What Happens After My Offer Is Accepted on a Home in Erie?

Once a seller accepts your offer on a home in Erie, you're "under contract." The house isn't yours yet. What comes next is a short stretch of checking: an inspection, an appraisal if you're using a loan, a review of the title and any HOA papers, your lender's final approval, a last walk through the home, and then closing day, when you sign and get the keys. Each step has a deadline written into your contract, and my job is to keep track of every one of them so you don't have to.

If this is your first home, that list can feel like a lot. It's less scary when you know what each step is for and what you'll be asked to do. Here's how it works, in the order you'll live it.

I'm Carol, and Homes by Carol is my real estate practice. Carol Vanlandingham is a REALTOR® with eXp Realty in Erie, Colorado, helping people through life transitions, downsizing, first homes and relocation across Erie, Boulder County and Northern Colorado.

It means you and the seller have both signed the same agreement, with the same price and the same terms. The seller has agreed to sell to you, as long as the steps in the contract go the way they should.

It also means the clock has started. Your contract lists dates for things like your inspection and your loan approval. Some of those dates protect you. If the inspection turns up a problem, or your loan falls through, the contract tells you what you can do and by when.

That's why the days after an accepted offer matter so much. Missing a date can cost you options. I write every date down the day we go under contract, and I tell you what's coming before it arrives.

Here's the order most of my buyers go through. Your contract may change the timing, and I'll walk you through yours line by line.

Step 1: Your earnest money goes in

Earnest money is a deposit that shows the seller you're serious. It's held until closing and then counts toward what you pay. Your contract says how much it is, who holds it and when it's due. Ask me anything about it before you send it, and always confirm wiring directions by phone with a number you already know.

Step 2: You schedule the home inspection

A professional inspector looks at the home from the roof to the foundation and gives you a written report. This is your best look at what you're buying. I always recommend one.

I fixed and flipped houses before I was licensed, so I notice things like an older roof or work that wasn't done well. I'm not an inspector, though. When the report comes back, I sit down with you and go through it so you understand what's serious, what's normal wear and what's a simple fix. Then we talk about your options. You might ask the seller to repair something, ask for a credit, or move ahead as is. You decide.

Step 3: You read the HOA and neighborhood papers

Many of Erie's newer neighborhoods have an HOA, and some sit inside a metro district that adds its own charge on top of property taxes. You'll get documents that explain the dues, the rules and what's covered. Read them. If something isn't clear, ask me, and if it's a legal question, I'll point you to the right professional.

Erie also sits in two counties. West of County Line Road is Boulder County, and east of it is Weld County. The county affects things like property taxes, so it's worth knowing which side your new home is on. You can read more on my Erie page.

Step 4: The appraisal happens

If you're using a loan, your lender orders an appraisal. An appraiser looks at the home and recent nearby sales and gives an opinion of value. The lender wants to know the home is worth what it's lending against.

If the appraisal comes in at or above your price, you move on. If it comes in lower, we have choices to talk through, and your contract spells out what they are. This is one of the moments where a calm conversation matters more than a fast one.

Step 5: The title work gets done

A title company checks the property's records to make sure the seller can sell it to you free and clear. You'll get a title commitment to review. Most of the time this step is quiet. When something comes up, it's usually handled before closing.

Step 6: Your loan gets final approval

Your pre-approval got you here. Now your lender finishes checking everything and gives final approval. They may ask for an updated pay stub or bank statement. Send what they ask for quickly.

This is also the time to keep your finances steady. Talk with your lender before you open a new credit card, buy a car or change jobs. A big change can affect your loan right before closing.

You'll also set up homeowner's insurance during this stretch, because your lender will need proof of it.

Step 7: The final walkthrough

Shortly before closing, you walk through the home one more time. You're checking that it's in the condition you agreed to, that any agreed repairs were made, and that nothing new has gone wrong.

This is one of my favorite parts of the whole process. It's often the moment a house starts to feel like your home.

Step 8: Closing day

You sign the final papers, your loan funds and you get the keys. I'll tell you ahead of time what to bring and what to expect, so there are no surprises at the table.

Shea and Justin had been renting for four years when they decided to buy their first home. Like most first-time buyers, they didn't know what they didn't know. So we started from the ground up. I walked them through each step, connected them with one of the local lenders I trust to get pre-approved, and we toured several Erie neighborhoods together.

They found a home in Sweetgrass with a big backyard and a neighborhood pool, at a price that fit their budget. Then came the steps on this page, one at a time.

Their final walkthrough is one I still think about. We walked through the house while they talked about paint colors, new flooring and which light fixtures they wanted to change. That's when it stopped being a transaction and started being their home. You can read more of their story in my post on Erie neighborhoods for first-time buyers.

Most of these are easy to avoid once you know about them.

• Missing a deadline. Every step has a date. If you're unsure what's due, ask me. I'd much rather answer the same question three times.
• Skipping or rushing the inspection. The inspection is how you find out what you're buying. Give yourself time to read the report and ask questions.
• Making big money moves. A new car loan or a job change before closing can affect your loan. Call your lender first.
• Not reading the HOA papers. Dues and rules are part of what you're buying. Look at them before the deadline to object, not after.
• Trusting an email about wiring money. Scammers send fake wiring instructions. Call a number you already know to confirm before you send anything.
• Treating the walkthrough as a formality. Look closely. Run the faucets, open the windows and check the repairs you asked for.

Know what's next, and know who to call. That's most of it.

Before every step, I tell you what's coming, what you need to do and when. I keep track of the dates, and I answer questions whenever they come up, including the ones you think are too basic. There's no such thing here.

If you're earlier in the process and haven't made an offer yet, start with my page for first-time buyers, or see the full buying process, which starts with getting ready before we ever tour a home.

Can the deal still fall apart after my offer is accepted?

Yes, it can. Your contract has steps like the inspection, the appraisal and your loan approval, and each one gives you or the seller certain choices by certain dates. Most of the time things work out. When something comes up, I explain your options in plain words, and you decide.

Do I have to get a home inspection?

It's your choice, but I always recommend one. It's your best chance to understand the home before you own it. I'll help you read the report and decide what, if anything, to ask the seller for.

What if the appraisal comes in lower than my offer?

You have options, and your contract spells them out. Some buyers ask the seller to lower the price, some cover part of the gap and some walk away. We talk through what each choice means for you before any decision is made.

What should I bring to closing?

Your ID, and anything your lender or the title company asks for. I'll give you a short list a few days before so you aren't guessing.

Will you still help me after closing?

Yes. If you have a question about your home a month or a year later, call me. Real estate may be how we meet, but my hope is that what remains is trust.

Carol Vanlandingham is a REALTOR® with eXp Realty in Erie, Colorado, helping people through life transitions, downsizing, first homes and relocation across Erie, Boulder County and Northern Colorado. If you're thinking about buying your first home, even if it's a year away, send me a note or call me at (303) 522-3130.