What Happens During the First Days After Going Under Contract in Texas?

The seller accepted your offer.

Everybody celebrates.

Then your real estate agent starts sending you deadlines, phone numbers, inspection information and instructions.

Welcome to being under contract.

The first few days after a Texas real estate contract becomes effective can be some of the busiest days of the entire transaction.

And they're important.

This is when we may be dealing with deposits, the option period, inspections, financing, insurance and other time-sensitive items.

So here's what I want my buyers to know immediately after going under contract.

First: Your Contract Controls the Timeline

Before we talk about "Day 1," let's make something clear.

There isn't one universal first-10-days schedule that applies to every Texas home purchase.

Your contract contains the actual terms and deadlines that apply to your transaction.

The option period, deposit amounts, financing deadlines and closing date can vary.

That means your first question after going under contract should be:

"What are my deadlines?"

Your agent should help you identify them.

Step 1: Know the Effective Date

The effective date is important because contractual time periods can be calculated from it.

Once the contract is executed and the effective date is established, I want my buyer to have a clear transaction timeline.

Don't rely on memory.

Put important dates somewhere you can see them.

Step 2: Handle Earnest Money and Option Fee Requirements

This is one of the first items we address.

If your contract requires earnest money and an option fee, make sure you understand:

• Amount

• Recipient

• Delivery method

• Deadline

Texas contracts contain specific provisions governing these payments.

Don't wait until the deadline to figure out how to deliver them.

Earnest Money vs. Option Fee

Buyers sometimes think these are the same thing.

They're not.

Earnest Money

Earnest money is deposited in connection with your contractual commitment to purchase the property.

Option Fee

When a termination option is included, the option fee is paid for the contractual right provided by that provision.

Understanding the difference matters because they serve different purposes.

Step 3: Schedule the Inspection Immediately

If you have an option period, don't waste the first several days deciding which inspector to call.

Get the inspection scheduled.

Why?

Because if the inspector identifies something requiring a specialist, you want enough time to investigate it before an applicable deadline expires.

For example, the inspector may recommend further evaluation of:

• Foundation

• Roof

• HVAC

• Plumbing

• Electrical

• Pool

• Septic

• Well

Time gives you options.

Step 4: Attend the Inspection If You Can

I like buyers to attend at least the final portion of the inspection when practical and permitted by the inspector.

Reading:

"HVAC system exhibits deficiencies"

on a report isn't the same as having an inspector show you what was observed and explain the significance.

Use the inspection as an education about the house.

Step 5: Don't Freak Out When You See the Report

First-time buyers open a 60-page inspection report and think:

"This house is falling apart."

Maybe.

But probably not just because the report is long.

Inspectors document many observations, including maintenance items and relatively minor issues.

Focus first on:

• Safety concerns

• Structural issues

• Roof

• HVAC

• Plumbing

• Electrical

• Water intrusion

• Drainage

• Potentially expensive repairs

Then determine whether additional professional evaluation is appropriate.

Step 6: Decide What Matters

After reviewing the inspection, we need to decide what actually matters to you.

Not every loose doorknob needs to become a negotiation.

Depending on the property and contract, we may focus on larger issues such as:

• Significant leaks

• Electrical concerns

• HVAC problems

• Roof issues

• Plumbing problems

• Foundation concerns

• Safety items

The goal isn't necessarily to make an older house brand new.

The goal is to understand what you're buying and make informed decisions within your contractual rights.

Step 7: Get Specialist Evaluations Quickly

If the inspector recommends a foundation specialist, plumber, roofer, HVAC technician or another professional, don't procrastinate.

Your contract deadlines continue moving while you're gathering information.

If you need additional evaluation, schedule it as soon as possible.

Step 8: Decide Whether to Negotiate

Depending on your contract and circumstances, inspection findings may lead to negotiations.

You may consider requesting:

• Specific repairs

• Seller contribution toward eligible costs

• Another negotiated solution

Or you may decide the property is acceptable as-is.

The seller isn't automatically obligated to agree to your requests.

Negotiation is negotiation.

Step 9: Keep the Lender Moving

While you're focused on inspections, don't forget your mortgage.

Send the executed contract to the lender promptly if they don't already have it.

Continue providing requested documents.

Your lender may be working on:

• Underwriting

• Property information

• Appraisal process

• Asset verification

• Employment verification

• Loan conditions

Don't disappear because the inspection is happening.

Two processes are moving at the same time.

Step 10: Start Shopping Homeowners Insurance

This is something I want done early.

Don't wait until a few days before closing to discover that the insurance premium on the house is much higher than expected.

Get quotes.

The actual insurance cost can affect your estimated monthly housing payment and mortgage calculations.

For Houston-area properties, I especially want buyers paying attention to:

• Roof age

• Coverage

• Deductibles

• Wind/hail provisions

• Flood coverage considerations

Price matters, but coverage matters too.

Step 11: Review the Property's Tax Situation

By this point, we should also understand the property's tax picture.

Houston-area buyers need to pay particular attention to:

• Applicable taxing jurisdictions

• MUD taxes when applicable

• Current taxable value

• New-construction tax estimates

• Potential homestead considerations after purchase

Don't assume the seller's current tax bill will be identical to yours.

Step 12: Review HOA Information When Applicable

If the property is in an HOA, review applicable information and documents provided during the transaction.

Understand things such as:

• Regular assessments

• Restrictions

• Rules

• Fees

• Community requirements

If something matters to you—parking, fencing, exterior modifications, rentals, sheds or another use—don't simply assume it's allowed.

Check.

Step 13: Don't Make Financial Changes

You finally got the house under contract.

This is not your signal to go finance everything you're going to put inside it.

Don't:

• Buy the car

• Finance the couch

• Open the furniture card

• Co-sign a loan

• Quit your job

• Move large amounts of money

without talking to your lender.

The mortgage is still being processed.

Step 14: Keep Your Money Traceable

Mortgage lenders may need documentation showing where funds came from.

If family members are helping with permitted gift funds or you're moving money between accounts, ask your lender how they want it handled and documented.

Don't create a financial scavenger hunt for underwriting.

Step 15: Ask Questions Now

If you're confused about something in the:

• Contract

• Inspection

• Loan

• Insurance quote

• HOA information

• Tax information

ask.

The early part of the transaction is exactly when we want to identify questions.

Why the First Few Days Matter So Much

Later in the transaction, we're typically dealing more heavily with financing, appraisal, title, final loan conditions and closing preparation.

The beginning is different.

This is when many of your most important property due-diligence decisions may occur.

That's why I don't want buyers losing valuable time.

Your First-Days Checklist

Once your contract is effective, focus on:

Know your deadlines.

Deliver required deposits on time.

Schedule inspections.

Review findings.

Obtain additional evaluations when appropriate.

Make option-period decisions before applicable deadlines.

Keep the lender updated.

Shop homeowners insurance.

Review taxes and HOA information.

Don't make major financial changes.

That's a much better plan than spending the first week picking paint colors.

What Happens After This Stage?

Once the early due-diligence period is behind us, the transaction generally moves deeper into:

• Mortgage underwriting

• Appraisal

• Title work

• Insurance

• Final loan conditions

• Closing preparation

• Final walkthrough

• Closing

There is still plenty happening, but you've cleared an important part of the process.

Final Thoughts

The first days after going under contract in Texas can move quickly.

You don't need to know every contract rule before buying a house.

But you do need to understand your deadlines.

That's where having a clear transaction timeline matters.

Once your offer is accepted, my job isn't simply to say:

"Congratulations!"

It's also to make sure you know:

What happens next?

What needs to happen today?

What's the next deadline?

What decision do we need to make?

That's how we keep the transaction moving.

About Marysol Calvillo

I'm a real estate broker helping buyers throughout Katy, Cypress, Hockley, 77084, 77095 and the greater Houston area navigate the home-buying process.

I believe buyers should understand what's happening throughout the transaction, especially during the early days when inspections and contractual deadlines can move quickly.

Call to Action

Thinking about buying your first Houston-area home? Let's start before you're under contract. I'll walk you through the process from financing and making an offer to inspections, appraisal and closing so you know what to expect before the deadlines begin.