What Happens When a Home Buyer Accepts a Seller’s Offer?

What Happens When a Home Buyer Accepts a Seller’s Offer?
A Blog by Allen Deaver, Asset Realty

Once a homebuyer accepts a seller’s offer, the deal is officially “under contract”—but that doesn’t mean the process is over. In fact, this is when the real work begins to turn the agreement into a successful closing.

Here’s what happens next:

 
Earnest Money is Delivered

The buyer submits earnest money, usually within 1–3 days, to show serious intent. This amount is held in escrow and goes toward the purchase price at closing.

 
Option Period Begins (in Texas)

If the contract includes an option period, this is the buyer’s window (typically 5–10 days) to conduct inspections and negotiate repairs. During this time, the buyer can back out for any reason, though they may forfeit the option fee.

 
Inspections Are Completed

Most buyers schedule a professional home inspection right away. This can include general, termite, roof, HVAC, or foundation inspections. The results might lead to repair requests, price negotiations, or even contract termination if major issues arise.

 
Appraisal is Ordered

If the buyer is financing the home, their lender will order an appraisal to confirm the property’s value aligns with the loan amount. If it appraises low, the buyer and seller may need to renegotiate, or the buyer may bring additional funds to the table.

 
Title Search and Survey

The title company will conduct a search to ensure the property has a clear title—free of liens or legal issues. A property survey may also be needed to verify boundaries and setbacks.

 
Loan Processing

The lender verifies the buyer’s finances, employment, and credit. This process includes underwriting, which can take a few weeks. It's essential that the buyer avoids making major financial changes during this time (like financing a car or opening new credit cards).

 
Final Walkthrough

A day or two before closing, the buyer usually completes a final walkthrough to ensure the home’s condition hasn’t changed and that any agreed-upon repairs have been completed.

 
Closing Day

The buyer and seller sign all necessary documents, and funds are transferred. Once everything is finalized and the deed is recorded, the buyer gets the keys and officially becomes the new homeowner!

 
Final Thoughts

As your trusted real estate partner, I help guide you through every step from contract to closing. Whether you’re buying your first home or your fifth, understanding what happens after an offer is accepted can make the process smoother and less stressful.