What Happens After the Purchase Agreement Is Signed?

Your Step-by-Step Contract-to-Close Timeline

Getting a signed purchase agreement is exciting—but it's only the beginning.

Many people assume the hard work is over once everyone signs the contract.

In reality, this is when the transaction becomes a carefully managed project filled with deadlines, documents, inspections, lender requirements, title work, and constant communication.

Miss one step, and your closing could be delayed—or worse, the deal could fall apart.

Here's what happens after the ink dries.

Step 1

Open Escrow

The first step is opening escrow (or opening title, depending on your state).

This includes:

• Sending the contract to the title company

• Delivering earnest money instructions

• Opening the transaction file

• Confirming buyer and seller information

This officially starts the transaction.

Step 2

Review the Contract

Every page is reviewed to identify:

✔ Deadlines

✔ Contingencies

✔ Financing terms

✔ Closing date

✔ Special provisions

Missing even one deadline can create problems later.

Step 3

Track Critical Dates

Every contract contains important dates, including:

• Earnest Money

• Inspection Period

• Financing Deadline

• Appraisal

• HOA Documents

• Title Commitment

• Closing Disclosure

• Final Walkthrough

• Closing

Each one must be monitored carefully.

Step 4

Coordinate with Everyone

A transaction coordinator communicates with:

• Buyer

• Seller

• Realtor

• Lender

• Title Company

• Inspectors

• HOA

• Insurance Agent

Keeping everyone informed prevents surprises.

Step 5

Manage the Inspection Period

This includes:

• Scheduling inspections

• Tracking repair requests

• Monitoring response deadlines

• Updating all parties

  
  

Step 6

Follow Financing

The lender will request documents throughout the process.

A TC follows up on:

• Loan status

• Appraisal

• Conditions

• Clear-to-Close

  
  

Step 7

Prepare for Closing

As closing approaches:

• Title prepares documents

• Closing is scheduled

• Final walkthrough occurs

• Closing Disclosure is reviewed

• Utilities are transferred

• Everyone confirms appointments

  
  

Step 8

Closing Day

Documents are signed.

Funds are transferred.

The deed records.

The transaction officially closes.

Behind every successful closing are dozens of moving parts.

Professional transaction coordination keeps everything organized, communicated, and on schedule.

That's exactly what Freedom Transaction Services®  does every day.