Published August 26, 2026

Step-By-Step Guide to the Home Buying Process

Written by Jacob Milton

Step-By-Step Guide to the Home Buying Process header image.

Congratulations! Your offer was accepted. After searching for homes, attending showings, comparing properties and finally submitting an offer, getting that acceptance feels like a huge accomplishment.

But what happens next?

For many buyers—especially first-time homebuyers—the time between an accepted offer and closing can feel like a blur of inspections, paperwork, phone calls and deadlines. The good news is that you don’t have to navigate it alone.

Here’s a look at what typically happens after your offer is accepted and what you can expect as you move toward closing day.

1. Celebrate—Then Get Organized

First, take a moment to celebrate! Buying a home is a huge deal.

Once the excitement settles in, review your purchase agreement and make sure you understand the important dates and deadlines. Your Realtor should help you understand what needs to happen, when it needs to happen and who is responsible for each step.

Pay close attention to deadlines related to earnest money, inspections, financing, appraisal and closing.

2. Deposit Your Earnest Money

Earnest money is a good-faith deposit that demonstrates to the seller that you’re serious about purchasing the home.

The amount and timing of the deposit will be outlined in your purchase agreement. Your Realtor can help you understand where the money needs to go and when it needs to be deposited.

The deadline to submit earnest money is usually pretty quick, and it’s important to meet this deadline because the purchase agreement is a legally binding contract.

3. Schedule Your Home Inspection*

For many buyers, the home inspection is one of the most important steps after an offer is accepted.

A professional home inspector will evaluate the property and look for potential problems involving areas such as the structure, roof, electrical system, plumbing, heating and cooling systems, windows and other components of the home.

Keep in mind that an inspection report will rarely be completely clean. Even well-maintained homes can have maintenance items.

*While a home inspection is recommended for most buyers, there are situations where a buyer may choose to waive one, such as when purchasing a newer home, accepting the property as-is, or competing in a highly competitive market. Buyers should carefully consider the risks before making that decision.

4. Address Any Inspection Concerns

If the inspection uncovers significant issues, your Realtor can help you determine how to proceed based on the terms of your purchase agreement.

Depending on the circumstances, this could involve requesting repairs, negotiating a credit or other changes to the agreement, or determining whether another option is appropriate.

This is where having an experienced Realtor can be particularly valuable. A long inspection report doesn’t necessarily mean you have a bad house—or that you should ask the seller to fix everything.

Your Realtor can help you separate routine maintenance items from issues that may warrant further discussion.

5. Complete the Appraisal

If you’re financing your purchase, your lender will typically order an appraisal.

The appraisal provides the lender with an independent opinion of the property’s value. Ideally, the appraised value will support the purchase price.

For example, if you’re purchasing a home for $350,000 and it appraises for $350,000 or more, everything generally lines up.

But what happens if the appraisal comes in below the purchase price?

That’s when your Realtor and lender can help you understand your options. Depending on the circumstances and the terms of your purchase agreement, the parties may need to renegotiate the price or determine how to address the difference.

6. Keep Working With Your Lender

Even though you’ve already been pre-approved for a mortgage, your loan isn’t necessarily finished.

Your lender will continue verifying your financial information and working toward final loan approval.

During this period, it’s important to be cautious about making major financial changes. Avoid opening new credit accounts, taking on significant new debt or making large purchases without first talking to your lender.

Something as simple as financing a new car or opening several new credit accounts could potentially affect your mortgage approval.

7. Take Care of Homeowners Insurance and Title Work

As you move closer to closing, there will be additional paperwork and details to take care of.

Your lender will typically require proof of homeowners insurance before closing.

Meanwhile, the title company or closing company will work through the title process to help ensure the property can be transferred to you.

There may be additional documents and requirements depending on your specific transaction, so don’t hesitate to ask questions of your Realtor if something is unclear.

8. Prepare for the Final Walkthrough

Shortly before closing, you’ll typically have an opportunity to complete a final walkthrough of the property.

This isn’t intended to replace the home inspection. Instead, it’s an opportunity to make sure the property is in the condition you expect and that agreed-upon repairs have been completed.

You’ll also want to make sure that items that were supposed to remain with the property are still there and that there hasn’t been any significant new damage since you last viewed the home.