Congratulations! Your offer has been accepted—a significant milestone in your home-buying journey. Now, let’s navigate the path from acceptance to closing.  Since I work in the Tallahassee area, I’ll be focusing on the responsibilities outlined in the contract we use the most, the Tallahassee Board of REALTORS® Contract for Sale and Purchase. The closing process involves several key steps, with specific duties for both buyers and sellers, as well as coordinated efforts among lenders, agents, and other professionals to ensure a successful transaction.

1. Finalizing the Purchase Agreement

Once the seller accepts your offer, both parties sign the Contract for Sale and Purchase, making it legally binding. This contract details the terms of the sale, including price, contingencies, and timelines. It’s crucial to review this document carefully to understand your obligations and rights.

But don’t forget – this is an exciting step—your dream home is officially within reach! The moment your offer is accepted, emotions can run high—excitement, relief, and maybe even a little nervousness. It’s completely normal to feel all of the above. Take a moment to celebrate, but also get ready to focus, because the next steps will bring you closer to holding the keys in your hand.

2. Conducting Inspections

The TBR contract allows the buyer 15 days to perform inspections. It’s crucial to schedule inspections as soon as possible to allow enough time for identifying potential issues, negotiating repairs, and meeting contract deadlines without delaying the process. Common inspections include:

• Home Inspection:
  A general home inspection provides an overall assessment of the property’s condition, identifying potential safety hazards, structural concerns, or needed repairs. Common issues that arise include:
  • Roof damage – Missing shingles, leaks, or an aging roof that may need replacement soon.
  • Foundation cracks or settling – Could indicate structural instability.
  • Plumbing issues – Leaky pipes, slow drains, or outdated polybutylene plumbing, which is prone to failure.
  • Electrical hazards – Faulty wiring, outdated panels, or insufficient grounding that could be a fire risk.
  • Aging or failing HVAC system – Especially important in Florida, where air conditioning is essential year-round.
  • Water intrusion or past flooding – Signs of mold, mildew, or past water damage in walls, ceilings, or crawl spaces.
• Pest Inspection (Wood-Destroying Organisms – WDO Inspection):
  Florida’s humid climate makes termite infestations a major concern. Lenders often require a WDO inspection before approving a mortgage. Problems that may arise include:
  • Active termite infestations – Termites can cause extensive structural damage over time.
  • Old termite damage – Even if the infestation has been treated, past damage may affect the integrity of wood framing or floor supports.
  • Other wood-destroying organisms – Wood rot, powderpost beetles, or fungi growth due to excessive moisture.
  • Inadequate prevention measures – Homes should have proper termite barriers, like bait stations or chemical treatments, to prevent future issues.
• Survey:
  A land survey ensures that property boundaries align with legal records and helps prevent disputes. Potential issues that may arise include:
  • Encroachments – A neighbor’s fence, driveway, or structure may be built on your property, leading to legal complications.
  • Easements – The property may have utility or municipal easements that restrict how you can use certain areas (e.g., you may not be able to build a shed or pool in an easement zone).
  • Discrepancies in property lines – If the recorded property boundaries don’t match physical markers, a new survey may be required to clarify ownership.
  • Zoning violations – Structures like sheds or additions might not comply with zoning laws, potentially requiring modifications.

Additional concerns specific to our area:

• • Wood-Destroying Organisms (WDO) Inspection: In Florida, termites and other wood-destroying pests are a serious issue. A WDO inspection is highly recommended (and often required by lenders) to ensure the home is free from hidden structural damage.
  • Septic System & Well Inspection: Many properties in the Tallahassee area, especially those outside city limits, use septic tanks and private wells. A thorough septic inspection checks for system failures, while a well inspection ensures water quality and sufficient flow.
  • Mobile Homes & Insurance Challenges: Mobile homes are common in North Florida, but securing financing and insurance for them can be more complicated than for traditional homes. Many insurers are hesitant to cover older mobile homes, especially if they lack proper anchoring or updates to electrical, plumbing, and roofing systems. If you’re purchasing a mobile home, it’s important to research insurance options early and ensure the home meets lender and insurer requirements. Otherwise, you could run into delays or unexpected costs before closing.
  • HVAC & Mold Assessment: Due to Florida’s heat and humidity, HVAC systems are heavily used year-round. Ensuring the system is functioning properly can prevent costly repairs. Additionally, mold is a frequent concern in older homes or those that have experienced roof leaks or high humidity levels.
  • Drainage & Flooding Issues: Some properties in the region are in low-lying areas prone to flooding, even if they are not in a designated flood zone. A drainage assessment can help determine if the yard or foundation is at risk for water intrusion.

If inspections reveal significant issues, the buyer can negotiate repairs or request concessions from the seller. The contract outlines procedures for addressing appraisal discrepancies, allowing the buyer to proceed, renegotiate, or void the contract if an agreeable solution isn’t reached.

3. Mortgage & Financing – Keeping the Process on Track

By the time your offer is accepted, you should already have a pre-approval from your lender, meaning your financial readiness has been assessed, and you’re in a strong position to move forward. Now, it’s all about finalizing the details and keeping the process on track.

Your lender will move forward with the appraisal, ensuring the home’s value aligns with the agreed purchase price. At the same time, the underwriting process begins—where your income, credit, and debt-to-income ratio are thoroughly reviewed to approve the loan.

This stage can take time, and delays often happen when buyers are slow to provide requested documents. Stay proactive, respond quickly, and keep in close contact with your lender to avoid unnecessary setbacks. A smooth financing process helps ensure you reach the closing table on time.

Whatever you do, now is NOT the time to finance a new boat, open a dozen store credit cards, or suddenly decide you need that luxury couch on credit—your lender is watching, and any big financial moves could sink your loan faster than you can say “declined.” Keep your spending boring until after closing!

4. Title Search and Insurance

Before closing, a title company or attorney will conduct a title search to confirm the property has a clear history of ownership, with no outstanding liens or claims. If issues arise—like unpaid taxes or legal disputes—they must be resolved before closing.

Title insurance is also part of this step. Lender’s title insurance is required to protect the mortgage lender’s investment, while owner’s title insurance is optional but highly recommended to protect you from future ownership disputes. This one-time purchase ensures peace of mind that your home is legally yours.

5. The Appraisal – Proving Your Home’s Worth

Now that financing is in motion, the lender will order an appraisal to ensure the home is worth what you’re paying for it. A licensed appraiser will evaluate the property, considering factors like recent sales of similar homes, the home’s condition, and market trends.

If the appraisal comes in at or above the purchase price, great—you’re one step closer to closing! But if it comes in low, things get tricky. A low appraisal can derail financing since lenders won’t approve a loan for more than the home’s appraised value.

If this happens, you typically have a few options:

• Renegotiate with the seller to lower the price.
• Make up the difference in cash (if financially possible).
• Challenge the appraisal if there were errors or missing comparable sales.
• Walk away if your contract includes an appraisal contingency and an agreement can’t be reached.

While appraisals can be a hurdle, they help protect you from overpaying and ensure you’re making a sound investment. Your agent and lender would guide you through the best course of action if any issues arise.

6. Coordinated Efforts Among Professionals

Buying a home isn’t a solo act—it takes a whole team working behind the scenes to get you to the finish line. Keeping communication open between all parties is key to avoiding delays and unexpected surprises.

• Real Estate Agents: Your agent keeps everything on track, negotiating terms, coordinating inspections, and making sure you meet contract deadlines. Think of them as your real estate quarterback, calling the plays and keeping everyone in sync.
• Lenders: They’re responsible for processing your mortgage, ordering the appraisal, and getting final loan approval. They also work directly with the mysterious, all-powerful underwriters—those shadowy figures hidden in a financial fortress, scrutinizing every document with a fine-tooth comb and an uncanny ability to spot that one $14 Venmo charge that could “raise questions.”
• Title Companies/Attorneys: These folks make sure the seller actually owns the home and can legally sell it to you. They conduct the title search, issue title insurance, and prepare all the legal paperwork to ensure a smooth transfer of ownership.

Each of these professionals plays a crucial role in getting you to the closing table. Keep in touch, respond quickly to requests, and trust the process—they do this every day, even if it’s all new to you.

7. Preparing for Closing – The Final Stretch

You’re almost there! As closing day approaches, a few final steps will make sure everything is in place:

• Final Walkthrough: This is your last chance to check the home before signing on the dotted line. You’ll confirm everything is in the condition agreed upon, any repairs have been completed, and—most importantly—the sellers didn’t swap out the fancy new appliances for their grandma’s vintage oven.
• Closing Disclosure: Your lender will provide a breakdown of your loan terms, monthly payment, and closing costs. Read it carefully—this is not a bill you want to be surprised by.
• Funds Transfer: By now, you should know exactly how much you need to bring to closing. Wire the funds securely (double-check with your title company to avoid wire fraud scams) or bring a cashier’s check for your down payment and closing costs.

8. Closing the Deal – The Big Day

This is it—closing day! Here’s what to expect:

• Signing Documents: Get your hand ready, because you’ll be signing a lot of papers. If you don’t understand something, ask! This is one contract you don’t want to sign blindly.
• Payment of Costs: All closing costs, commissions, and taxes will be settled. Your lender and title company will handle the details, so just make sure the numbers match what you expected.
• Transfer of Ownership: Once all the documents are signed and the funds are in place, the home is officially yours! The title is recorded, and you’ll finally get the keys to your new place.

Pop the champagne—you did it! By staying on top of deadlines, keeping in close contact with your agent and lender, and being prepared for each step, you’ve successfully navigated the home-buying process.

Now, the real fun begins—moving in and making it your own!