What to Do After an Offer Is Accepted

# What to Do After an Offer Is Accepted

You've accepted an offer. That creates a legally binding contract between you and the buyer, but it does not automatically mean the deal is closed. This guide explains what happens next, what can derail the sale, and what sellers should do to get to closing smoothly.

What an accepted offer actually means

An accepted offer is a contract formed when both parties sign the buyer's purchase document. If the offer includes conditions, it remains conditional until those conditions are satisfied or waived by the buyer. Once all conditions are removed the offer becomes firm and the buyer can no longer walk away without legal consequence.

Typical timeline and reasons for delay

• Financing delays or mortgage approval problems.
• Home inspection findings requiring repairs or renegotiation.
• The seller's own move being delayed because of their new home's schedule.
• Title or legal issues such as outstanding liens.

Any change to the closing date must be agreed to in writing by both parties.

Conditions that commonly appear in offers

Conditions must be cleared by their expiry dates. If a condition isn't met, the buyer can renegotiate, agree to extend the timeline, or walk away. Common conditions include:

• Inspection: Buyer hires an inspector and can ask for repairs, price adjustments, or use problems as grounds to exit the deal.

Less common conditions seen in some offers:

• Sale of the buyer's current home.
• New property survey or boundary verification.
• Well and septic tests, oil tank removal, environmental assessment.
• Confirmation of permits or the legality of secondary suites.
• Resolution of divorce or estate settlements affecting title.

While conditions are active many sellers continue to show the home and may accept backup offers until the deal is firm.

Can a buyer back out?

Yes, during the conditional period the buyer can withdraw if conditions aren't satisfied or are not waived. After conditions are removed and the offer is firm, the buyer cannot walk away without breaching the contract.

Preparing for closing as a seller

Tasks to complete before closing day:

• Keep the home show-ready until conditions are removed, unless you and your agent decide otherwise.
• Prepare the property for the final walkthrough: ensure included items work and access is available.
• Coordinate with your lawyer or notary to review and sign closing documents.
• Contact utilities for final meter readings and arrange transfers or disconnections.
• Cancel or transfer services such as lawn care, snow removal, deliveries, and insurance.
• Collect and provide keys, fobs, access codes, manuals, and warranties.
• Arrange mail forwarding.

Closing costs sellers should expect

• Real estate agent commissions.
• Legal or notary fees.
• Adjustments for property taxes and utilities (credit or debit based on prepayments).
• Mortgage discharge fees and any early payment penalties.

conditions, clear communication with your agent and lawyer, and completing the logistical steps listed above. Doing these things promptly reduces the chance of surprise delays or renegotiations.