Once you accept an offer on your Las Vegas home, escrow opens within a day or two and the buyer’s earnest money goes into a trust account. That is the start of a process, not the end of one. The buyer still has a due diligence period and usually a financing contingency, both of which give them a real way to walk away before closing.
What happens the day you accept
Your agent and the buyer’s agent open escrow with a title company. That triggers every deadline in the contract, counted from the date both sides signed, not the date you first saw the offer.
The buyer has a set number of days to deposit earnest money into that escrow account. Missing that deadline is one of the few things that can actually put the buyer in default.
The due diligence period
This is when the buyer’s inspectors go through the home. They can ask you to make repairs, offer a credit, or in some cases cancel the contract and get their earnest money back.
You are not obligated to agree to every request. You do have to respond in writing within the time the contract allows.
Your disclosure obligations
Nevada requires sellers to complete a Seller’s Real Property Disclosure, known as the SRPD. It asks about known defects and material issues with the property, not guesses about what might be wrong.
Answer it honestly, based on what you actually know. If something changes about the property after you sign it and before closing, tell your agent so the disclosure can be updated.
What the buyer’s lender needs from you
If the buyer is financing, an appraiser will need access to the home, usually scheduled through your agent. HOA documents, if you have an HOA, typically get requested around this point too.
A low appraisal is one of the more common reasons a deal gets renegotiated after acceptance. It is worth knowing that possibility exists rather than being surprised by it.
Getting ready to close
The title company orders a payoff statement on any existing loan and starts preparing the settlement statement. You will get a closing disclosure to review before you sign anything final.
- Confirm your forwarding address and how you want proceeds sent
- Line up movers or a closing date that works with your own purchase, if you are buying too
- Ask your agent to walk you through the final numbers before you get to the table
Simple summary
Accepting an offer starts the clock. Between that day and closing, you still have inspections, disclosures, and possibly an appraisal to get through, and the buyer has a real way out until those are resolved.
If you want a clear picture of what your Las Vegas home is worth and what selling it would actually look like, you can start that here: Get Your Free Home Valuation