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Next Steps When You Have a Buyer
You've found a buyer and agreed on a price. Here's exactly what happens next, step by step.
Getting a buyer to say yes is the exciting part. What comes after — the contract, the inspection, the title search, the appraisal — can feel overwhelming if you've never been through it. This guide walks you through every step from accepted offer to closing day, so you know what to expect and what to do.
Confirm the Offer in Writing
A verbal agreement means nothing in real estate. Once you've reached an agreement on price and terms, get it in writing immediately. A simple letter of intent can work as a placeholder while the formal purchase agreement is being drafted, but don't take the property off the market until you have a signed contract.
Hire a Real Estate Attorney
This is the most important step. Your attorney will draft or review the purchase and sale agreement, ensure the terms protect your interests, coordinate the title search, handle the escrow, and guide you through closing. On Friedum™, you can find a licensed real estate attorney in minutes — at a flat fee, not a percentage of the sale.
Open Escrow
Once the purchase agreement is signed, the buyer's earnest money deposit goes into an escrow account held by a neutral third party — typically the title company or closing attorney. This deposit signals the buyer's commitment and is credited toward the purchase price at closing.
Order a Title Search
Your attorney or title company will run a title search to confirm you have clear ownership of the property and that there are no liens, unpaid taxes, or legal claims that could complicate the sale. This is standard in every transaction and typically takes 3–7 business days.
Prepare for the Inspection
The buyer will almost certainly hire a home inspector. You don't need to do anything special — just make sure utilities are on and all areas of the home are accessible. After the inspection, the buyer may request repairs or a price reduction. You can agree, negotiate, or decline. This is a normal part of the process.
Respond to Repair Requests
Review the buyer's repair requests carefully with your attorney. You're not obligated to fix everything — you can offer a credit at closing instead of making repairs, which is often simpler. If the requests are unreasonable, you can counter or walk away, though most deals are saved with a bit of negotiation here.
Work Through the Buyer's Financing
If your buyer is financing the purchase, their lender will order an appraisal to confirm the property's value supports the loan amount. If the appraisal comes in low, you'll need to negotiate — either lower the price, have the buyer make up the difference in cash, or agree to split it. This is one of the most common deal complications.
Prepare Your Disclosures
Most states require sellers to disclose known material defects — things like water damage, roof issues, pest infestations, or neighborhood nuisances. Your attorney will guide you on what your state requires. Be thorough and honest — failing to disclose can expose you to liability after closing.
Final Walkthrough
Buyers typically conduct a final walkthrough 24–48 hours before closing to confirm the property is in the agreed-upon condition and that any requested repairs were completed. Make sure the home is clean, all your belongings are out, and nothing has changed since the contract was signed.
Close
At closing, you'll sign the deed and transfer documents, the buyer's funds will be released from escrow, and ownership officially transfers. Your attorney will coordinate with the title company to ensure everything is filed correctly. You'll receive your proceeds — minus any outstanding mortgage balance, attorney fees, and closing costs — typically by wire transfer the same day.