Your Offer Was Accepted. Now What? What Happens After You Go Under Contract in Texas.
There is nothing quite like hearing that your offer has been accepted. After the showings, the comparing, the deliberating, and the back and forth of negotiations, you are finally under contract on a home. But the finish line is not as close as it feels in that moment. Between contract and closing there is a significant amount of work that needs to happen, and the buyers who understand what is coming are the ones who get through it smoothly.
Here is a straightforward walkthrough of what happens after your offer is accepted in Texas.
Once both parties have signed the purchase agreement and all parties have received the fully executed contract, the clock officially starts. This moment, called execution, triggers all the deadlines written into your contract including the option period, the earnest money delivery deadline, the financing contingency period, and ultimately the closing date. Make sure you know the exact execution date because everything else flows from it.
Within three days of execution you need to deliver two separate payments. The option fee goes directly to the seller and purchases your right to terminate during the option period. The earnest money goes to the title company and sits in escrow until closing. Both of these need to be handled immediately. Do not wait. Missing either deadline can affect your rights under the contract and create complications that are entirely avoidable.
The same day the contract is executed, get your home inspection scheduled. Good inspectors in Lubbock stay busy and you want your inspection done in the first half of your option period, not the last day. A thorough inspection typically takes two to four hours and gives you a detailed report on the condition of the home. You should be present for it. Walk through with the inspector, ask questions, and understand what you are looking at firsthand rather than just reading the report later.
If the inspection surfaces issues, you have options. You can request repairs or a credit from the seller, you can accept the home as-is, or you can terminate during the option period and get your earnest money back. All of those decisions need to happen before the option period expires.
At the same time your inspection is happening, your lender is moving forward on your loan. They will order an appraisal of the property, verify your financial documentation, and work toward issuing a loan commitment. Stay extremely responsive to your lender during this period. If they ask for a document, get it to them the same day. Delays in financing are one of the most common reasons closings get pushed back, and most of those delays come down to slow responses from the buyer.
Do not make any major financial moves during this period either. Do not open new credit cards, do not make large purchases, do not change jobs if you can avoid it. Any significant change to your financial picture between contract and closing can affect your loan approval and derail the entire transaction.
Your lender will order an independent appraisal of the property, typically within the first week or two after the contract is executed. An appraiser will visit the home and determine its market value based on recent comparable sales and the condition of the property. If the appraisal comes in at or above your purchase price, great, you move forward. If it comes in below your purchase price, you and the seller will need to figure out how to handle the gap. Options include renegotiating the price, the buyer making up the difference in cash, or in some cases terminating the contract depending on how the appraisal contingency is written.
While all of this is happening, the title company is conducting a title search on the property. They are looking through public records to confirm that the seller actually has the legal right to sell the home and that there are no liens, encumbrances, or ownership disputes that could affect your ability to take clear title. This process usually takes a week or two and if any issues come up, they need to be resolved before closing. Title insurance protects you and your lender from any title issues that surface after closing and is a standard part of every Texas real estate transaction.
Once your lender has finished underwriting your loan and is satisfied with all the documentation, they issue what is called a clear to close. This is the moment everyone is waiting for. It means the lender is ready to fund the loan and closing can be scheduled. You will receive a Closing Disclosure at least three business days before closing that outlines every number involved in the transaction including your final loan terms, closing costs, and how much you need to bring to the table.
Review that document carefully. Make sure the numbers match what you were expecting and ask questions about anything that does not look right before you show up at the closing table.
Shortly before closing, typically the day before or the morning of, you will do a final walkthrough of the property. This is your last chance to confirm that the home is in the condition you agreed to, that any negotiated repairs have been completed, and that nothing has changed since your inspection. If something is wrong, now is the time to say so, not after you have signed everything.
Closing typically takes place at the title company and involves signing a significant amount of paperwork. Bring your ID and a cashier's check or wire transfer for the amount shown on your Closing Disclosure. Once everything is signed and the funds are disbursed, you get the keys. The home is yours.
From accepted offer to closing in Lubbock typically takes 30 to 45 days depending on the loan type and how smoothly each step goes. Stay organized, stay responsive, and trust the process. The work that happens between contract and closing is what makes the closing day moment possible.
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TESS HERNANDEZ
6901 Quaker Ave Ste 100 Lubbock, TX 79413