What Happens After You Go Under Contract on a Home

Having your offer accepted is exciting, but many buyers are surprised to learn that there are still several important steps between going under contract and officially getting the keys.

This stage of the process often moves quickly and involves inspections, financing, title work, paperwork, and multiple deadlines all happening at once.

At Carey Premier Property Group, we help buyers throughout Bellefontaine, Indian Lake, Marysville, Urbana, and surrounding Logan County communities navigate this part of the process with confidence and clarity.

Your Earnest Money Deposit Is Submitted

Once you’re officially under contract you’ll typically submit your earnest money deposit, if it’s part of your offer.

Earnest money is a good-faith deposit that shows sellers you’re serious about moving forward with the purchase.

The funds are usually held in escrow and later applied toward your closing costs or down payment at closing.

The Inspection Period Begins

One of the first major steps after going under contract is scheduling the home inspection.

A home inspection helps evaluate the condition of the property and may identify:

• Roofing concerns
• Electrical issues
• Plumbing problems
• HVAC concerns
• Structural issues
• Safety items
• General maintenance needs

No home is perfect, including newer homes. Inspections are designed to provide information and help buyers better understand the property they’re purchasing.

Depending on the results, there may also be negotiations regarding repairs or credits.

Your Loan Process Moves Forward

After going under contract, your lender begins working through the next phase of your mortgage approval.

This may include:

• Verifying financial documents
• Reviewing bank statements
• Ordering the appraisal
• Final underwriting review
• Confirming employment and income

It’s very important to avoid making major financial changes during this stage.

Try to avoid:

• Opening new credit accounts
• Financing vehicles
• Missing payments
• Large unexplained deposits
• Changing jobs suddenly

Even small changes can sometimes affect final loan approval.

Our blog First-Time Home Buyer Tips to Help You Get Started covers this in more detail.

The Home Appraisal Takes Place

Your lender will usually require a home appraisal to confirm the property’s value.

The appraisal helps ensure the home is worth the agreed-upon purchase price based on current market conditions and comparable sales.

If the appraisal comes in lower than expected, there may be additional negotiations between the buyer and seller.

Title Work and Closing Preparation

During this stage, the title company works through several important items behind the scenes.

This includes:

• Verifying legal ownership
• Reviewing public records
• Checking for liens or issues
• Preparing closing documents
• Coordinating funds and paperwork

Your real estate team, lender, and title company all work together to keep the transaction moving smoothly toward closing day.

You’ll Receive Closing Disclosures

A few days before closing, you’ll receive your Closing Disclosure.

This document outlines:

• Final loan terms
• Monthly payment details
• Interest rate
• Closing costs
• Cash needed at closing

Reviewing these numbers ahead of time helps avoid surprises on closing day.

Final Walkthrough

Before closing, buyers typically complete a final walkthrough of the home.

This is your opportunity to confirm:

• Agreed-upon repairs were completed
• The home is in expected condition
• No major issues have changed since inspections
• Included items remain in the home

The walkthrough is not another inspection, but rather a final confirmation before ownership transfers.

Closing Day

Closing day is when everything officially becomes final.

You’ll sign documents, complete your loan paperwork, submit final funds, and officially take ownership of the home.

While the process can seem intimidating ahead of time, most buyers are surprised by how straightforward closing appointments actually feel once they arrive.

Our blog What to Expect at Closing When Buying a Home explains this stage in more detail.

Stay Flexible Throughout the Process

Even smooth transactions can experience small delays or unexpected hurdles along the way.

Inspection negotiations, underwriting requests, appraisals, and scheduling changes are all common parts of the process.

Having experienced local guidance can make a huge difference in helping everything stay on track while reducing unnecessary stress.

Ready to Start Your Home Search?

Whether you’re preparing to buy your first home or already actively searching, Carey Premier Property Group is here to help guide you through every stage of the process.

If you’re thinking about buying a home in Bellefontaine, Indian Lake, Marysville, Urbana, or anywhere throughout Logan County, we’d love to help you take the next step.

You may also find these blogs helpful:

• What to Expect as a First-Time Home Buyer
• First-Time Home Buyer Tips to Help You Get Started
• How to Make a Competitive Offer on a Home
• What to Expect at Closing When Buying a Home