When a seller accepts an offer, the home goes under contract. From that point, a set timeline begins that moves the transaction toward closing.
Opening escrow and depositing earnest money
After acceptance, escrow is opened with a title or escrow company. This neutral party holds documents and funds until the sale is complete.
The buyer’s earnest money is typically due within a few business days. It is deposited into the escrow account and is usually credited back to the buyer at closing.
Due diligence and inspections
Next comes the due diligence period. This is the agreed number of days written into the contract for the buyer to review the property and related documents.
During this time, buyers commonly schedule a home inspection and may order additional inspections if needed.
Buyers also review seller disclosures. Depending on inspection results and contract terms, they may request repairs or credits within the allowed deadlines.
Appraisal and loan approval
At the same time, the lender continues processing the loan.
An appraisal is ordered to confirm the home’s value supports the loan amount.
Underwriting reviews income, assets, credit, and the property details. This continues until the lender issues final approval.
Final steps before closing
As closing approaches, the buyer receives final loan figures.
A final walkthrough usually takes place shortly before signing to confirm the home is in the expected condition.
On closing day, the buyer signs the required documents. Once the transaction is recorded with the county, ownership transfers and the keys are released.
Simple Summary
After an offer is accepted in Las Vegas, the home enters escrow and moves through inspections, loan processing, and final approvals. Once all steps are completed and documents are signed, the transaction is recorded and ownership officially transfers.
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