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What happens once your offer is accepted on your new house? Before you start celebrating, there are a few steps you have to take prior to sitting at the closing table.

Typically, transactions in our market are financed by a lender or bank. As a result, most transactions close in about 45 days.

After your offer is accepted, one of the first things you need to do is to make sure that you apply for a mortgage. If you were previously pre-approved before your homesearch, then we have probably already had contact with your lender, so we can send your documentation directly to them.

Normally, it will take 30 to 35 days for the bank to approve your financing and send you a commitment letter. You need to apply for a mortgage as soon as possible because the bank will likely ask you for additional items, and you need to get those to them right away.


Make sure you send your documentation into the bank as soon as possible.


Before the deal closes, your lender will want an appraisal for the home to make sure that the house is actually worth what they are paying for it. That way, they are protected if you default on the loan.


If you don’t finance your home purchase because you plan to pay in cash, we will need a proof of funds letter to deliver to the seller within seven days. Even if you do go this route, you still may want to order an appraisal as a safeguard for yourself.

You also need to select an inspector and set up a home inspection. Inspections run about $400 to $500. If the inspector finds something defective in the home, we will help you negotiate repairs with the seller or, if need be, even get you out of the purchase.


You have the option to order additional inspections and tests on the home before you buy it. We recommend testing for radon gas, an odorless gas naturally produced from the ground that can cause cancer. If you are buying a home in a rural area, you may need to test your septic system. All of these inspections typically run between 10 and 14 days.


We help coordinate with you so this entire process goes smoothly and painlessly. We will send your paperwork to the lender, schedule your inspections, and attend them with you so that we know if there is anything we need to negotiate with the seller.


Knowing what to expect from the home buying process will help you make it a successful one. If you have any other questions about this process or about real estate in general, give me a call or send me an email. I would be happy to help you!

Posted by Shawn Kriewaldt on


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