So you accepted an offer.
That’s a big moment.
You probably felt a mix of relief and excitement… maybe even a little pressure coming off your shoulders.
But then the next thought usually hits:
👉 “Okay… now what actually happens?”
Because this part isn’t always clear.
A lot of sellers think once the offer is accepted, it’s basically done.
In reality, this is where the deal either:
- Moves smoothly to closing
- Or hits a few bumps along the way
Let’s walk through it step by step so you know exactly what to expect when you’re selling a home in Minnesota.
The Short Answer
Once you accept an offer, your home goes under contract and the buyer begins their due diligence.
That usually includes:
- Earnest money deposit
- Inspection
- Appraisal
- Loan approval
- Final walkthrough
- Closing
👉 Your role now shifts from finding a buyer to getting the deal to the finish line
Step 1: Your Home Goes Under Contract
The moment you sign the offer…
👉 Your home is officially under contract.
This means:
- Price is agreed upon
- Terms are accepted
- Both sides are committed (with conditions)
But it’s important to understand:
👉 This is not a guaranteed sale yet
There are still contingencies that need to be satisfied.
Step 2: Earnest Money Gets Deposited
Shortly after acceptance, the buyer submits:
👉 Earnest money
This is a deposit that shows they’re serious about the purchase.
In Minnesota, this is typically:
- Around 1% to 3% of the purchase price
That money is held by:
- A title company
- Or the brokerage
👉 It later gets applied toward the buyer’s purchase
And if the buyer backs out for a reason not covered in the contract…
👉 That money could be at risk
Step 3: The Inspection Period
This is usually the first major step after going under contract.
The buyer schedules a home inspection, typically within:
👉 3 to 7 days
An inspector will go through the home and look at:
- Roof
- Electrical
- Plumbing
- HVAC
- Foundation
- Overall condition
After the inspection, a few things can happen.
Scenario 1: Buyer accepts the home as-is
This is the easiest path forward.
Scenario 2: Buyer requests repairs or a credit
This is very common.
Scenario 3: Buyer cancels the contract
This usually only happens if major issues are found.
👉 Most of the time, this step turns into a negotiation… not a deal breaker
Real Minnesota Example
A seller in Woodbury accepted a solid offer.
Inspection came back with:
- Aging furnace
- Minor roof wear
The buyer asked for:
- A $4,000 credit
Instead of replacing anything, the seller agreed to the credit.
👉 Deal stayed intact and moved forward
👉 This is how most inspection situations play out
Step 4: The Appraisal
If the buyer is using financing…
👉 The lender will order an appraisal.
This determines:
👉 Whether the home’s value supports the purchase price
What can happen:
Appraisal matches the price
Everything moves forward.
Appraisal comes in low
Now you have a decision to make.
Options include:
- Lowering the price
- Buyer paying the difference
- Meeting somewhere in the middle
👉 Low appraisals don’t automatically kill deals
But they do require a conversation.
Step 5: Loan Approval Process
At the same time…
👉 The buyer’s lender is working behind the scenes.
They are verifying:
- Income
- Employment
- Credit
- Debt
This is called:
👉 Underwriting
Most of the time, you won’t see this happening.
But delays can happen if:
- Buyer submits documents late
- Financial situation changes
- Lender needs more information
👉 This is why strong buyers matter
Step 6: Title Work and Legal Checks
The title company is also doing their part.
They’re checking:
- Ownership history
- Liens
- Any legal issues tied to the property
👉 The goal is to make sure the property can legally transfer to the buyer
This step usually happens quietly in the background.
Step 7: Staying on Track During the Process
This is something sellers don’t always expect.
Between acceptance and closing…
👉 There are deadlines
Things like:
- Inspection timeline
- Financing timeline
- Appraisal timeline
👉 Missing deadlines can cause delays or issues
That’s why having someone tracking everything matters.
Step 8: The Final Walkthrough
Right before closing…
👉 The buyer does a final walkthrough.
They’re checking:
- The home is in the same condition
- Agreed repairs (if any) are completed
- Nothing has changed unexpectedly
This usually happens:
👉 24–48 hours before closing
👉 It’s quick, but important
Step 9: Closing Day
This is the final step.
At closing:
- You sign documents
- Buyer signs documents
- Funds are transferred
- Ownership changes
👉 Then you hand over the keys
And just like that…
👉 The home is officially sold
What Can Go Wrong (And Why It’s Usually Fine)
Most deals go through without major issues.
But here are a few common things that can come up:
Inspection concerns
Usually handled with credits or small repairs
Low appraisal
Negotiated between buyer and seller
Financing delays
May push the closing date slightly
👉 These are normal parts of the process
👉 The key is staying calm and working through them
Minnesota Market Insight
In Minnesota, especially in areas like:
- Maple Grove
- Plymouth
- Woodbury
👉 Most accepted offers successfully close
Deals that move the smoothest usually have:
- Realistic pricing
- Strong buyer financing
- Clear communication
Common Mistakes Sellers Make After Accepting an Offer
❌ Thinking the deal is done too early
There are still steps ahead
❌ Getting emotional during inspection
It’s part of the process
❌ Ignoring timelines
Deadlines matter
❌ Making last-minute changes to the home
Keep things consistent for the buyer
👉 Avoiding these keeps things smooth
A Simple Way to Think About It
After you accept an offer…
👉 You’re now in the execution phase
The focus shifts to:
- Keeping the deal together
- Solving issues quickly
- Getting to closing
FAQ
Can a buyer back out after I accept the offer?
Yes, if they’re within contingency timelines like inspection or financing.
Do I have to fix everything the buyer asks for?
No. Everything is negotiable.
What if the appraisal comes in low?
You renegotiate or adjust the deal.
How long does this process take?
Usually 30 to 45 days.
Final Thoughts
Accepting an offer is a big step.
But it’s not the finish line.
👉 It’s the start of the final phase
👉 And how this phase is handled determines how smooth your closing will be
Next Step
If you want help navigating the process after accepting an offer in Minnesota:
👉 https://sell.dreamhomesminnesota.com/
Lesley The Realtor
Real Estate Agent in Minnesota
Helping homeowners sell with clarity, strategy, and confidence