Congratulations! Your offer on a house was accepted! 🏡
After touring homes, comparing your options, and negotiating an offer, hearing those words is exciting. But if you’re buying your first home in Texas, you might also be wondering: What happens now?
There are several important steps between getting your offer accepted and getting the keys. You’ll have deadlines to meet, documents to review, inspections to schedule, and financing details to finalize.
Whether you’re buying in Mansfield, Arlington, Fort Worth, Midlothian, or another DFW community, here’s what you can generally expect after going under contract on a resale home in Texas.
Quick Answer: After your offer is accepted and the contract becomes effective, you’ll typically deliver earnest money and any agreed option fee, complete inspections during the negotiated option period, work with your lender on the appraisal and loan approval, review title documents, complete a final walkthrough, and close at the title company. Your exact deadlines and rights depend on your signed contract.
First, What Does “Under Contract” Mean?
When the buyer and seller have agreed to the terms and executed the contract, the home is officially under contract.
That doesn’t mean the transaction is finished. It means both parties have entered into a contract with responsibilities and deadlines they must follow.
In Texas, the contract’s effective date is especially important because it determines when certain deadlines begin.
One of the first things I do with my buyers is make sure they understand the dates that matter most, so nothing gets overlooked.
Step 1: Deliver Your Earnest Money and Option Fee
One of your first responsibilities after going under contract is delivering the earnest money and, if applicable, the option fee.
What Is Earnest Money?
Earnest money is a deposit that demonstrates your commitment to purchasing the home. It’s generally held by the escrow agent and credited toward your purchase at closing.
The amount is negotiable and depends on the agreement between the buyer and seller.
Earnest money is not automatically refundable in every situation. Whether you can recover it if the transaction doesn’t close depends on your contract and the circumstances.
What Is the Option Fee?
In a typical Texas resale transaction, buyers may negotiate a termination option by paying an agreed option fee.
When properly exercised, this gives the buyer an unrestricted right to terminate the contract during the negotiated option period.
The option fee is generally credited toward the purchase price at closing, but it is ordinarily not refunded if the buyer terminates during the option period.
Under the standard TREC resale contract, earnest money and the option fee are generally due to the escrow agent within three days after the effective date, subject to the contract’s weekend and legal holiday provisions.
Important: Always follow the deadlines and delivery instructions in your executed contract. Verify payment instructions independently with the title company to help avoid wire fraud.
Step 2: Schedule Your Home Inspection
Once you’re under contract, you’ll typically want to schedule a home inspection as soon as possible.
A home inspection helps you better understand the property’s condition before you move forward with the purchase.
Your inspector may evaluate major components such as:
- Roofing and attic conditions
- Foundation and visible structural concerns
- Heating and cooling systems
- Electrical and plumbing systems
- Windows, doors, appliances, and other accessible components
Depending on the home, you may also consider specialized inspections for the foundation, sewer lines, HVAC equipment, or other concerns.
Keep in mind that no inspection guarantees a home is free of defects. Inspections are limited in scope and generally focus on accessible, visible conditions.
Step 3: Review the Inspection and Decide How to Proceed
Once the inspection report comes back, we’ll review the findings and talk through your options.
It’s normal for a home inspection to identify issues, even in a well-maintained property. The important part is understanding which items are routine maintenance and which could represent larger expenses or safety concerns.
Depending on the findings and your contract rights, you may choose to:
- Move forward with the property as-is
- Request that the seller complete certain repairs
- Negotiate a price adjustment or seller concession
- Terminate during an applicable option period if permitted by the contract
The seller isn’t automatically required to agree to repairs or concessions. Any changes should be negotiated and documented appropriately.
What Is the Option Period in Texas?
The option period is a negotiated number of days during which the buyer may have an unrestricted right to terminate the contract, provided the requirements for that right have been met.
There is no universal option period that applies to every Texas home purchase. The duration and fee are negotiated in the contract.
This is why scheduling inspections quickly matters. You want enough time to review the report, obtain additional evaluations if needed, and make a decision before your deadline.
Texas does not provide an automatic three-day cooling-off period for an accepted real estate contract. Your termination rights come from the contract and applicable law.
Step 4: Your Lender Works on the Appraisal and Final Loan Approval
While you’re completing inspections, your lender will typically be working on the financing side of the transaction.
If you’re financing your purchase, the lender may order an appraisal to help determine whether the property supports the loan amount.
An appraisal and a home inspection are different things. The inspection focuses on property condition, while the appraisal primarily addresses value for lending purposes.
What Happens if the Appraisal Comes in Low?
If the appraised value is lower than the agreed purchase price, the lender may not be willing to finance the transaction based on the original terms.
Possible next steps could include negotiating with the seller, contributing additional funds, reconsidering financing options, or evaluating any applicable contract protections.
Whether you can terminate without losing earnest money depends on the contract and any financing or appraisal addenda.
During this stage, your lender may also request updated bank statements, employment verification, explanations of deposits, or other documents.
Responding promptly helps keep the transaction moving toward closing.
Step 5: The Title Company Reviews the Property
The title company plays an important role in the closing process.
Among other responsibilities, the title company coordinates escrow, researches the property’s title history, and prepares documents needed for the transaction.
You’ll typically receive title-related documents for review, which may identify matters such as recorded easements, restrictions, or other exceptions.
A survey may also be required or reviewed to help identify property boundaries and certain improvements or encroachments.
For homes in newer DFW communities, this is also a good time to make sure you understand any HOA obligations, special district assessments, and property-specific restrictions.
For example, buyers considering new construction should also understand how lot selection and lot premiums can affect their purchase.
Step 6: Avoid Major Financial Changes Before Closing
One of the biggest things I remind buyers about is that being preapproved doesn’t mean the financing process is finished.
Your lender may verify your financial information again before closing.
Until the purchase is complete, it’s generally best to talk with your lender before:
Financial Do’s and Don’ts Before Closing
DO:
- Respond promptly to requests from your lender.
- Keep making all existing debt payments on time.
- Maintain enough funds for your down payment and closing costs.
- Keep documentation for large deposits or transfers.
- Ask your lender before making any major financial changes.
DON’T:
- Open new credit cards or finance furniture.
- Buy or lease a new vehicle without discussing it with your lender.
- Make unusually large purchases.
- Move significant amounts of money between accounts without checking with your lender.
- Change jobs or compensation arrangements without notifying your lender.
- Make large, undocumented deposits.
Not every financial change causes a problem, but some can affect underwriting or create additional documentation requirements.
When in doubt, ask your lender first!
Step 7: Review Your Closing Disclosure
As closing gets closer, you’ll receive information about your final loan terms and closing costs.
For most mortgage transactions covered by federal Closing Disclosure requirements, your lender must ensure you receive your Closing Disclosure at least three business days before consummation.
This document outlines important information such as:
- Loan amount and interest rate
- Estimated monthly mortgage payment
- Closing costs and prepaid expenses
- Cash needed to close
- Other loan terms and disclosures
Compare it to your Loan Estimate and ask questions about anything that looks unexpected.
You can review the Consumer Financial Protection Bureau’s Closing Disclosure guide for help understanding the form.
Step 8: Complete Your Final Walkthrough
Shortly before closing, buyers commonly complete a final walkthrough of the property.
This isn’t a replacement for the original inspection. It’s an opportunity to check the home’s condition before ownership changes hands.
During the walkthrough, you may want to verify that:
- The property is in the condition required by the contract
- Any agreed repairs have been completed
- Items included in the sale remain at the property
- No obvious new damage has occurred
- The seller has met any applicable move-out obligations
If something isn’t right, let your agent know before closing so the issue can be addressed.
Step 9: Closing Day!
This is the day you’ve been waiting for! 🎉
At closing, you’ll review and sign the required documents, complete any remaining payment obligations, and finalize the transaction.
The title company will coordinate the closing process with the lender and other parties.
In Texas, signing your documents doesn’t always mean you immediately receive the keys. Funding and the contract’s possession terms matter.
Once the transaction is funded and the applicable possession requirements are satisfied, it’s time to celebrate becoming a homeowner!
Typical Timeline After Your Offer Is Accepted
Every transaction is different, but this gives you a general idea of how the process may unfold.
| Stage | What Typically Happens |
|---|---|
| Contract effective date | Contract deadlines begin |
| First few days | Earnest money and any option fee delivered according to the contract |
| Negotiated option period | Inspections, evaluations, and any repair negotiations |
| Following weeks | Appraisal, underwriting, title review, and loan processing |
| Before closing | Closing Disclosure, final loan preparations, and walkthrough |
| Closing day | Sign documents, complete funding, and arrange possession |
This is an illustrative sequence, not a guaranteed schedule. Some steps happen simultaneously, and the actual timeline depends on financing, contract terms, title matters, and other factors.
What Could Delay Closing?
Even when everyone is working toward the same closing date, unexpected issues can arise.
Some common examples include:
- Outstanding lender documentation
- Appraisal delays or valuation concerns
- Title or survey issues
- Unresolved repair agreements
- Insurance requirements
- Funding or document coordination delays
Not every delay means the transaction will fall apart. The key is identifying issues early and communicating with the appropriate parties.
Key Takeaways
- Your accepted offer is the beginning of the contract-to-closing process, not the end.
- Earnest money and option fee deadlines are especially important.
- Schedule inspections early enough to evaluate findings before your option deadline.
- Stay responsive to lender requests and avoid unapproved financial changes.
- Review title documents and your Closing Disclosure carefully.
- Plan for a final walkthrough and understand when you’ll actually receive possession.
Frequently Asked Questions
How long does it take to close on a house in Texas?
Many financed resale transactions are scheduled for approximately 30 to 45 days, but that is only a general planning estimate. Cash purchases may be faster, while financing, title, appraisal, or other issues can require more time. The actual closing date is negotiated in your contract.
Can I back out after my offer is accepted?
Possibly, but it depends on your contract and any applicable termination rights. Texas does not provide an automatic three-day cooling-off period for residential purchase contracts. Terminating improperly may put your earnest money or other contractual rights at risk.
Do I get my earnest money back at closing?
Earnest money is generally applied as a credit toward your purchase at closing. The final settlement statement will show how the funds are accounted for.
Can I negotiate repairs after the inspection?
You can request repairs, concessions, or other changes, but the seller is not automatically obligated to agree. Any agreement should be properly documented, and your option deadline still matters.
When do I get the keys?
Typically after closing and funding, subject to the possession provisions of your contract. Some transactions have seller leasebacks or other arrangements that affect when the buyer can move in.
Final Thoughts
Getting your offer accepted is a huge milestone, but there’s still a lot happening behind the scenes before closing day.
The good news? You don’t have to figure it all out on your own.
When I’m working with buyers, my goal is to make sure they understand what’s happening, what comes next, and which deadlines matter so they can feel confident throughout the process.
Whether you’re buying your first home or your fifth, having a plan and a knowledgeable team can make a big difference.
Let’s Make Your Next Move a Confident One
From touring homes and negotiating an offer to navigating inspections and closing, I’d love to help you through the process.
Helpful Resources
This article is for general informational purposes only and does not constitute legal, lending, tax, or financial advice. Contract terms, deadlines, loan requirements, and closing procedures vary. Buyers should review their executed contract and consult their agent, lender, title company, or qualified attorney about property-specific questions. Equal Housing Opportunity.