What Happens After I Accept an Offer on My House?
In Massachusetts, a signed offer starts a timeline: deposit, inspection, the purchase and sale agreement, the buyer's mortgage commitment, then closing. What happens at each step and what you do.
In Massachusetts, once you sign the buyer's offer it becomes a binding agreement, and a timeline starts: the buyer's deposit, the home inspection, the purchase and sale agreement with a second deposit, the buyer's mortgage commitment, and then closing. Each step has a date in the offer. My job is to keep every one of them on track and keep you updated, so it doesn't feel like nothing is happening.
What are the steps?
- Signed offer and first deposit. The buyer's initial deposit goes into escrow. Each side's attorney gets the paperwork.
- Home inspection, usually within about a week to ten days. You give access and let the buyer and inspector do their work.
- Inspection response. The buyer may proceed, ask for repairs or a credit, or walk away within their window. See what happens after inspection.
- Purchase and sale agreement, typically one to two weeks after the offer, drafted by the attorneys, with the buyer's second deposit.
- Mortgage commitment date. The buyer's lender commits to the loan. The earlier this date is before closing, the safer you are.
- Closing, often 30 to 60 days after the offer. Before then, see the seller's pre-closing checklist.
What do I need to do?
Choose your attorney right away, keep the home accessible for the inspection and appraisal, keep up maintenance and insurance, and start planning your move around the closing date.
What does this look like in practice?
On one sale, the seller accepted by phone in the evening and signed electronically within minutes. That night I sent the signed offer to the buyer's agent, both attorneys and my transaction coordinator, and requested the deposit. The inspection was due within about a week, the purchase and sale within two weeks, and the buyer's mortgage commitment about a month before closing. With dates that clear, the seller could plan the move with confidence.
Questions people actually ask.
Can I keep showing the house after accepting an offer?
Some sellers accept backup offers. Talk to your attorney about how the agreement is written.
Can the buyer back out?
During their contingency windows, generally yes. After those pass, their deposit is usually at risk.
When do I get my money?
At closing, after the deed records, through your attorney.
This article is general information about Massachusetts real estate, not legal, tax, or financial advice. Every property and transaction is different. For advice on your situation, talk with me and, where appropriate, an attorney, lender, or tax professional.