Your offer was accepted, now what? A step-by-step guide to closing

Your offer was accepted, and you are feeling that mix of excitement and nerves. That is completely normal. What happens next in the Tulsa Metro real estate market follows a pretty predictable path, and knowing what each step looks like will help you feel in control from here to closing day.

Step 1: Earnest money goes into escrow

Within a few days of the seller accepting your offer, your earnest money deposit needs to be submitted to a title company or escrow agent. This is the deposit that shows the seller you are serious about following through. In the Tulsa market, $2,000 to $5,000 is typical for homes in the $250,000 to $400,000 range. The money sits in escrow and is credited toward your down payment at closing. As long as the deal falls through for a reason covered by your contingencies, you get it back.

Step 2: Open escrow and order title work

The title company opens what is called an escrow account for your transaction. They order a title search to make sure the seller actually owns the property free and clear, with no liens or ownership disputes. In Oklahoma, this process usually takes about a week. You will also receive a preliminary title report to review. If anything looks off, your agent (that is me) will walk you through what it means and how to handle it.

Step 3: Schedule the home inspection

This is one of the most important steps. Your inspection contingency typically gives you 7 to 10 days to have a licensed inspector go through the property from foundation to roof. They check structural systems, plumbing, electrical, HVAC, roofing, and more. In Oklahoma, inspectors also pay close attention to foundation movement and HVAC age because of our soil and weather conditions. Once you have the inspection report, we review it together and decide if any repairs need to be requested from the seller.

Step 4: Appraisal ordered by your lender

Your lender orders an independent appraisal to confirm the home is worth the price you agreed to pay. If the appraised value comes in at or above your offer price, great. If it comes in below, we have options: negotiate with the seller to lower the price, make up the difference with a larger down payment, or walk away if the deal no longer works. In the current Tulsa market, most appraisals are matching contract prices, but it is good to know your options ahead of time.

Step 5: Negotiate inspection repairs

Unless you agreed to buy the home as-is, you and the seller will negotiate repairs based on the inspection report. I have done this hundreds of times, and the key is focusing on safety and structural issues rather than cosmetic wish lists. Most sellers in the Tulsa Metro are reasonable about addressing legitimate concerns, especially when the request is fair and the inspection report is thorough.

Step 6: Final loan approval and underwriting

Your lender moves your file into underwriting, where they verify everything one last time: income, assets, credit, and the property itself. Do not open new credit cards, make large purchases, or change jobs during this period. Lenders pull your credit again right before closing, and any change to your financial picture can delay or derail the loan. I always tell my buyers: once your offer is accepted, freeze your credit profile until closing day.

Step 7: The final walkthrough

A day or two before closing, you walk through the home one last time. This is your chance to confirm that the property is in the same condition it was when you made the offer, that any agreed-upon repairs were completed, and that nothing has changed. If the seller agreed to leave certain appliances or fixtures, check that they are still there. If anything looks wrong, we address it before we sign.

Step 8: Closing day

On closing day, you meet at the title company to sign the final documents, wire your down payment and closing costs, and record the deed with the county. In Oklahoma, closings typically take about an hour. After the deed is recorded, you receive the keys. That is the moment it all becomes real: the home is yours.

"She provided me with a wonderful packet explaining all the terminology that would come up as well as an explanation of timelines and estimated costs. She was our cheerleader and helped us assess what was most important to us in a home." — First-Time Homebuyer, Google Review

You are not alone in this process

Every step from offer acceptance to closing day is easier when you have an agent who has done it before. I guide my clients through each phase, answer every question, and make sure nothing slips through the cracks. Whether you are buying in Broken Arrow, Jenks, Owasso, Bixby, or anywhere in the Tulsa Metro, I will be right there with you.

Call me at 918-896-3526, email nancy@wilmethworks.com, or schedule a free consultation. Let us get you to closing day with confidence.