You made an offer. It got accepted. You signed the contract and everyone congratulated you. And then you waited for someone to tell you what happens next.
This is the part of the homebuying process that nobody explains well. The stretch between going under contract and sitting at the closing table can feel like a black box. Things are happening but it’s not always clear what, who is doing them, or what you’re supposed to be doing in the meantime.
Here’s what’s actually going on during those weeks.
Due diligence and inspections
The clock starts immediately. In Georgia you have a negotiated due diligence period that begins the moment the contract is binding. This is your window to investigate the property and the first thing you should do is schedule your inspection.
Don’t wait. Good inspectors book out and you want your results back with enough time to ask follow up questions, get repair estimates if needed, and make any requests before the due diligence period closes.
Depending on what the general inspection turns up you may also bring in specialists for things like a sewer scope, HVAC inspection, radon test, or structural evaluation. All of this happens during due diligence and all of it costs money. Budget for it.
The appraisal
Once the due diligence period closes your lender will order an appraisal. An appraiser will visit the property and deliver an opinion of value based on comparable sales in the area. Your lender needs this to confirm the home is worth what they’re agreeing to lend.
If the appraisal comes in at or above the contract price you move forward. If it comes in below the contract price you have some decisions to make. We covered this in detail in a previous post but the short version is that a low appraisal is a problem with solutions, not necessarily a deal killer.
Your lender is working behind the scenes
While inspections and appraisals are happening your lender is processing your loan. They will likely ask you for additional documentation during this period. Tax returns, bank statements, pay stubs, letters of explanation for various things. Respond to every request as quickly as possible.
This is also not the time to make any major financial moves. Do not open new credit cards, make large purchases, change jobs, or move significant amounts of money between accounts without talking to your lender first. Any of these things can affect your loan approval and delay or derail your closing.
Title search and insurance
The closing attorney will conduct a title search to make sure the property can be legally transferred to you free and clear of any liens or claims. This is happening quietly in the background and you may not hear much about it unless an issue comes up.
You will also be required to purchase title insurance which protects you in the event that a title issue surfaces after closing. Your closing disclosure will show this as one of your closing costs.
The clear to close
When your lender has everything they need and your loan is fully approved they will issue a clear to close. This is the green light that tells everyone the financing is in order and closing can be scheduled.
Once you have a clear to close your closing attorney will prepare the closing disclosure, which is a detailed breakdown of every number involved in your transaction. You are entitled to receive this at least three business days before closing. Read it carefully and ask questions about anything you don’t understand.
The final walkthrough
Shortly before closing, usually the day before or the morning of, you will do a final walkthrough of the property. This is your chance to confirm the home is in the condition you agreed to, that any negotiated repairs have been completed, and that nothing has changed since you last saw it.
This is not a second inspection. It’s a verification. But take it seriously. If something is wrong this is the time to raise it, not after you’ve signed.
Closing day
You will sit down with the closing attorney, sign a significant amount of paperwork, and hand over your closing funds. Bring a valid photo ID and a cashier’s check or be prepared to wire your funds in advance. Personal checks are not accepted at closing.
Once everything is signed and the lender has funded the loan the keys are yours.
As the Consumer Financial Protection Bureau outlines, understanding each step of the closing process before you get there makes the whole experience significantly less stressful. Read your closing disclosure. Ask every question. Show up prepared.
If you’re a buyer navigating this process and want a team that will keep you informed every step of the way, we’d love to connect.
The bottom line
A lot is happening between contract and closing even when it doesn’t feel like it. Your job is to stay responsive, avoid financial moves that could affect your loan, and lean on your agent and lender to keep you informed. The more you understand about what’s happening and why the calmer and more confident you’ll feel on closing day.