Your Offer Got Accepted. Now What?

You found the one, submitted an offer, and got the exciting news: you’re officially in contract! 

While it's a huge milestone worth celebrating, this is where the real work begins. There are several key steps that happen between now and getting the keys to your new home. Let’s break down the journey from accepted offer to closing day.

Day 1–3: Submit Your Earnest Money Deposit (EMD)

The first step after your offer is accepted is making your Earnest Money Deposit, typically 1–3% of the purchase price, which is held in escrow.

This deposit shows the seller you’re serious about buying and officially kicks off the escrow process. It’s credited toward your down payment or closing costs when the deal closes—but if you back out without a valid contingency, you could risk losing it.

💡 Tip: Set a calendar reminder. This is a strict deadline, and late delivery can put your contract at risk.

Day 1–17: Schedule Inspections & Address Contingencies

This is your opportunity to do your due diligence and ensure the home is in the condition you expect.

Here are the most common inspections:

• Home Inspection: A top-to-bottom review of the home’s structure, systems, and safety.

• Pest Inspection: Looks for signs of termites, dry rot, and other wood-destroying organisms.

• Roof, Sewer, Chimney, or HVAC Inspections (Optional): Depending on the age and condition of the home, additional inspections might be smart.

Based on what’s uncovered, you can negotiate repairs, request a credit, or—in extreme cases—walk away using your inspection contingency.

💡 Tip: Don’t skip inspections, even on newer homes. They can reveal hidden issues that could cost you later.

Appraisal & Loan Contingency

If you’re financing the home, your lender will order an appraisal to confirm the home’s value aligns with the purchase price. If it comes in low, you’ll need to either:

• Renegotiate the price

• Pay the difference in cash

• Or cancel the deal (if you have an appraisal contingency)

Meanwhile, the loan contingency allows time to finalize your mortgage. Your lender will verify your income, assets, credit, and the property itself before giving the green light to fund your loan.

💡 Tip: Stay responsive to your lender’s requests—delays in paperwork can delay your close.

Final Walkthrough

Typically scheduled 1–3 days before closing, the final walkthrough is your chance to:

• Confirm the property is in the same condition as when you made your offer

• Ensure any agreed-upon repairs were completed

• Check that the home is free of unwanted items or damage from the sellers’ move-out

This isn’t the time for new negotiations—but if something’s off, your agent will guide you through your options.

💡 Tip: Bring your inspection report or checklist for reference during the walkthrough.

Closing Day = Homeowner Status

Once all contingencies are removed, your loan is approved, and funds are transferred, you’ll sign the final closing documents. The title company will officially record the sale with the county—and that’s when the magic happens.

You get the keys. You get the house. You’re a homeowner! 🏡✨

💡 Tip: Avoid big purchases or credit changes during escrow (like buying a car or opening a new credit card). These can affect your loan approval last-minute.

How Long Does Escrow Take?

The standard escrow period is 21–30 days, but it can vary depending on the terms of your contract and your lender’s speed.

Having a knowledgeable agent and a proactive transaction coordinator helps keep things on track—and ensures you don’t miss a single deadline.

Let’s Make It Seamless

Buying a home is a big deal, but it doesn’t have to be overwhelming. When you have the right team guiding you through every step, you can focus on what matters most—getting excited about your new space.

Ready to navigate escrow like a pro?
📩 Send me a message or schedule a call and let’s walk through your next steps together.

================

If you're looking to buy or invest in your first home in the Bay Area and have questions, feel free to reach out to our team of real estate experts at (650) 250-3050 or www.ZenCoastHomes.com/connect.