Quick Guide for Austin Sellers: What happens between accepting an offer & vacating your home

What happens between accepting an offer & vacating your home

A client recently asked me “What are the steps between accepting an offer and vacating my house?” 

What a great question.  Getting your home under contract is only part of the real estate transaction.  Once you’ve accepted an offer and your home is under contract, you can still expect quite a bit of activity.  Here’s a brief overview:

  1. ​Most contracts include an option period, generally in the range of 7 to 10 days, that allows the buyer time to inspect the home and complete their own due diligence.   The odds are good that the buyer will have questions about the home, and the buyer may also make requests for repairs or adjustment to the price of the home depending on what the buyer discovers during the inspection.  As a result, Sellers often spend this time responding to questions and requests from the buyer.  During this period of time, the seller needs to order an Energy Audit.
  2. Once you are past the inspection, the next step is to wait on the buyer’s financing to come through.  This typically takes 14 to 21 days, which runs concurrently with the option period.
  3. From there, you can pack your house and work on moving out.
  4. The last step is “closing” when all of the documents necessary for banks to fund the sale are signed. Closing does not have to take place at the title company; we have completed closing at homes, offices and even in other countries. All you need for closing is a United States recognized notary and an identification card (sometimes 2 depending on the lender).
  5. The transaction is complete once it funds and title is transferred. We recommend bringing only 1 key to closing (leave the rest at home in a kitchen drawer along with remotes, warranties, and whatever else goes with the home) and a voided check where you want money wired.
Remember, if you want to lease the property back from your buyer after closing, it’s important to let your realtor know that so it can be arranged up front. 

How does “closing” work in relation to paying off my mortgge and transferring title to the property?  Do you do the financial transaction first and then the title transfer follows?

​That’s right, the money comes in, everything gets paid off with your lender, and then you get the remaining money​, if any.  The title transfer happens at the same time.  You won’t need to do anything other than share your loan info so we can have the correct pay off amounts at closing.  And remember!  Bring a picture ID and a voided check for the account where you want your sale profit to be deposited.  

If you like these tips, stay tuned.  In the coming months we will be launching a series of brief real estate info sessions available by phone conference or webinar.  I look forward to catching up with you then.  In the meantime, if you have other questions, please let me know. 


Paul Reddam |  September 2015


Flooring in Greece

I’m in the middle of the world’s slowest remodel on my house. My bathroom just took me 6 months because I wasn’t in a rush. Since I am agonizing over the best flooring options for the kitchen and family room in my 1957 home in Barton Hills, I looked around for inspiration when I was…

FOR SALE: Hyde Park Home with Vintage Charm — 1001 E 38th 1/2 Street, Austin 78751

Hyde Park Austin Front Porch

I am pleased to present 1001 East 38th 1/2 Street for sale with a fresh new price of 374,900! This charming 3 bedroom, 1 bath home is a great opportunity to be part of the Hyde Park neighborhood.  Great architectural interest with original shiplap ceilings, fireplace surround, and dining room built-ins.  Abundant natural light, wood floors, and a…

Austin real estate slows a little. Is it a lull or something else?

Lull or something else

After months and months of saying that the Austin real estate market is HOT, I finally have something different to report.  The market seems to be slowing.   It’s not unusual for there to be a mild slow down at the start of the school year as we ease between summer and fall.  This year…

Cozy & bright home for sale in the Zilker neighborhood of Central Austin

Jessie FB

Looking for privacy without sacrificing the Central Austin vibe?  This home is the perfect balance of both worlds. An urban oasis in the Zilker neighborhood of Central Austin, this home allows you to enjoy your view into a private canyon from the master bedroom deck or sit under your own 300 year old oak tree,…

Turquoise Tables are the Modern Day Front Porch

Turquoise Tables

Have you noticed a proliferation of turquoise yard furniture around Austin?  Drive through the Northwest Hills neighborhood, and you can’t help but notice turquoise picnic tables, chairs, and more.   At first I thought it was some new design trend, but then one of my friends and neighbors told me he was getting his wife…

What return can you get investing in a property in Austin over 10 years?

I wanted to work through a math problem I was thinking about this winter. Recently I sold the first house I ever owned. When I did the math on the rate of return over 14 years I was shocked. Including the down payment and repairs over the years, there was $60,000 invested in the property;…

How Homes Are Like People

Welcoming home in Rosedale neighborhood. Austin, Tx 78756

I must confess that I have a bit of a house addiction.  Fortunately, I can see a lot of houses inside and out since Paul is my husband.  Yea!  Bonus points for Paul! Early on in our relationship Paul and I would spend our weekends previewing homes for his clients.  I quickly learned that I…

Limited-Time Marketing Offer for Home Sellers in 78731 & 78751

If you are thinking of selling your home in the 78731 or 78751 areas of Austin, we have some exciting new marketing options for you. Not only will your home be featured on Zillow, but we can ensure that it is one of only two featured videos that are displayed for any home search in the 78731…

Rental in Central Austin’s French Place Neighborhood Coming Soon

for lease FB

My wife and I own a rent house that we are fixing up. It’s going to be beautiful when we get through. It’s a 3/1, about 1400 square feet, and is located at 1307 E 29th Street within walking distance to UT Law School, El Chile, and more. Rent will be $2100-2300 depending on the…