What Happens After Your Offer Is Accepted? The Next 10 Steps Explained
Getting your offer accepted is a huge milestone - but it’s not the end of the home buying process. In many ways, it’s the beginning of the most important phase: turning an accepted offer into a successful closing.
After acceptance, deadlines accelerate, multiple professionals get involved, and several things must go right - inspections, appraisal, underwriting, and final approval - before you get the keys.
This guide walks you through exactly what happens after your offer is accepted, step by step, so you know what to expect, what can go wrong, and how to stay in control all the way to closing.
Step 1: Earnest Money Deposit - Your First Deadline
Shortly after your offer is accepted, you’ll be required to submit an earnest money deposit. This deposit shows the seller that you’re serious and committed to moving forward.
Earnest money is typically 1%–3% of the purchase price and is held by the escrow or title company. The exact deadline is written into your contract, and missing it can put the deal at risk.
The good news: earnest money is not an extra cost. It’s credited toward your down payment or closing costs at closing - as long as the deal moves forward.
Step 2: Opening Escrow and Starting the Contract Clock
Once escrow is opened, the contract timeline officially begins. This is when contingency periods start counting down - inspection, appraisal, and financing deadlines now matter.
Escrow acts as a neutral third party that holds funds and documents until all contract conditions are satisfied. Think of escrow as the traffic controller that keeps the transaction organized.
Step 3: Home Inspection - What You’re Really Looking For
The home inspection is your opportunity to understand the property’s condition before final commitment. Inspectors evaluate structure, roof, plumbing, electrical systems, HVAC, and visible safety issues.
Inspections don’t guarantee perfection - they identify material issues so you can make informed decisions. Most homes, even well-maintained ones, come with findings.
Step 4: Inspection Negotiations and Repair Requests
After the inspection, buyers may request repairs, credits, or price adjustments. Sellers can agree, counter, or decline. This is a normal part of the process - not a sign that the deal is falling apart.
Focus on safety, structural, and system issues rather than cosmetic items. Strategic negotiation keeps the transaction moving while protecting your interests.
Step 5: Finalizing Your Mortgage Application
Preapproval gets you in the door - the full mortgage application gets you to closing. Your lender now verifies income, assets, credit, and employment in detail.
This is not the time to change jobs, open new credit, or make large purchases. Even small changes can delay or derail underwriting.
If you want to double-check affordability while underwriting is in progress, use the mortgage payment calculator or review your debt load with the DTI calculator.
Step 6: Home Appraisal - Confirming Market Value
The appraisal protects the lender by confirming the home’s value supports the loan amount. If the appraisal comes in low, buyers may renegotiate, bring extra cash, or walk away if contingencies allow.
Step 7: Mortgage Underwriting - The Deep Review
Underwriting is where lenders verify every part of your financial profile. Expect follow-up document requests - this is normal, not a red flag.
Step 8: Clear to Close - Almost There
“Clear to close” means the lender has approved the loan, pending final signatures. At this point, closing is scheduled and final numbers are prepared.
Step 9: Final Walkthrough
The final walkthrough ensures the property is in the agreed-upon condition and that repairs were completed. This is your last chance to identify issues before closing.
Step 10: Closing Day - Signing, Funding, and Getting the Keys
On closing day, you sign final documents, funds are transferred, and ownership officially changes. In many cases, you receive the keys the same day.
How Long Does It Take to Close After Offer Acceptance?
Most purchases close in 30–45 days, though cash deals may close faster and complex loans may take longer.
For the full buying journey, visit Home Buying Process & Affordability.
What Happens After Offer Accepted: FAQs
Can a deal fall apart after the offer is accepted?
Yes. Inspection, appraisal, or financing issues can still end a deal if contingencies aren’t satisfied.
Should I make big purchases while under contract?
No. New debt can change your approval status and delay or cancel closing.
Want to Make Sure You’re Fully Prepared to Close?
Re-run your numbers, stress-test your budget, and make sure your payment still feels comfortable before signing.