The Offer Was Accepted. Now What? What Your Real Estate Agent Is Doing Between “Yes” and Closing
By Ellie, Tagle Cordova
Licensed Real Estate Agent, Patriot Real Properties
Getting an offer accepted feels like a finish line.
For a buyer, it may come after weeks or months of searching.
For a seller, it may come after preparing the house, photographs, showings and negotiations.
Then everyone celebrates.
And they should.
But an accepted offer isn’t the end of a real estate transaction.
In many ways, it’s where a different kind of work begins.
A lot happens between “we have a deal” and “here are the keys.” Much of it isn’t particularly glamorous, and a good portion happens behind the scenes.
So what is your real estate agent actually doing during that period?
Quite a bit.
First: Everyone Needs to Understand What Was Agreed To
Price gets most of the attention during negotiations, but a real estate offer can involve much more than price.
Financing.
Timing.
Included or excluded items.
Credits or concessions when applicable.
Inspection-related expectations.
Other negotiated terms.
Once an offer is accepted, one of the first priorities is making sure the appropriate parties have the information they need to move the transaction forward.
In New York, attorneys play an important role in residential real estate transactions. Your agent is not your attorney and shouldn’t try to become one.
The agent’s role is to help maintain communication, provide transaction information and keep the process moving while each professional handles the matters within their expertise.
Accepted Offer Does Not Necessarily Mean Signed Contract
This is an important distinction for New York buyers and sellers.
People sometimes hear “accepted offer” and assume the house has been legally sold.
That’s not necessarily what has happened.
The transaction still proceeds through the attorney and contract process, and the parties should rely upon their attorneys for advice about when they are legally bound and what their contractual rights and obligations are.
That period can feel uncomfortable for consumers because everyone wants certainty.
My job isn’t to give legal assurances I can’t give.
My job is to help you understand where we are in the process and make sure communication doesn’t disappear just because the initial negotiation is over.
Inspections Can Create New Questions
Depending upon the transaction, the buyer may conduct a home inspection or engage other appropriate professionals.
An inspector may look at things that most buyers never think about during a showing.
Roof.
Electrical systems.
Plumbing.
Heating and cooling.
Foundation or structural concerns.
Moisture.
And other visible components and conditions within the scope of the inspection.
An inspection isn’t a pass/fail test.
And your real estate agent isn’t the person who should diagnose a structural, electrical, environmental or engineering issue.
What we can do is help keep the process organized when questions arise.
Sometimes the next call belongs to an inspector.
Sometimes an engineer.
Sometimes a contractor.
Sometimes an attorney.
Knowing who should answer the question is often as important as the question itself.
The Lender Has Work to Do Too
If the purchase involves financing, an accepted offer certainly doesn’t mean the mortgage process is finished.
The lender may still need documentation from the buyer.
The property may need an appraisal.
Underwriting needs to occur.
Additional conditions may need to be satisfied.
This is one reason I tell buyers:
Don’t disappear on your lender after you find the house.
If the lender asks for something, address it.
If your financial circumstances change, talk to the lender.
And before making significant financial decisions during the mortgage process—such as taking on new debt—speak with the appropriate lending professional about how it could affect your financing.
Your agent doesn’t underwrite your mortgage.
But we should understand that financing is one of the major moving parts of the transaction and stay aware of its progress.
There Is Work Happening on the Seller’s Side Too
Sellers aren’t simply waiting for a closing date.
Documents may need to be located.
Property questions may need to be addressed.
Attorneys and other professionals may need information.
The seller is also preparing to actually leave the property.
That sounds obvious until you consider the logistics.
Moving dates.
Furniture.
Personal property.
Final cleanout.
Keys.
Utilities.
Any items that were specifically included or excluded from the transaction.
The smoother these conversations happen before the closing, the less likely they are to become last-minute problems.
Communication Becomes Part of the Job
This is probably the least visible part of a real estate transaction.
There can be a lot of people involved:
Buyer.
Seller.
Buyer’s agent.
Seller’s agent.
Attorneys.
Lender.
Inspector.
Appraiser.
Title professionals.
Contractors or specialists when needed.
And sometimes other parties depending on the property.
Not everyone needs to speak with everyone else.
In fact, they often shouldn’t.
But somebody needs to stay aware of the transaction as a whole.
I think a strong real estate agent should be asking:
What are we waiting for?
Who needs something?
Is there an unanswered question?
Is the client confused about what happens next?
Are we approaching an important date?
That’s not flashy work.
It’s important work.
Representation Matters
Consumers should also understand whom their real estate professional represents.
New York’s agency disclosure framework distinguishes among seller’s agents, buyer’s agents, broker’s agents and, with informed written consent, dual agency. A seller’s agent owes fiduciary duties to the seller, while a buyer’s agent represents the buyer’s interests.
That matters throughout the transaction—not just when the offer is written.
New York also makes clear that brokerage compensation is negotiable; there is no mandatory commission rate established by statute or regulation.
Understanding representation, services and compensation at the beginning helps avoid confusion later.
Then Comes the Final Walk-Through
Eventually, closing gets close enough that the buyer conducts a final walk-through.
This isn’t another home inspection.
It’s an opportunity for the buyer to view the property near closing and address appropriate concerns through the transaction professionals if something is materially different from what was expected under the agreement.
Is the property in the expected condition?
Are agreed-upon included items present?
Has something significant changed?
If a question arises, the buyer’s attorney may need to become involved.
Again, the agent’s job is not to practice law.
It’s to pay attention.
And Then, Finally, Closing
Closing is the moment everyone has been working toward.
Documents are signed.
Funds and title matters are handled through the appropriate professionals.
The transaction is completed.
Keys change hands.
And suddenly all those emails, phone calls, documents, inspections, questions and deadlines become someone’s new home—or someone’s completed sale.
That’s why I don’t think an agent’s value can be measured only by finding a house online or putting a property into the MLS.
Technology can show you houses.
Representation is about what happens when real people, real money, real property and real problems enter the transaction.
“What’s Next?” Should Always Have an Answer
There will be moments in almost every transaction when the answer is:
We’re waiting.
Waiting on documents.
Waiting on an attorney.
Waiting on the lender.
Waiting on another professional.
That’s normal.
What shouldn’t be normal is a client having no idea what is happening.
I want my clients to know where we are, what we’re waiting for and what is expected of them.
Because an accepted offer is exciting.
But getting from that offer to a successful closing takes more than excitement.
It takes communication, organization, the right professionals—and someone paying attention all the way to the keys.
EllieTagle Cordova
Licensed Real Estate Agent
Patriot Real Properties
34 East Main St #346
Smithtown, NY 11787
Equal Housing Opportunity. Patriot Real Properties conducts business in accordance with applicable federal, New York State and local Fair Housing laws. This article is provided for general educational purposes only and is not legal, lending, tax, financial, inspection, title or engineering advice. Real estate transactions vary. Buyers and sellers should consult their attorneys, lenders and other appropriately qualified professionals regarding their individual transaction.
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