What Happens After Your Offer Is Accepted — A Week-by-Week Guide
Once your offer is accepted and you are officially under contract, you enter one of the most active and time-sensitive phases of the buying process. Here is a realistic week-by-week guide to what happens between acceptance and closing.
Timeframe
Days 1–3
Sign the Agreement of Sale. Deliver earnest money deposit to escrow (typically 1%–2% of purchase price). Hire your home inspector and schedule inspection promptly — inspection periods in Chester County are typically 10 days.
Days 3–10
Complete home inspection. Review the inspection report carefully with your agent. Negotiate repairs, credits, or price reductions based on significant findings. Decide whether to proceed, request remediation, or (if within your contingency window) withdraw.
Days 7–14
Submit a complete mortgage application to your lender (if not already done). Provide requested documentation: pay stubs, W-2s/tax returns, bank statements, and employment verification. Lender orders the appraisal.
Days 14–21
Lender processes the file. Appraisal is conducted. Title search is ordered by the title company. Begin homeowner's insurance shopping; you will need a binder before closing.
Days 21–30
Appraisal report delivered. If it meets or exceeds the purchase price, the mortgage process continues. If it comes in low, you and the seller must negotiate a resolution. Lender issues a Conditional Approval with any remaining conditions.
Days 30–38
Remaining mortgage conditions are satisfied (updated pay stubs, letter of explanation for any inquiries, and HOA documents if applicable). Lender issues Clear to Close.
Days 38–42
Receive Closing Disclosure at least 3 business days before closing, review it carefully, and verify all numbers against the Loan Estimate. Complete final walk-through of the property (typically 24–48 hours before closing).
Closing Day
Sign all documents at the title company. Transfer funds (wire or certified check). The deed is recorded. Keys are delivered. You own a home.
Note: Cash transactions close significantly faster, often 14 to 21 days from accepted offer, because there is no mortgage process, appraisal, or lender underwriting involved.
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403 W Lincoln Highway, Suite 106, Exton, PA 19341