What Actually Happens After You Make an Offer on a Home in Pennsylvania
- Beyond Business VA
- Dec 17, 2025
- 4 min read
Making an offer on a home in Pennsylvania feels like a major milestone. Many buyers believe that once the seller accepts, the process is essentially finished. In reality, acceptance is only the beginning of several important steps that determine whether the deal successfully reaches closing.
This guide explains exactly what happens after you make an offer on a home in Pennsylvania, so you know what to expect and how to avoid common mistakes.
Step 1: The Seller Reviews and Accepts the Offer
After an offer is submitted, the seller can accept it, reject it, or respond with a counteroffer. Most Pennsylvania purchase agreements include a response deadline. Once both parties sign the same version of the agreement, it becomes a legally binding contract and all timelines officially begin.
Step 2: Earnest Money Deposit Is Submitted
After acceptance, buyers must submit an earnest money deposit to show good faith.
In Pennsylvania:
Earnest money is typically 1 to 3 percent of the purchase price
Funds are held by a broker or title company
The deposit is credited toward closing costs
Missing this deadline can place the contract at risk.
Step 3: The Home Inspection Period Begins
The inspection period allows buyers to evaluate the property’s condition before fully committing.
During this stage, buyers typically:
Hire a licensed home inspector
Review the structure and major systems
Request repairs or credits if issues are found
According to the Pennsylvania Real Estate Commission https://www.dos.pa.gov/ProfessionalLicensing/BoardsCommissions/RealEstateCommission/Pages/default.aspx
inspection contingencies are designed to protect buyers from moving forward with properties that have undisclosed or significant defects.
If serious issues cannot be resolved, buyers may terminate the contract under the inspection contingency.
Step 4: Mortgage Application and Underwriting
Once under contract, your lender begins full underwriting.
This includes:
Income and employment verification
Asset and credit review
Appraisal ordering
The Consumer Financial Protection Bureau https://www.consumerfinance.gov/owning-a-home/
advises buyers to avoid opening new credit accounts, changing jobs, or making large purchases during underwriting, as these actions can delay or cancel loan approval.
Step 5: The Home Appraisal Is Ordered
In Bucks County, buyers often review recent comparable sales and local property data through resources such as bucksproperties.com to better understand pricing trends and valuation expectations before negotiating appraisal outcomes.
The appraisal confirms that the home is worth the agreed purchase price. It protects the lender, not the buyer.
If the appraisal comes in low, buyers may:
Renegotiate the price
Bring additional cash
Challenge the appraisal
Exit the contract if allowed
The National Association of Realtors https://www.nar.realtor/home-buyers-and-sellers
notes that appraisal gaps are common in competitive markets and should be anticipated.
Step 6: Title Search and Title Insurance
A title company performs a title search to ensure there are no liens, disputes, or unpaid taxes attached to the property.
Buyers also purchase title insurance, which protects against future ownership claims. The U.S. Department of Housing and Urban Development https://www.hud.gov/topics/buying_a_home
explains that title insurance is a standard safeguard in residential real estate transactions.
Step 7: Final Loan Approval and Clear to Close
Once underwriting, appraisal, and title work are completed, the lender issues a clear to close.
At this stage:
Loan terms are final
The Closing Disclosure is issued
The closing date is confirmed
Buyers must receive the Closing Disclosure at least three business days before closing.
Step 8: Final Walkthrough of the Property
The final walkthrough usually occurs within 24 to 48 hours before closing.
Buyers confirm that:
The home is in agreed condition
Repairs were completed
No new damage has occurred
This step helps prevent last-minute surprises.
Step 9: Closing Day in Pennsylvania
On closing day, documents are signed, funds are transferred, and the deed is recorded.
In Pennsylvania:
Closings are commonly handled by title companies
Remote or hybrid closings may be available
Keys are released once recording is complete
Once the deed is recorded, ownership officially transfers.
Common Mistakes Buyers Make After Offer Acceptance
Many deals fall apart after acceptance rather than before. Common mistakes include:
Missing contingency deadlines
Making large purchases before closing
Delayed responses to lender requests
Assuming acceptance guarantees completion
Staying informed and responsive greatly improves the chance of a smooth closing.
Frequently Asked Questions
How long does it take to close on a home in Pennsylvania?
Most transactions close within 30 to 45 days, depending on financing and inspections.
Can a buyer back out after an offer is accepted?
Yes, if contingencies such as inspection or financing are included. Without contingencies, earnest money may be forfeited.
What happens if the appraisal is low?
Buyers may renegotiate, pay the difference, challenge the appraisal, or exit if permitted.
Is a real estate attorney required in Pennsylvania?
No, although some buyers choose to consult one depending on the transaction.
When do I officially own the home?
Ownership transfers once the deed is recorded and funds are disbursed.
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Closing Guidance for Pennsylvania Buyers
Understanding what happens after your offer is accepted gives you clarity and confidence throughout the home buying process. Preparation and awareness are the keys to reaching the closing table successfully.
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