Getting the yes on your offer is a great feeling. Then a lot of buyers ask me the same thing: okay, now what? Here's what usually happens between an accepted offer and closing day, so you know what's coming.
1. Earnest money
Soon after your offer is accepted, you'll deliver your earnest money deposit. It shows the seller you're serious, and it's typically applied toward your purchase at closing. Your contract spells out how much and when it's due, so watch that deadline.
2. Home inspection
This is one of the most important steps. A professional inspector goes through the home and gives you a report. Once it comes in, we'll read it together and decide what matters. Depending on your contract, you may be able to ask the seller for repairs, a credit or a price change.
My advice: every home has something. Focus on safety issues and big-ticket items like the roof, foundation, HVAC, plumbing and electrical.
3. Your loan moves forward
Your lender will ask for updated paperwork, so keep an eye on your email and send things quickly. This is also the time to keep your finances steady. Hold off on opening new credit cards, financing furniture or changing jobs until after closing unless you talk with your lender first.
4. Appraisal
If you're getting a loan, your lender orders an appraisal to confirm the home's value supports the loan amount. If it comes in lower than the price, don't panic. We'll talk through your options together.
5. Title work and insurance
A title company researches the property's history to make sure the seller can transfer clear ownership. You'll also set up homeowners insurance, which your lender will need proof of before closing.
6. Final walkthrough and closing
Right before closing, we'll walk through the home to make sure it's in the condition we agreed on. Then it's closing day. You'll sign your paperwork, the funds are sent and you get your keys.
How long does it all take?
Every deal is different, but many financed purchases close in roughly 30 to 45 days. Your contract sets the actual dates, and I'll keep everything on track so you're never guessing where things stand.
You don't have to keep track of it alone
There are a lot of moving pieces, and my background in transaction coordination means I watch every deadline closely. If you're getting ready to buy, grab my free Kentucky Buyer's Guide or reach out and we'll talk through your plan.
