Author

Shelly Salas

Once you execute a contract, the excitement of buying a home quickly turns into action. Between signing and receiving the keys, you need to stay on top of several important deadlines and responsibilities. I often remind buyers that understanding the closing process early helps prevent delays, protect their investment, and keep everything on track. In this blog, we’ll walk through what happens after you go under contract and what to expect before closing.

The first three days set the tone for the entire closing process. Most contracts require earnest money to be deposited within that timeframe. If an option period was negotiated, the option fee must also be delivered. Missing either deadline can jeopardize contractual rights, including the ability to negotiate after inspections.

During this period, the home inspection is scheduled. The inspector evaluates the property from roof to foundation—reviewing structural components, electrical, plumbing, HVAC, and overall condition. After reviewing the inspection report, buyers may request repairs, negotiate credits, or reconsider moving forward. I always explain that the goal is not perfection, but protection.

At the same time, the title company receives the contract and opens escrow. If financing is involved, the lender starts processing the loan. For properties with a homeowners association, the agent typically requests HOA documents early to avoid unnecessary delays.

As the transaction progresses, the lender prepares to order the appraisal—often after the option period ends. While the inspection protects the buyer, the appraisal protects the lender by confirming the home’s market value. If lender-required repairs arise, they must be completed before closing.

Buyers will also receive requests from their lender for updated documents such as pay stubs, bank statements, or tax returns. Prompt responses are essential to reach the highly anticipated “clear to close.” I always advise clients not to open new credit lines, finance large purchases, or change employment during this time, as it could affect loan approval.

Behind the scenes, the title company conducts a title search, clears liens if necessary, and prepares closing documents. As closing approaches, the buyer completes a final walkthrough to confirm the property’s condition and agreed-upon repairs.

The closing process involves multiple parties working behind the scenes, strict timelines, and detailed coordination. While it may feel complex, most transactions close on time when deadlines are met and communication remains clear. With preparation and the right guidance, buyers can confidently move from contract to closing—and ultimately, to receiving their keys.