Your Offer Was Accepted — Now What?
Being “under contract” means both you and the seller have signed a legally binding . The clock starts immediately. During this window — typically 30 to 45 days — you'll work through inspections, , final loan , and closing paperwork before you get the keys.
First step within 1–2 business days
Your agent or lender should open escrow and order the title search within 24–48 hours of signing. Confirm this has happened and get the title company's contact information right away.
The Typical Contract Timeline
Every transaction is slightly different depending on your lender, market, and contract terms — but most conventional financed purchases follow a structure similar to this:
Key Deadlines You Can't Miss
Your includes hard dates for each milestone. Missing one can cost you your protections — or your . Add every deadline to a shared calendar with your agent the day you go under contract.
Inspection contingency deadline
The date by which you must complete all inspections and formally request repairs, credits, or terminate the contract. Missing this date waives your right to negotiate based on inspection findings.
Appraisal contingency deadline
The date by which any appraisal shortfall must be resolved — either through renegotiation, an appraisal gap commitment, or termination.
Loan commitment deadline
The date your lender must confirm final mortgage approval. If your loan falls through after this date without a valid contingency, you could lose your earnest money.
Closing date
The date ownership officially transfers. Extensions are possible but require seller agreement and can sometimes trigger penalties.
Pro tip
Many buyers lose contingency protections simply by missing a calendar date — not because of an actual problem with the home. Create a shared calendar event for every deadline the day you go under contract.
Who's Involved Behind the Scenes
A real estate transaction involves far more than just you, the seller, and your agents. Several professionals are coordinating simultaneously — and delays from any one of them can affect your date.
Loan officer / underwriter
Verifies your finances, orders the appraisal, and issues final loan approval. Underwriting will request additional documents — respond immediately.
Home inspector
Evaluates the property's condition. You pay for this. Your agent should recommend 2–3 options, but you can choose your own.
Appraiser
Independently values the home for the lender. Ordered by the lender, paid by you. See the Home Appraisal Guide for more detail.
Title company / closing attorney
Researches the property's ownership history, resolves any title issues, and prepares all closing documents.
Homeowners insurance agent
Sets up your policy, which must be active before closing. Shop for this early — some homes in high-risk areas take longer to insure.
Both real estate agents
Coordinate logistics between all parties, handle paperwork, and negotiate on your behalf throughout the contract period.
Staying on Track Financially
Lenders re-verify your financial picture right up until day — sometimes running a final credit check 24–48 hours before you sign. Anything that changes your credit, income, or debt during this period can delay or kill your approval.
Avoid all of the following until after closing:
- Opening new credit cards, financing a car, or taking on any new debt
- Making large, undocumented deposits into your bank accounts
- Quitting or switching jobs — especially changing from salaried to self-employed
- Closing existing credit accounts, which can lower your score
- Making large purchases (appliances, furniture) before the loan funds
Keep all required documents — pay stubs, bank statements, tax returns — organized and ready for last-minute requests. Delays in providing documents are one of the most common and most avoidable causes of delays.
Common Reasons Deals Fall Through
Most contracts close successfully. But knowing the most common risk helps you stay ahead of problems before they become deal-killers.
Inspection reveals major issues the seller won't address
A serious structural, mechanical, or safety problem can lead to impasse. This is why negotiating inspection credits or repairs carefully — and knowing your walk-away number — matters.
Appraisal comes in below purchase price
When the lender's appraisal is lower than the agreed price, you must cover the gap, renegotiate, or exit. See the Home Appraisal Guide for your options.
Buyer's financing falls through
Job loss, a new debt, a credit score drop, or documentation issues can cause underwriting to deny or delay your loan after you're under contract.
Title problems surface
Liens, ownership disputes, or errors in public records can complicate or delay closing. The title company works to resolve these, but complex issues take time.
Buyer or seller gets cold feet
Less common, but it happens. Contract terms and contingencies govern who owes what if either party backs out without a valid reason.
Stay in close contact
Respond quickly to any request from your lender or agent. Delays in providing documents are among the most avoidable causes of closing problems. Keep your phone on and check email regularly during this period.
What Should You Do Next?
The two most important events in the contract period are the home inspection and the appraisal. Each has its own strategy — especially if problems arise.
Schedule your home inspection first
Days 1–3 of contract · Urgent deadline
The inspection deadline is the earliest hard deadline in the contract. Book your inspector within 24–48 hours of going under contract. Learn what to look for, how to read the report, and how to negotiate repairs.
Home Inspection GuideKnow what to do if the appraisal comes in low
Days 10–25 · Ordered by your lender
Your lender will order an independent appraisal to confirm the home is worth what you agreed to pay. If it comes in below price, you have options — but only if you know them in advance.
Home Appraisal Guide