Getting that "your offer was accepted" call is exciting — and then reality sets in. You have a stack of deadlines ahead of you, and missing any one of them can cost you money or the deal itself. Here is exactly what happens between a signed contract and the day you get keys, using the standard Texas REALTORS® contract process.

Day 1–3: Earnest Money and the Option Fee

The moment both parties sign the contract, two clock start ticking.

Earnest money is your good-faith deposit, typically 1% of the purchase price, delivered to the title company within 3 business days of the contract execution date. In a competitive DFW market, some buyers offer more to signal seriousness. This money goes toward your closing costs or down payment at the end — it is not an extra fee.

The option fee is separate. It buys you the unrestricted right to terminate the contract for any reason during the option period. The fee is typically a few hundred dollars and goes directly to the seller (not the title company) within 3 days. If you do not deliver it on time, you lose your termination right.

Texas-Specific Rule: Both the earnest money and the option fee have their own delivery deadlines. Missing the option fee deadline — even by one day — eliminates your right to terminate without penalty. Your agent should confirm delivery methods and timing immediately after execution.

Days 1–10: The Option Period

The option period is typically 7 to 10 days (negotiated in the contract). During this window, you can cancel the deal for any reason and get your earnest money back. This is your primary inspection window.

Hire a licensed Texas home inspector to conduct a general home inspection. Depending on the property, you may also want:

  • A foundation inspection (common in DFW due to expansive clay soils)
  • A roof inspection if the general inspector flags concerns
  • A pool inspection if applicable
  • A sewer scope for older homes

Once you have the inspection report, you can request repairs or a seller credit, or simply walk away if the findings are unacceptable. Sellers are not required to make repairs — negotiation is the path forward.

Flood Zone Check: Before the option period ends, verify the property's flood zone status using the FEMA Flood Map Service Center. If it is in a Special Flood Hazard Area, flood insurance will be required by your lender and can add significantly to your monthly costs.

Days 7–21: Appraisal and Mortgage Processing

While you are in or just past the option period, your lender orders an appraisal. The appraiser is an independent licensed professional who assesses the home's market value for the bank — not for you.

If the appraised value comes in at or above your purchase price, you proceed normally. If it comes in below, you have a few options: renegotiate with the seller, pay the difference out of pocket, or (if the contract includes an appraisal contingency) potentially exit the deal.

Simultaneously, your lender's underwriting team is reviewing your full file — tax returns, pay stubs, bank statements, and the property details. Do not make large purchases, open new credit accounts, or change jobs during this period. Any of these can delay or jeopardize your loan approval.

Days 14–30: Title Search and Survey

The title company runs a title search to confirm the seller has clear ownership and no undisclosed liens, judgments, or easements attached to the property. You will receive a title commitment outlining what the title insurance policy will and will not cover.

A property survey is typically required by lenders. It shows the exact boundaries, easements, and any encroachments. In Texas, you can sometimes use an existing survey if it is recent and the seller has it available, which can save approximately $400–$700.

Closing Disclosure Timing: Per federal rules (TRID), your lender must deliver your Closing Disclosure at least 3 business days before closing. Review it carefully and compare it line-by-line to your Loan Estimate. Flag any unexpected fees to your agent and lender immediately.

1–3 Days Before Closing: Final Walkthrough

The final walkthrough is not a second inspection — it is a confirmation that the property is in the same or agreed-upon condition as when you signed. Check that:

  • Agreed-upon repairs were completed (get receipts)
  • No new damage occurred during the seller's move-out
  • Appliances and systems included in the sale are still present and working
  • The home is empty of the seller's belongings (unless negotiated otherwise)

If something is wrong, flag it before you sign at the closing table, not after.

Closing Day

Closing in Texas typically happens at the title company's office. You will sign a significant stack of documents — most of which are your loan documents — and pay your closing costs via wire transfer or cashier's check. In the DFW area, same-day funding and key delivery is common, though your contract specifies the exact possession date.

After signing, the title company records the deed with the county, and you become the legal owner of the property.

The window from executed contract to closing is typically 30 to 45 days for financed purchases, though cash transactions can close in as few as 10 to 14 days. Knowing each step in advance — and having a licensed buyer agent (TREC #9015220) guiding your deadlines — is what keeps the process from becoming overwhelming. The sequence is straightforward once you understand it.