From Accepted Offer to Sold: The Final Stretch
Accepting an offer is a major milestone — but it’s not the finish line. The period between contract acceptance and settlement is where transactions can succeed or stumble, and where the experience of your REALTOR® matters most. There are deadlines to track, inspections to navigate, and an appraisal to manage — all while coordinating with your lender, the buyer’s agent, the title company, and the settlement attorney.
We’re Susan & Kurt Johnston, REALTORS® with Iron Valley Real Estate of York County. Kurt actively manages every piece of the contract-to-close process on your behalf — tracking deadlines, communicating with all parties, and keeping you informed at every step so there are no surprises on settlement day.
The Contract-to-Close Timeline
| Timeframe | What’s Happening |
|---|---|
| Days 1–3 | Buyer deposits earnest money; inspection(s) scheduled |
| Days 3–10 | Home inspection(s) completed; report delivered to buyer |
| Days 7–12 | Inspection response period — buyer submits requests if any; we negotiate on your behalf |
| Days 5–15 | Lender orders appraisal; appraiser schedules visit |
| Days 10–20 | Appraisal completed; report delivered to lender |
| Days 7–21 | Title search underway; title company reviews public records |
| Days 14–30 | Buyer’s mortgage commitment / conditional approval issued |
| Days 25–35 | Final mortgage conditions cleared; “Clear to Close” issued |
| Day before closing | Buyer’s final walkthrough |
| Settlement Day | Documents signed, funds transferred, keys exchanged — you’re done! |
Timelines vary by transaction complexity, lender, and contract terms. Your Agreement of Sale specifies all key deadlines.
The Home Inspection: What to Expect as a Seller
The buyer will almost certainly hire a licensed home inspector to examine your property. This is a standard and expected part of every transaction — not a sign of distrust. Here’s what the process looks like from your side:
- You’ll receive a request to provide access for the inspection — typically a 2–4 hour appointment
- We recommend you not be present during the inspection — buyers and inspectors are more candid and comfortable when the seller isn’t there
- Ensure all utilities are on and all areas are accessible — attic, basement, crawl space, electrical panel
- The buyer will receive a written report; we typically don’t see it unless the buyer submits a repair request
Responding to Inspection Requests
After reviewing the inspection report, the buyer may submit a request for repairs, a price reduction, or a closing cost credit. As the seller, you have the same three options you had when the offer was received: accept, counter, or reject.
| Inspection Request Type | How We Advise |
|---|---|
| Safety issues (electrical, structural, HVAC) | Generally worth addressing — these carry the most negotiating weight and can affect financing |
| Cosmetic issues | Often reasonable to decline — normal wear and tear is expected in a lived-in home |
| Maintenance items | Evaluate case by case — we’ll help you determine what’s reasonable and what isn’t |
| Cash credit in lieu of repairs | Often the cleanest solution — avoids contractor coordination and gives the buyer control over the work |
| Unreasonable laundry list requests | We’ll push back professionally and negotiate to a reasonable middle ground |
Why pre-listing preparation pays off here: A seller who has addressed obvious repairs before listing arrives at this negotiation from a position of strength. A well-maintained home produces shorter inspection reports, fewer buyer concerns, and far less post-inspection re-negotiation.
The Appraisal: Protecting the Transaction
If the buyer is financing their purchase, their lender will order an independent appraisal to confirm that the home’s value supports the loan amount. As a seller, there’s little you need to do for the appraisal — but understanding the process helps you anticipate potential issues.
How the Appraisal Works
- The buyer’s lender orders the appraisal through an independent Appraisal Management Company
- A licensed PA-certified appraiser visits the property — typically a 30–60 minute appointment
- The appraiser reviews the home’s condition, features, and location, then compares it to recent sales
- A formal written appraisal report is produced within approximately 5–10 business days
What If the Home Appraises Below the Sale Price?
This is called an appraisal gap and it requires resolution before closing can proceed. As the seller, your options include:
| Option | What It Means |
|---|---|
| Reduce the sale price | Bring the price down to the appraised value — most common resolution |
| Buyer pays the gap | Buyer covers the difference between appraised value and contract price in cash |
| Split the difference | Both parties share the gap — partial price reduction, partial cash from buyer |
| Challenge the appraisal | Request reconsideration of value with additional comparable sales — sometimes effective |
| Cancel the transaction | If parties cannot agree, the appraisal contingency may allow the buyer to exit |
Proper pricing from the start significantly reduces the likelihood of an appraisal gap. A home priced at market value will almost always appraise at or near the sale price.
Settlement Day: What You Need to Do
In Pennsylvania, settlement is typically conducted at a title company or settlement agency. As the seller, your settlement experience is usually straightforward:
Before Settlement Day
- Complete all agreed-upon repairs and keep receipts for documentation
- Continue maintaining the home in the same condition as when the offer was made
- Remove all personal property that was not included in the sale
- Arrange for utilities to remain on through settlement day
- Gather any documentation the settlement agent requests — deed, HOA information, warranties
The Final Walkthrough
The buyer will conduct a final walkthrough, typically 24–48 hours before settlement, to confirm the home’s condition and that agreed-upon repairs were completed. This is a routine step — not a new negotiation. A well-prepared home with all repairs documented passes without issue.
At Settlement
- Bring a government-issued photo ID
- Bring all keys, garage door openers, mailbox keys, and any access codes
- Sign the deed transferring ownership to the buyer
- Review and sign the settlement statement confirming all proceeds and credits
- Receive your net proceeds — typically via wire transfer or check
Understanding Your Seller’s Closing Costs
As a seller in Pennsylvania, you can expect to pay certain costs at settlement. Here’s a general overview — your settlement agent will provide an exact estimate in advance:
| Cost Item | Typical Amount | Notes |
|---|---|---|
| Real Estate Commission | Negotiated — specified in listing agreement | Fully negotiable; covers listing agent services |
| PA State Transfer Tax | 1% of sale price (seller’s share) | Typically split 50/50 with buyer — 2% total |
| Local Transfer Tax | Varies by municipality | Ask us about your specific area’s rate |
| Mortgage Payoff | Your remaining loan balance + per diem interest | Paid from proceeds at settlement |
| Title / Settlement Fee | $300–$600 (approx.) | Sometimes split with buyer |
| Pro-Rated Property Taxes | Your share through settlement date | Calculated at closing based on annual tax amount |
| HOA Fees (if applicable) | Pro-rated through settlement date | Plus any required resale certificate fees |
| Agreed Seller Concessions | As negotiated in the Agreement of Sale | Closing cost assistance or buyer agent fee coverage if agreed to |
All figures are approximate. Your settlement agent will provide an exact seller’s net sheet prior to closing. Consult your tax advisor regarding any capital gains implications of your sale.
We’re With You All the Way to the Table
We don’t hand you off to a transaction coordinator and disappear once you’re under contract. Kurt actively manages every stage of the closing process — tracking deadlines, coordinating with your lender, the buyer’s agent, and the title company, and keeping you informed throughout. Our goal is that you arrive at settlement day with confidence, no surprises, and a clear picture of your net proceeds.
See what our clients say about their experience working with us on the Client Reviews page.
Frequently Asked Questions
Do I need to be present at settlement?
In most Pennsylvania transactions, yes — sellers typically attend settlement to sign the deed and settlement documents. In some situations, sellers can sign documents in advance or provide a power of attorney. We’ll work with the settlement agent to accommodate your situation if attendance is a challenge.
When do I receive my proceeds?
Proceeds are typically disbursed on settlement day — either as a wire transfer to your bank account or as a check from the settlement company. Confirm the method and timing with your settlement agent in advance.
What if the buyer tries to re-negotiate after the inspection?
Post-inspection negotiation is normal and expected. Our job is to represent your interests firmly while keeping the transaction moving toward a successful close. We’ll advise you on what’s reasonable, what isn’t, and how to respond strategically to every request.
What if the transaction falls through?
Transactions occasionally fall through — typically due to financing issues, inspection impasses, or appraisal problems. When this happens, we immediately reassess, address whatever caused the issue if possible, and re-launch quickly. We’ll also advise you on your rights regarding the earnest money deposit depending on the specific circumstances.
Are there capital gains tax implications from my sale?
Depending on your situation — how long you’ve owned the home, how long it was your primary residence, and your overall tax picture — there may be capital gains considerations. We strongly recommend consulting a tax advisor before closing. This is not an area where a REALTOR® can or should provide guidance.