both the buyer and lender against future claims arising from title defects.

Step 5: Final Walk-Through

Within 24–48 hours of closing, the buyer will conduct a final walk-through of the property. The purpose is to confirm that:

• The property is in the same condition as when the offer was made
• All agreed-upon repairs have been completed
• All included appliances and fixtures are present and functioning
• The property has been cleaned and vacated (if applicable)

As a seller, ensure the property is clean, all personal belongings are removed, and all repair documentation is available. A smooth final walk-through sets a positive tone for the closing table.

Step 6: The Closing Day

Closing day is when ownership officially transfers from seller to buyer. Here is what to expect:

What You Need to Bring

• Government-issued photo ID
• Keys, garage door openers, and access codes
• Any outstanding documentation requested by the title company

What You Will Sign

As the seller, your paperwork is typically lighter than the buyer's. You will sign the deed (transferring ownership), the settlement statement (showing all financial transactions), and any state-required disclosure or transfer documents.

Your Proceeds

After all costs are deducted — outstanding mortgage balance, agent commissions, closing costs, prorated taxes and HOA dues — your net proceeds will be wired to your bank account, typically within 24–48 hours of closing.

Common Closing Delays and How to Avoid Them

• Financing issues: Stay in close communication with the buyer's agent to monitor loan progress
• Title problems: Address any title issues immediately when they arise
• Repair disputes: Resolve inspection negotiations quickly and document all completed repairs
• Last-minute buyer cold feet: A strong earnest money deposit and experienced agents on both sides minimize this risk

You Made It — Now What?

Closing is the culmination of weeks of preparation, negotiation, and paperwork. When the deed is signed and the funds are transferred, you have successfully sold your property. Take a moment to celebrate — and then start planning your next move.

Whether you are buying your next home, investing the proceeds, or simply moving on to a new chapter, our team is here to support you every step of the way. Contact us today to discuss your next real estate move.