The steps from offer to closing are: submit your offer, negotiate and execute the contract, deposit earnest money, schedule and complete the home inspection, negotiate repairs, order the appraisal, complete loan processing and underwriting, review your Closing Disclosure, do the final walkthrough, and close on the property. The entire process from accepted offer to keys typically takes 30 to 45 days.
Step 1 -- Submit Your Offer
Your agent prepares the offer including: purchase price, earnest money amount, contingencies (inspection, appraisal, financing), desired closing date, and any seller concessions requested. This offer is submitted to the listing agent for the seller's review.
The offer letter itself is a legal document, so every detail matters. Your agent will walk you through each term so you understand what you are agreeing to before it goes to the seller. The strongest offers include a pre-approval letter, reasonable earnest money, and terms that signal you are a serious, qualified buyer.
Step 2 -- Negotiation and Contract Execution
The seller may accept, reject, or counter your offer. If they counter, you can accept their terms, counter back, or walk away. Negotiation continues until both parties agree on every term. Once an agreement is reached, both parties sign the purchase contract. This is when the clock officially starts ticking on all the timelines and deadlines in the contract.
Every counteroffer restarts the clock on the seller's response deadline, so stay close to your phone and respond quickly. A slow response can cost you the house in a competitive market.
Step 3 -- Deposit Earnest Money
Typically 1 to 2% of the purchase price. This money is deposited with the title company within 3 days of contract execution. It shows the seller you are serious and acting in good faith. The earnest money is held in a trust account and applied to your down payment at closing.
If the deal falls through for a reason covered by your contingencies (inspection issues, financing falls through, low appraisal), the earnest money is refunded to you. If you back out for a reason not covered by a contingency, the seller may keep the earnest money as compensation for taking the home off the market.
Step 4 -- Home Inspection
Schedule the inspection within 7 days of contract execution. Attend the inspection if possible -- you will learn more about your future home in those 2 to 3 hours than any report can teach you. The inspector checks the roof, foundation, HVAC, electrical, plumbing, appliances, windows, doors, and more.
After the inspection, review the report with your agent. Based on the findings, you can negotiate repairs or credits with the seller. You may request a price reduction, ask the seller to complete specific repairs before closing, or accept the home as-is if the issues are minor.
Step 5 -- Appraisal
Your lender orders the appraisal to confirm the home is worth the purchase price. The appraiser visits the property, measures it, takes photos, and compares it to recent sales of similar homes in the area. The appraisal must meet or exceed the purchase price for your loan to proceed as structured.
If the appraisal comes in low, you have options: negotiate the price down with the seller, make up the difference with a larger down payment, challenge the appraisal if there are errors, or walk away if your appraisal contingency allows it. This is one of the most common hurdles in the process, so do not panic -- your agent has handled this before.
Step 6 -- Loan Processing and Underwriting
Your loan officer submits your complete file to the processing and underwriting departments. The processor verifies your income, assets, employment, and any other conditions. The underwriter reviews everything to ensure you meet the loan program requirements.
This is the longest phase -- typically 15 to 25 days. The underwriter may request additional documents: bank statements, pay stubs, letters of explanation, or tax returns. Respond to every request immediately. A 2-day delay on your part can push your closing back by a week. Stay on top of your email and respond the same day whenever possible.
Step 7 -- Review Closing Disclosure
You will receive your Closing Disclosure at least 3 business days before closing. This document spells out every detail of your loan: the interest rate, monthly payment, closing costs, taxes, insurance, and fees. Compare it to your Loan Estimate to spot any changes.
Go through the Closing Disclosure line by line. Ask your loan officer about anything that looks different from what you expected. Do not sign until you understand every number on the page. This is your last chance to catch errors before the loan funds.
Step 8 -- Final Walkthrough
Usually done 24 to 48 hours before closing. You visit the property one last time to verify that all agreed-upon repairs have been completed and the property is in the same condition as when you made your offer. Check that all systems and fixtures are working, no new damage has occurred, and the home is empty of the seller's belongings.
Document everything with photos and video. If something is wrong, your agent can address it before you sit at the closing table. The final walkthrough is not the time to be shy -- if something seems off, speak up.
Step 9 -- Closing Day
Bring a valid government-issued ID and a cashier's check (or wire confirmation) for any remaining funds due at closing. You will sit down with the closing agent and sign a stack of documents -- the promissory note, deed of trust, closing disclosure, and more. The signing takes about 30 to 60 minutes.
Once all documents are signed and the loan funds, you receive the keys. The home is yours. Congratulations -- you are a homeowner.