You've reviewed the offers, picked the best one, and signed the purchase agreement. Now what? The good news: the hard part is over. The stretch from accepted offer to cash in hand is straightforward, and in most cases takes just 7-14 days.
Here's exactly what happens in that window.
Day 1-2: The Contract Is Executed
Once both parties have signed the purchase agreement, you have a binding contract. The clock starts ticking on every timeline specified in the agreement — inspection period, closing date, and any other contingencies.
At this point, the buyer typically sends a copy of the signed contract to their preferred title company (or closing attorney, depending on your state). You should receive a copy of the fully executed agreement for your records.
What you need to do: Gather your property documents — deed, most recent mortgage statement, property tax bill, HOA information, and any surveys or previous inspection reports you have. Having these ready prevents delays.
Day 2-5: Earnest Money Deposit
The buyer deposits earnest money into an escrow account held by the title company. This is typically 1-3% of the purchase price and shows the buyer is serious. If the buyer backs out without a valid contractual reason, you may be entitled to keep this deposit.
For professional cash buyers who do frequent transactions, this happens quickly — often within 24 hours of contract execution.
What you need to do: Confirm with the title company that the earnest money has been deposited. If the buyer doesn't deposit it within the timeline specified in the contract, that's a concern.
Day 2-7: Title Search
This is the most important step between contract and closing. The title company searches public records to verify:
- •You actually own the property and have the right to sell it
- •There are no outstanding liens (tax liens, mechanic's liens, judgment liens)
- •There are no unresolved mortgages
- •There are no boundary disputes or easement conflicts
- •The chain of title is clean (no gaps in ownership history)
- •An old mortgage that was paid off but never properly released by the lender
- •A small tax lien from years ago
- •A judgment against someone with a similar name (requires an affidavit to clear)
Day 3-7: Inspection (If There Is One)
Many cash buyers waive inspections entirely, especially on as-is purchases. If the contract includes an inspection contingency, the buyer will schedule an inspector to walk through the property.
In a cash sale, the inspection is usually just informational — the buyer isn't going to hand you a repair list. They already factored the property's condition into their offer. However, if the inspection reveals something major and previously unknown (like hidden structural damage or environmental contamination), the buyer may:
- •Renegotiate the price
- •Request a credit at closing
- •In rare cases, exercise the inspection contingency and walk away
Day 5-10: Mortgage Payoff Statement
If you have an existing mortgage, the title company contacts your lender to request an official payoff statement. This document shows the exact amount needed to pay off your loan, including accrued interest through the expected closing date.
Most lenders provide payoff statements within 3-5 business days. Some are faster, some slower. The title company handles this process, but you can speed it up by calling your lender yourself and requesting it.
What you need to do: If you want to speed things up, call your lender and request the payoff statement as soon as the contract is signed. Let the title company know you've done this.
Day 7-10: Closing Documents Prepared
Once the title search is clear and all numbers are confirmed, the title company prepares the closing documents:
- •Deed: Transfers ownership from you to the buyer
- •Settlement statement (HUD-1 or closing disclosure): Itemizes every financial detail — purchase price, payoff amounts, prorated taxes, and your net proceeds
- •Affidavits: Various sworn statements required by your state
- •1099-S: Tax reporting form for the sale
What you need to do: Review the settlement statement carefully. Confirm your net proceeds match what the purchase agreement promised.
Day 10-14: Closing Day
This is the day ownership officially transfers and you get your money. Here's what happens:
Signing
You'll sign the deed, settlement statement, and any other required documents. This can happen:
- •At the title company's office
- •At a location of your choice with a mobile notary
- •Remotely via online notarization (available in most states)
Funding
The buyer wires the full purchase price to the title company. The title company then: 1. Pays off your existing mortgage (if any) 2. Pays any outstanding liens or taxes 3. Deducts any agreed-upon closing costs 4. Disburses your net proceeds to you
How You Get Paid
Your proceeds can be delivered as:
- •Wire transfer to your bank account (most common — arrives same day or next business day)
- •Cashier's check issued at closing
Recording
The title company files the new deed with your county recorder's office. This makes the ownership transfer a matter of public record. You don't need to do anything for this step.
After Closing
Your Mortgage
Your lender will process the payoff and close your loan account. You'll receive a satisfaction of mortgage (or deed of reconveyance) in the mail within 30-60 days, confirming the loan is paid in full.
Escrow Refund
If your mortgage had an escrow account for taxes and insurance, your lender will refund any remaining balance. This typically arrives as a check within 30 days of payoff.
Taxes
The sale will be reported to the IRS via Form 1099-S. If the house was your primary residence and you lived there for at least 2 of the past 5 years, you can exclude up to $250,000 in capital gains ($500,000 if married filing jointly) from your taxes. Consult a tax professional for your specific situation.
Utilities and Insurance
Cancel or transfer utilities on closing day. Cancel your homeowner's insurance policy — your insurer may refund a prorated amount of your premium.
What Could Go Wrong?
Most cash closings go smoothly. The issues that occasionally come up:
- •Title problems that take time to resolve (rare but possible)
- •Buyer delays in wiring funds (uncommon with professional buyers)
- •Missing documents from your side (prevent this by gathering everything early)
The Bottom Line
After accepting a cash offer, closing typically takes 7-14 days. The process is handled primarily by the title company — your main job is to sign documents and provide information when asked. No showings, no buyer contingencies falling through, no last-minute financing denials.
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