Published November 25, 2025

What Happens After You Go Under Contract

Written by Maddie Wescott ~

Congratulations — your offer was accepted! 🎉 Now What?

That’s a big step toward making your dream of homeownership a reality. But once you’re “under contract,” what exactly happens next? Here’s a breakdown of the steps between having your offer accepted and getting the keys to your new home.

1. Submit Your Earnest Money Deposit

After your offer is accepted, you’ll provide an earnest money deposit, typically 1–3% of the purchase price. This shows the seller you’re serious and ready to move forward. The deposit is held in escrow and applied to your down payment or closing costs when the sale is finalized.

2. Schedule Your Home Inspection

Next, you’ll arrange a professional home inspection.
Your inspector will evaluate the property’s structure, roof, electrical systems, HVAC, plumbing, and more — ensuring there are no major hidden issues. After you receive the report, you can:

Request repairs or credits
Renegotiate the purchase terms if needed
Move forward confidently if everything checks out

A quality inspection is especially important where properties often feature historic details and older construction.

3. Finalize Your Mortgage and Appraisal

If you’re financing your purchase, your lender will begin the mortgage underwriting process. You’ll provide updated financial documents and the lender will order an appraisal to confirm that the property’s value matches the agreed purchase price.
Professional appraisers consider neighborhood trends, local schools, and comparable home sales in nearby areas.

4. Title Search and Homeowners Insurance

The title company will conduct a title search to ensure the property is free from liens or legal issues. You’ll also set up homeowners insurance, which protects your investment and is required by your lender.

5. The Appraisal Results

If the appraisal value comes in at or above the contract price — great news, you’re on track!
If it comes in below, your agent can help you renegotiate the price or explore your options for covering the difference. This is common in competitive real estate markets, where homes can attract multiple offers.

6. The Final Walk-Through

A day or two before settlement, you’ll complete a final walk-through of the home. This ensures everything is in the same condition as when you made your offer and that any agreed-upon repairs have been completed.

7. Closing Day: Get the Keys!

On closing day, you’ll meet with your agent, lender, and title company to sign final paperwork, pay closing costs, and officially take ownership of your new home.
Once the deed is recorded, congratulations — you’re a homeowner! 🎉

Tips for a Smooth Under-Contract Process

Respond quickly to your lender and agent
Avoid making large purchases or opening new credit lines
Keep financial documents handy
Plan to transfer utilities before closing day

The Bottom Line

Going under contract on your next home is an exciting milestone, but it’s just the start of the final stretch. With the right real estate agent guiding you, you can navigate inspections, financing, and closing with confidence — and move into your dream home without stress.

Ready to Find (or Close On) Your Dream Home?

Whether you’re buying your first home or upgrading to a luxury property, the Premier Home Team is here to guide you every step of the way.
✅ Expert negotiation
✅ Local market knowledge
✅ Seamless support from offer to closing