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A lot of buyers think once the seller accepts their offer, the hard part is over. Truthfully…that’s when everything starts moving FAST.
Here’s a quick breakdown of what usually happens next:
- Earnest Money Deposit
This is the deposit showing you’re serious about purchasing the home. It gets held securely and is typically applied toward your closing costs or down payment later. (This is usually optional & negotiated)
2. Home Inspection
This gives buyers a better understanding of the home’s condition. Inspectors look at things like the roof, HVAC, plumbing, electrical, foundation, and more. No house is perfect —Even new construction can have issues. This is a time you can renegotiate, ask the seller to compensate or repair issues found in the inspection.
3. Appraisal
If you’re financing the home, the lender will order an appraisal to make sure the property value supports the loan amount.
4. Loan Processing
During this stage, your lender may ask for additional documents. This is normal. Try not to make major purchases, open new credit cards, or switch jobs during this time if possible.
5. Final Walk-Through
Usually completed shortly before closing to make sure the property is in the agreed-upon condition and any negotiated repairs were completed.
6. Closing Day
This is the day documents are signed, funds are transferred and ownership officially changes hands.Then….you get the keys!!
Buying a home can feel overwhelming, but understanding the process ahead of time makes it less stressful. A good Realtor helps guide you through every step so you always know what’s happening next.
