What Happens After Your Offer Is Accepted on a House in Texas?

You found the house.

We wrote the offer.

The seller accepted it.

Congratulations — you're under contract!

And then comes the question I hear from first-time buyers:

"Okay... now what?"

Getting your offer accepted is exciting, but it also starts one of the busiest parts of the home-buying process.

There are contract deadlines to track, money to deliver, inspections to schedule, financing to continue, an appraisal to complete and documents to review.

So let's walk through what generally happens after your offer is accepted on a Texas home.

First: Accepted Isn't Always the Same as Executed

This is an important distinction.

In a Texas real estate transaction, we need a properly executed contract.

The effective date matters because many contractual deadlines are calculated from it.

Your real estate agent should help you identify the effective date and the deadlines that apply to your particular contract.

From this point forward, dates matter.

1. Earnest Money and the Option Fee

One of the first things we'll address is delivery of any earnest money and option fee required under your contract.

Earnest Money

Earnest money is money deposited in connection with the contract that demonstrates the buyer's commitment to the transaction.

Option Fee

If the contract provides for a termination option, the option fee is consideration paid for that contractual right.

These are not the same thing.

Your contract tells us the amounts, where they need to be delivered and the applicable deadlines.

Don't wait until the last minute.

2. The Option Period Begins

If you negotiated an option period, this is your opportunity to perform due diligence and decide whether you want to continue with the purchase.

This is typically when buyers schedule the home inspection.

The length of the option period is negotiated in the contract.

It isn't automatically a certain number of days for every transaction.

3. Schedule the Home Inspection

I recommend getting the inspection scheduled quickly.

A general home inspection may evaluate many of the home's visible and accessible systems and components.

Depending on the property, additional inspections or evaluations may be appropriate for things such as:

• Foundation

• Roof

• HVAC

• Plumbing

• Electrical

• Pool

• Septic

• Well

• Wood-destroying insects

Not every home needs every specialized inspection.

The property's characteristics and the general inspector's findings can help determine whether additional evaluation makes sense.

4. Review the Inspection Report

Your inspection report may be long.

Don't panic.

An inspection report isn't a pass/fail report.

Inspectors document observations ranging from small maintenance items to potentially significant concerns.

I like to separate findings into categories:

Safety

Major systems

Potentially expensive repairs

Items requiring additional evaluation

Normal maintenance

That makes the report much easier to understand.

5. Decide What to Do With the Inspection Findings

Depending on your contract, timing and circumstances, you may have decisions to make during the option period.

You might:

• Continue as agreed

• Negotiate certain repairs

• Request an allowable seller credit

• Negotiate other terms

• Obtain additional evaluations

• Exercise applicable contractual termination rights

The seller doesn't automatically have to agree to every requested repair or concession.

This is a negotiation.

6. Your Mortgage Process Keeps Moving

While you're inspecting the house, your lender is working too.

Once you're under contract, provide the executed contract and requested property information to your lender promptly.

The lender may request updated documentation involving:

• Income

• Assets

• Bank statements

• Employment

• Insurance

• Other underwriting information

Answer requests quickly.

A delayed document can become a delayed closing.

7. Protect Your Mortgage Approval

Once you're under contract, this is not the time to reinvent your financial life.

Avoid major financial changes without speaking with your lender.

That includes:

• Financing a vehicle

• Opening credit cards

• Financing furniture

• Changing jobs

• Moving large amounts of money

• Co-signing for someone

• Running up credit-card balances

You may have been pre-approved, but underwriting isn't finished.

8. Shop for Homeowners Insurance

Don't wait until the final days before closing to start shopping for homeowners insurance.

Insurance costs can affect your estimated monthly payment and may be considered in the financing process.

In Houston, property-specific factors can make premiums vary significantly.

Get quotes early enough to understand the cost.

9. The Lender Orders the Appraisal

For most financed purchases, the lender will require an appraisal.

The appraisal helps the lender evaluate the property's value for the mortgage.

An appraisal and a home inspection are different.

The inspector is looking at the condition of the property.

The appraisal is performed for valuation and lending purposes.

You generally want both when applicable to your transaction.

10. What If the Appraisal Comes in Low?

Suppose you're under contract for $400,000.

The appraisal comes back at $385,000.

Now we have a $15,000 appraisal gap.

What happens next depends on your contract, financing and negotiations.

Possible outcomes may include:

• Seller reduces the price

• Buyer contributes additional funds

• Buyer and seller negotiate a compromise

• An appraisal reconsideration is pursued through the lender when appropriate

• Contractual rights are evaluated

Don't assume a low appraisal automatically means you can terminate or that the seller automatically has to lower the price.

The contract matters.

11. Title Work Is Happening Too

The title company and other parties involved in closing are also working behind the scenes.

Title-related work helps identify matters that may affect ownership or transfer of the property.

You'll receive applicable documents during the transaction.

Review them and ask questions if something doesn't make sense.

12. Review HOA Information When Applicable

If the property is located within an HOA, there may be documents and information related to the association.

Depending on the transaction, these may include information involving:

• Assessments

• Restrictions

• Rules

• Fees

• Other association matters

Don't assume every HOA operates the same way.

13. Keep an Eye on Your Updated Numbers

As closing approaches, your lender's estimates become more specific.

Pay attention to:

• Loan amount

• Interest rate

• Estimated payment

• Property taxes

• Homeowners insurance

• Mortgage insurance when applicable

• Cash to close

If something changes, ask why.

14. Prepare for the Final Walkthrough

Shortly before closing, buyers typically conduct a final walkthrough.

This isn't another full inspection.

The purpose generally includes confirming that the property's condition is consistent with expectations under the contract and checking applicable agreed items.

We may look at things such as:

• Property condition

• Agreed repairs

• Included appliances or fixtures

• Whether the seller has moved out as required

• Significant new damage

If something isn't right, tell your agent before signing closing documents.

15. Review Your Closing Disclosure

For mortgage transactions subject to applicable federal disclosure requirements, you'll receive a Closing Disclosure before consummation within the required timeframe.

Review it carefully.

Look at:

• Loan terms

• Interest rate

• Monthly principal and interest

• Estimated taxes and insurance

• Closing costs

• Credits

• Cash to close

Ask questions before closing day if something doesn't look right.

16. Verify Wiring Instructions

Wire fraud is a real risk in real estate transactions.

Never assume an emailed wiring instruction is legitimate simply because the email looks convincing.

Verify instructions through a trusted, independently confirmed method with the title or settlement company before sending funds.

17. Closing Day

Finally, we get to the fun part.

You'll sign the applicable closing documents.

The transaction then needs to complete the required funding and closing steps.

Once everything is complete and possession is available according to the contract:

You get the keys.

How Long Does All of This Take?

There is no single timeline for every Texas purchase.

The closing date is negotiated in the contract.

Timing can depend on:

• Financing

• Property

• Appraisal

• Inspection

• Title

• Contract terms

• Other transaction-specific circumstances

That's why I give my buyers a timeline based on their actual contract, not a generic internet checklist.

The Most Important Thing After Your Offer Is Accepted

Stay responsive.

During this part of the transaction, you may hear from:

• Your real estate agent

• Lender

• Inspector

• Insurance professional

• Title or settlement company

Open the emails.

Answer the calls.

Ask questions.

And don't make major financial changes without talking to your lender.

Final Thoughts

Getting your offer accepted is a major milestone, but it isn't the finish line.

The next stage involves:

Contract deadlines → earnest money → option period → inspection → financing → insurance → appraisal → title → final walkthrough → closing

You don't need to memorize all of it.

That's part of my job.

My goal is to make sure you understand what's happening, what comes next and which deadlines matter.

About Marysol Calvillo

I'm a real estate broker helping buyers throughout Katy, Cypress, Hockley, 77084, 77095 and the greater Houston area navigate the buying process from the first consultation through closing.

I believe buyers should understand the process instead of simply being told where to sign.

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