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Accepted Does Not Mean Finished
The real work begins after your offer is accepted. Every deadline matters and every detail counts.
Getting your offer accepted is a milestone worth celebrating, but the transaction is far from over. The under-contract period is a carefully sequenced series of deadlines, inspections, and approvals that must be managed with precision. Missing a single deadline can put your earnest money at risk or give the seller grounds to walk away. This module explains what happens next and how I keep everything on track.
The Transaction Phase Begins
Once the purchase agreement is fully executed, the clock starts on every deadline in the contract. This phase requires a shift in mindset from searching to executing. Your responsiveness to requests, your ability to provide documents quickly, and your availability for scheduling all directly impact whether we close on time. I manage the timeline and coordinate every party involved, but I need you engaged and responsive throughout.
Milestone Timeline
The under-contract period follows a defined sequence. While exact timelines vary by contract, here is the typical flow for a 30 to 45 day closing.
Earnest Money
Deliver earnest money deposit to the title company
Home Inspection
Schedule and complete home inspection
Negotiate Repairs
Negotiate repairs or credits based on inspection findings
Appraisal
Appraisal ordered and completed by the lender
Underwriting
Final underwriting review and conditional approval
Closing
Final walk-through, clear to close, and closing day
What I Am Managing
Behind the scenes, I am coordinating multiple parties to keep your transaction moving forward. Each one has their own timeline, requirements, and communication style. My job is to make sure everyone is aligned and nothing falls through the cracks.
Your Lender
Coordinating document requests, tracking underwriting progress, and ensuring your loan stays on schedule for closing.
Title Company
Ordering the title search, managing earnest money, preparing closing documents, and scheduling the closing appointment.
Inspectors
Scheduling the home inspection, coordinating any specialty inspections like radon or sewer scope, and reviewing findings with you.
Listing Agent & Seller
Communicating repair requests, scheduling access for the appraisal, negotiating any issues that arise, and confirming closing logistics.
What I Need From You
A smooth transaction depends on teamwork. While I handle the coordination and communication, there are specific things I need from you to keep everything on schedule.
- Respond to calls, texts, and emails within a few hours during business days
- Provide requested documents to your lender within 24 hours when possible
- Maintain financial stability: no new debt, no large purchases, no job changes
- Be available for inspection attendance and final walk-through scheduling
- Make decisions promptly on repair requests, credits, and other negotiation items
- Ask questions early rather than waiting until a deadline is approaching
YOUR PREFERENCES
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Frequently Asked Questions
Missing a deadline can have serious consequences. Depending on which deadline is missed, the seller may be able to terminate the contract or you could forfeit your earnest money. I track every deadline and send reminders well in advance so this does not happen.
In most cases, the seller is bound by the purchase agreement once it is fully executed. However, there are limited circumstances where a seller can terminate, such as if you miss a deadline or fail to perform under the contract. I protect your position by ensuring we meet every obligation on time.
Typically 30 to 45 days from acceptance to closing, though this can be shorter or longer depending on the terms you negotiate. Cash purchases can close in as little as two weeks. Transactions with financing typically need at least 30 days for the lender to complete underwriting.
A job loss during the transaction can affect your loan approval. If this happens, notify your lender and me immediately. Depending on the circumstances, we may be able to work through it, but transparency is critical. Hiding a job change from your lender can result in the loan being denied at the last minute.
Questions? (317) 660-5745 or sheldon@mycarmelrealty.com
Questions? (317) 660-5745 or sheldon@mycarmelrealty.com