Under Contract: The Countdown Begins

That moment when you accept an offer on your home? It’s a huge relief—and the start of a whole new adventure! The “under contract” phase is when the real work begins, as everyone races against the clock to reach closing day. Here’s what you can expect, plus tips for keeping things on track until you hand over the keys.

The Timeline: What Happens Next?

Once you’re under contract, a series of important steps kick off. Most contracts outline deadlines for inspections, appraisals, and financing approval. Your agent will help you track these milestones, but here’s a general overview:

• Earnest Money Deposit: The buyer typically submits an earnest money deposit within a few days. This shows they’re serious—and if they back out without a valid reason, you may keep the deposit.
• Home Inspection: Buyers usually schedule an inspection within the first week. Be prepared for repair requests or negotiations based on the inspector’s findings.
• Appraisal and Financing: If the buyer is getting a loan, the lender will order an appraisal to confirm the home’s value. The buyer will also work on finalizing their mortgage approval.

How to Keep the Deal Moving Forward

• Stay Flexible: Respond quickly to requests for access or documents. Delays can cause stress for everyone, so keep communication open and proactive.
• Be Ready for Repairs: If the inspection uncovers issues, decide in advance which repairs you’re willing to tackle or whether you’d prefer to offer a credit.
• Keep Your Home “Show Ready”: Occasionally, the buyer or their lender may need to visit again before closing. A tidy home makes these visits go smoothly.

The Final Stretch

As closing day approaches, you’ll review and sign paperwork, confirm moving plans, and do a final walk-through with the buyer. Your agent will keep you informed every step of the way, so you’re never left guessing.

Going under contract is exciting, but it’s also a time to stay focused and organized. With the right support, you’ll be celebrating a successful sale before you know it!