Purchase Tips · May 10, 2025
The Home Purchase Timeline: Week-by-Week From Offer to Keys
Once your offer is accepted, what happens next? Here is a week-by-week breakdown of the typical 30-45 day closing process so nothing surprises you.
Once your offer is accepted, a structured sequence of events follows. Here is what to expect.
Days 1-3: Open escrow, wire earnest money (1-3% of purchase price, applies toward your down payment at closing).
Days 1-7: Schedule home inspection immediately (good inspectors book fast), contact HMS to complete application and lock your rate.
Week 2: Lender orders appraisal. Appraiser visits property, delivers report within 5-10 business days. If appraisal comes in below purchase price, you negotiate or cover the gap.
Weeks 2-3: Loan processing — employment verification, title search, preparation for underwriting. Stay responsive: same-day response to document requests keeps things on track.
Weeks 3-4: Underwriting. Most loans receive conditional approval. Respond to all conditions immediately.
Day Before Closing: Final walkthrough to confirm property condition and that agreed repairs were completed.
Closing Day: Bring your ID and closing funds (certified check or wire). Sign 50-100+ pages of documents. Receive your keys.
HMS manages the process proactively from pre-approval through closing. Call 309-222-8286.