From “I Don’t Want to Rent Anymore!”, to Offer, and Keys: What Happens When You Buy a Home.

Buying a home is exciting — but once your offer is accepted, it can feel like a whirlwind of paperwork, deadlines, and new terminology. If you’ve ever wondered “What happens now?” this guide breaks down every major milestone between an accepted offer and the moment you get your keys.

Let’s walk through the process clearly, calmly, and in order.

🗝️ 1. Offer Accepted — Time to Open Escrow

The moment the seller accepts your offer, the clock starts ticking.

Here’s what happens right away:

• You submit earnest money (which can be anywhere from $500 to 1-2% of the purchase price, depending on funds you have available for the purchase)

• A title company opens escrow.

• Your lender (hi, that’s me 👋) gets a copy of the contract and starts with updating any outdated documents (paystubs or bank statements) and finalizing your loan file.

This moment feels exciting — and real. You’re officially under contract!

🧾 2. The Option Period (TX) /Inspection Contingency Period (CA)

Depending on the state and the period written into the contract, buyers typically get a 5–10 day option/contingency period to do inspections and negotiate repairs.

During this window:

• You hire a home inspector

• The inspector checks foundation, roof, HVAC, plumbing, electrical, and structure

• You review the report with your agent

• You negotiate repairs or credits (if needed)

💡 Pro Tip: Don’t panic at the inspection report. Every home — even new builds — will have issues listed. The goal is understanding what’s important, not expecting perfection.

📉 3. The Appraisal

Your lender orders an independent appraisal to determine the home’s fair market value.

The appraisal can come in:

• At value (perfect!)

• Above value (even better!)

• Below value (requires renegotiation and/or strategy)

When an appraisal comes in it would be typically completed with a value showing “AS IS” or “Subject to Repairs”. If there are repairs listed by the appraiser, these are to be repaired prior to closing.

I help clients navigate appraisal outcomes every day — nothing here should ever feel scary.

🏦 4. Loan Processing & Underwriting

Once inspections are done and appraisal is ordered, your loan enters the processing stage.

This is where the magic happens behind the scenes:

• (Re)Verification of income, employment, and assets

• Review of documents

• Finalizing loan terms (and locking the interest rate, if not locked yet)

• Ensuring guidelines are met

Then it goes to underwriting — the final approval authority.

You may be asked for updated documents or letters of explanation.

Quick responses = faster closing.

✍️ 5. Clear to Close

This is the best phrase in the mortgage world.

“Clear to Close” means:

• Underwriting has issued a final approval on your file

• Docs are being prepared

• Your closing date is set

• You're officially at the finish line

You review your Closing Disclosure (CD) at least three days before closing — this shows your final numbers, payment, and closing costs.

🎉 6. Closing Day

Here’s what happens at closing:

• You bring your valid ID

• Sign final loan documents

• Transfer your remaining funds to close (via wire or cashier’s check)

• The lender funds the loan

• The county records the deed

Once recorded, the home is officially yours.

And then comes the moment you’ve been waiting for…

🔑 7. You Get Your Keys

Congratulations — you’re a homeowner!Whether you’re unpacking boxes the same day or planning a housewarming party, this moment is worth celebrating.

From here, your lender becomes your long-term partner — helping with refinancing, future purchases, tax questions, home equity, and everything that comes next.

💬 Ready for a Smooth Homebuying Experience?

I guide my buyers step-by-step through the entire process so you never feel confused or overwhelmed — just informed, prepared, and excited.

📞 Call/Text: 925-305-6639

📧 Email: swhiting@loandepot.com

🌐 Apply: www.homeloansbystephanie.ninja

📅 Schedule a Call: Book time with Me