Accepted Offer:
What Happens Next

Congratulations — you're under contract. Here is the road from today to the closing table, in the order it will happen, and what we handle at every step.

We see the need because we know the need.

Dave Richert 630.906.7266 dave@richertfamily.com richertfamily.com

An accepted offer starts the clock. Four milestones stand between you and closing — and none of them should be a surprise.

The Road to Closing

1 Attorney Review

First 5 business days after contract execution

As soon as the contract is executed, we send all documents to your attorney and copy you on that email.
From this point on, all formal communication between buyer and seller flows through the attorneys.
Your attorney reviews and approves the contract. Small modifications are common and normal. Either party may cancel during this window for any reason other than price.
The buyer's earnest money is deposited per the contract terms — we confirm it lands where it should.
Extensions to the 5 days are occasionally granted, but it is usually in your best interest to move through this period as quickly as possible.

From Dave: Once attorneys are involved, some things move a little slower — they are not on call 24/7 like we are. When you're not sure who to call, call me first.

2 Home Inspection

Runs concurrently with attorney review

The buyer's inspection window matches the attorney review period. You'll need to make the home available at reasonable times.
Sellers are not present for the inspection. A typical inspection takes about 3 hours, and the home should be in showing condition — see our Inspection Checklist for exactly how to prepare.
Most buyers also order a radon test, which sits in the home for 48–72 hours. Closed-house conditions apply: keep all windows and exterior doors shut starting 12 hours before the test begins and for its full duration.
Once inspection and radon results are in, the buyer's attorney sends a letter requesting repairs or credits. Even new-construction homes produce a list — expect some negotiating here.
Before anything goes formal, we talk through every requested item together and build a response plan. Only then does it go to your attorney for the official reply.

From Dave: Nothing on an inspection list scares us. When a repair is the right answer, I have vetted local contractors who can quote it quickly so we negotiate from real numbers, not guesses.

3 Appraisal & Loan Commitment

Typically week 2–4

Once inspection items are agreed, the buyer's lender orders the appraisal. Most take about 30 minutes, though some appraisers stay an hour or more.
Depending on the situation, you may be present or we may decide it's best to leave the appraiser alone in the home. We'll make that call together based on the circumstances — the home should be in showing condition either way.
We care about one thing here: the appraisal supporting the purchase price. That is the goal.
If an appraisal ever comes in short, there are options — a reconsideration of value, renegotiation, or restructuring. It's rare, and we'll guide you through it if it happens.
Behind the scenes, the buyer's loan moves through underwriting toward the contract's loan commitment deadline. We track that date so you don't have to. "Clear to close" is the milestone we're waiting to hear.

From Dave: Once we clear the appraisal hurdle, we are almost home.

4 Preparing for Closing

The final 2–3 weeks

Pre-sign your closing documents with your attorney — so closing day is free for the move, not paperwork.
Confirm with your attorney how you'll receive proceeds. If funds are wired, verify wiring instructions by phone with your attorney's office — never rely on emailed instructions alone.
Schedule utility transfers effective closing day — but keep everything on through closing. The home needs heat, power, and water for the final walkthrough.
Handle municipal requirements — some Fox Valley towns require a final water reading, transfer stamps, or an inspection before closing. We'll tell you exactly what your town needs.
Keep your homeowners insurance active until the closing is complete — cancel after, not before.
Gather everything the buyer will need: all keys, garage remotes, mailbox keys, appliance manuals, warranties, and any codes.
Plan the move — our Moving & Packing Guide lays it out week by week.
Arrange final cleaning. The home should be broom-clean with all personal property removed.

From Dave: Once we're past the appraisal, we'll send your detailed Instructions for Closing with dates, amounts, and specifics for your transaction.

5 Final Walkthrough & Closing Day

The last 24–48 hours

The buyer does a final walkthrough shortly before closing to confirm the home is in the agreed condition, negotiated repairs are complete, and personal property is out.
Because you pre-signed, you typically don't attend the closing itself — your attorney handles the table while you're free to move on to your next destination.
Keys, remotes, and codes change hands per the possession terms in your contract, and your proceeds are released once the transaction funds and records.

Good to Know

✓Typical timeline: 30–45 days — from contract to closing with a financed buyer; cash deals move faster

✓Dates can shift a few days — it's normal, not a red flag; we'll tell you when something actually matters

✓Keep the home maintained — lawn, systems, and condition matter until the keys change hands

✓Keep making payments — mortgage, taxes, and insurance continue as normal until closing; overages are refunded

✓Wire fraud is real — always verify wiring instructions by phone with a number you trust before any money moves

✓Call us first — attorneys handle the legal documents; we handle everything else, any day, any hour

How We Help

Under contract is where we earn it

Inspection negotiation

We review every requested item with you, price out real repair costs with trusted local contractors, and build the response strategy before your attorney sends a word.

Deadline tracking

Attorney review, inspection response, loan commitment, closing — every date in your contract is on our calendar, and we move early when anything drifts.

Vetted local referrals

Contractors, movers, cleaners, and handymen across Aurora, Geneva, Batavia, and the surrounding Fox Valley communities — ready when the inspection list or the move needs them.

A steady point of contact

Questions come up at 8 PM on a Sunday. Attorneys aren't on call 24/7 — we are. You always know exactly where your transaction stands.

We see the need because we know the need.

Questions about anything above — or something that isn't above? That's what we're here for. One call and you'll know exactly where things stand.

Dave Richert

630.906.7266
dave@richertfamily.com
richertfamily.com

Scan for every step of the process

Dave Richert · Richert Family Real Estate Team · eXp Realty · 630.906.7266 · dave@richertfamily.com · richertfamily.com