Having an offer accepted is a major milestone in the home-buying process. After hours of searching, comparing, and evaluating different options, it feels incredibly rewarding to reach this stage. But acceptance is only the beginning. Several important steps must be completed before ownership officially transfers and the property becomes yours.
Below is a clear explanation of what comes next and how to stay organized from acceptance to move-in day.
What It Means When an Offer Is Accepted
Once your offer is accepted, the property is officially under contract. You have entered into a legally binding agreement to complete the purchase, and the search for a home is effectively over. The next phase involves working through inspections, financing requirements, and contractual deadlines that lead to closing.
Many buyers already hold preapproval at this stage, which demonstrates financial readiness. After acceptance, it is important to promptly reconnect with the professionals assisting your transaction to begin moving through each required step.
Essential Steps After Your Offer Is Accepted
1. Submit Earnest Money
Your first responsibility is to provide the earnest money deposit. This is held in escrow as a sign of commitment. Meeting all deadlines and contractual obligations is important, as failing to do so may place this deposit at risk.
2. Schedule Property Inspections
Inspections help uncover issues that may not be visible during a basic viewing. A general evaluation usually comes first, with the option to add specialized inspections for items such as plumbing lines, ventilation systems, or potential environmental concerns. Findings may open the door to negotiating repairs or financial adjustments.
3. Provide Required Mortgage Documentation
Your lender will request documentation such as income verification, bank statements, and tax information. Submitting these materials quickly helps keep the underwriting process on schedule and avoids delays.
4. Complete the Appraisal
An appraisal ensures that the property’s value supports the purchase price. If the value matches or exceeds the contract amount, the loan proceeds normally. If it is lower, you may renegotiate or contribute additional funds.
5. Review Title Information
A title review confirms that the property has no unresolved legal claims or liens. Any issues must be corrected before closing so your ownership rights are fully protected.
6. Arrange Utility Transfers
Contact utility providers ahead of time to schedule service in your name as of the closing date. Overlooking this step may result in arriving at a property without functioning utilities.
7. Secure Homeowners Insurance
A homeowners insurance policy must be in place before closing. It protects the property and your belongings. Additional coverage can be added based on your preferences and needs.
8. Coordinate Repairs if Needed
If inspections reveal problems, you may request repairs, negotiate credits, or handle repairs yourself after closing. Items affecting safety or major functionality often need to be addressed immediately.
9. Complete the Final Walkthrough
This step confirms the property’s condition prior to closing. It ensures repairs were completed and that the home has not changed in any significant or unexpected way.
10. Attend Closing
Closing is when all documents are signed, and ownership is officially transferred. Once complete, you receive the keys and gain possession of the property.
Bottom Line
An accepted offer is a major accomplishment, but it marks the beginning of the final phase before becoming a homeowner. Carefully completing each step—from inspections to financing to the final walkthrough—helps ensure a smooth, confident transition into your new property.
Frequently Asked Questions
How long does it take to close after an offer is accepted?
Most closings are completed within 30 to 60 days. The exact timeframe depends on financing, required documentation, inspections, appraisal results, and any issues uncovered during the title review. Cash purchases typically close more quickly because they do not require loan approval.
Throughout this period, it is important to avoid taking on new debt or making major financial changes, as these can affect loan eligibility.
How is an offer submitted on a home?
An offer is written and submitted in the form of a purchase contract. It outlines the proposed price, earnest money, contingencies, and proof of financial ability. The seller may accept, decline, or request changes. Once both parties agree in writing, the property becomes under contract and the next steps begin.
King & Edge Real Estate Agents in Boise, Idaho
As experienced Boise real estate agents, we are honored to have the opportunity to serve you and be a part of your real estate journey. Let us guide you towards a successful and rewarding experience, where your goals become our goals, and your vision becomes a reality. Contact us today and discover the unparalleled service and expertise that sets King & Edge Real Estate apart as we help you sell your home in Boise or find your place to call home.
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Jordyn Majors Boise Real Estate Agent
Jordyn, a second-generation Realtor with over 10 years of residence in various Idaho locales, possesses extensive knowledge of all that Boise and its surrounding areas have to offer. Her love for Boise and passion for helping others have made her a go-to expert for diverse living experiences, from urban vibes to mountain retreats. Before transitioning to real estate, she gained experience as an administrative coordinator for a leading brokerage in Treasure Valley.
