Congrats, you’re officially under contract! Whether you’re paying cash or financing your new home, you’re one step closer to closing day. But what happens now?

Let’s break it down so you know exactly what to expect with a smooth process from here to the closing table.

Scenario 1: You’re Paying Cash

Cash deals are typically faster and simpler since you’re not waiting on a lender. Here’s what your next steps look like:

1. Deposit Escrow
You’ll need to send your escrow deposit, also called your “good faith” deposit, within the timeframe outlined in your contract, typically within 1 to 3 business days of going under contract. The title company will send you wire instructions for your deposit. Always call the title company directly using their main number to verify those instructions before sending funds. This is a key step to protect yourself from wire fraud.

2. Schedule Your Inspections
Unless you’ve waived inspections because the seller has provided their own recent inspection report and you’ve decided to accept that, this is your opportunity to hire your own inspector. I have a trusted inspection company I can recommend, but you’re welcome to use any licensed inspector you choose.

3. Secure Homeowners Insurance
Even if you’re paying cash, it’s important to get a homeowners insurance policy in place before closing. This protects you from the moment you own the property.

4. Order Survey (if needed)
If the seller has a previous survey, we can request a copy and see if the title company will accept it, which can save you money. If not, title will arrange for a new one to be completed.

5. Review Title Commitment
The title company will send us the title commitment to review. This document confirms the seller’s legal right to sell the home and lists any liens, easements, or restrictions.

6. Prepare to Close
Once inspections and due diligence are complete, the title company will prepare your closing documents. I recommend wiring your funds the day before closing to avoid delays. On closing day, you’ll sign your documents and I’ll hand you your keys!

Typical Timeline: 7 to 15 days, but can vary

Scenario 2: You’re Financing the Purchase

If you’re getting a mortgage, there are a few extra steps, but we’ll guide you through them so nothing gets missed.

1. Deposit Escrow
Just like with a cash deal, your deposit is typically due within 1 to 3 business days of going under contract. The title company will send you wire instructions for your deposit. Always call the title company directly using their main number to verify those instructions before sending funds to protect yourself from wire fraud.

2. Schedule Your Inspections
You’ll usually have an inspection period of up to 15 days unless we negotiated differently to make your offer more competitive. This is when you can complete a general home inspection and any specialty inspections you choose. I have an inspector I trust and can recommend, but you can choose anyone you’d like.

3. Secure Homeowners Insurance
Your lender will require proof of homeowners' insurance before closing. Start shopping for quotes early so we can provide your lender with the insurance binder on time.

4. Order Survey 
We’ll request a copy of the seller’s existing survey if available to see if the title company will accept it. If not, we’ll order a new one.

5. Review Title Commitment
The title company will send us the title commitment to review. This ensures the home’s title is clear before closing.

6. Lender Orders Appraisal
Your lender will typically order the appraisal after your inspection period ends, once you’ve confirmed you’re moving forward with the purchase.

7. Complete Loan Conditions
You’ll continue to send updated documents to your lender such as bank statements, pay stubs, and any other requested information so underwriting can approve your loan.

8. Clear to Close
Once underwriting is complete and the appraisal meets value, you’ll get the all-clear from your lender.

9. Final Walkthrough
Usually done within 24 to 48 hours before closing to confirm the property is in the agreed-upon condition.

10. Closing Day
I recommend wiring your remaining funds the day before closing to avoid any delays. At closing, you’ll sign your documents,  and I’ll hand you your keys!

Typical Timeline: 30 days

Tips for a Smooth Closing Process

• Avoid big purchases or credit changes during this time if you’re financing.
• Respond quickly to requests from your title company, lender, or agent to avoid delays.
• Always verify wire instructions by phone before sending any funds.
• Ask questions so you feel confident every step of the way.