Under Contract
Congratulations on accepting an offer! Here's what happens next as we navigate from contract to closing day.
The Contract-to-Close Journey
Understanding the process helps reduce stress and ensures a smooth transaction.
Offer Acceptance
Review and negotiate offers, accept the best one, and execute the purchase agreement.
Due Diligence Period
Buyer conducts inspections and reviews property disclosures. Be prepared for negotiation requests.
Contingency Removal
Buyer removes contingencies (inspection, financing, appraisal) as conditions are satisfied.
Closing Preparation
Final walkthrough, title work completion, and preparation for closing day.
Typical 30-Day Timeline
While timelines can vary, here's what a typical transaction looks like.
Execute purchase agreement, earnest money deposited
Buyer schedules and completes home inspection
Inspection negotiations and repair agreement
Appraisal ordered and completed
Buyer finalizes loan approval
Final walkthrough and closing
Your Responsibilities
Maintain the property in showing condition
Complete any agreed-upon repairs
Keep utilities connected until closing
Provide access for inspections and appraisal
Gather documents requested by title company
Respond promptly to requests and questions
Begin planning your move
Maintain homeowner's insurance until closing
Common Issues & Solutions
Inspection Findings
Review carefully, negotiate repairs vs. credits, get competitive repair bids
Low Appraisal
Provide comparable sales data, request reconsideration, negotiate with buyer
Buyer Financing Issues
Stay in communication, have backup plans, know your options
Title Issues
Work with title company to resolve liens, easements, or other complications
Seller Pro Tips
Advice from hundreds of successful transactions
Stay calm during inspection negotiations
Most inspection issues are negotiable. Don't panic. Let me guide you through options.
Keep the home showing-ready
Until contingencies are removed, another buyer could come along if this deal falls through.
Respond promptly
Delays from your end can frustrate buyers and jeopardize the sale. Quick responses keep things moving.
Start packing strategically
Begin with rarely used items. Don't pack essentials until you're clear to close.
Get repair bids before agreeing
If buyers request repairs, get contractor estimates so you know actual costs before negotiating.
Plan your move early
Book movers, arrange utilities, and plan logistics before closing crunch time.
Under Contract FAQs
Can the buyer back out after we're under contract?
Buyers can exercise contingencies (inspection, financing, appraisal) to back out. Once contingencies are removed, it's much harder for them to cancel.
What if the appraisal is lower than the sale price?
Options include: seller reduces price, buyer pays difference in cash, meeting in the middle, or challenging the appraisal. We'll strategize together.
Do I have to fix everything the inspector finds?
No. Negotiation determines what gets fixed. Focus on safety issues and significant defects. Cosmetic items are usually not required.
When do I get my money?
Proceeds are typically wired the same day as closing, sometimes the next business day. You'll have clear funds within 24-48 hours.