Contract to close: the transaction timeline.
A plain-language walk through the real estate closing process, from accepted offer to recorded deed, and where things tend to go sideways.
It is the sequence of steps a real estate transaction moves through after an offer is accepted: earnest money, inspection, appraisal, financing, title, contingency removals, the final walkthrough, and closing. Order and timing vary by state and contract, but the milestones are consistent.
The 11 stages · order and timing vary by state
Offer accepted (under contract)
Both parties sign the purchase agreement. The clock on every contingency and deadline starts here.
Where the elves help: Velvet Elves logs the contract dates and builds the deadline timeline automatically.
Earnest money deposited
The buyer delivers the good-faith deposit to escrow within the contract window.
Inspection period
The buyer inspects the property and reviews its condition before the inspection deadline.
Where the elves help: Deadlines are tracked and surfaced before they expire, so the window never lapses.
Inspection negotiation
Buyer and seller negotiate repairs, credits, or price based on inspection findings.
Appraisal
The lender orders an appraisal to confirm the home's value supports the loan.
Loan processing & underwriting
The lender verifies the buyer's finances and processes the mortgage application.
Title search & commitment
The title company researches ownership history and issues a title commitment, flagging any liens or objections.
Where the elves help: Document requests and the title timeline are organized in one place, with nothing lost to email.
Contingency removal
As each condition is satisfied, the corresponding contingency is removed per the contract.
Clear to close
The lender issues final loan approval and the closing disclosure is delivered to the buyer.
Final walkthrough
The buyer confirms the property condition and agreed repairs shortly before closing.
Where the elves help: The walkthrough and closing dates stay front and center for everyone involved.
Closing & recording
Documents are signed, funds are disbursed, and the deed is recorded, the transaction is complete.
Closing timeline questions
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