What Happens After Your Offer Is Accepted?

“This Las Vegas and Henderson home buying guide will walk you through exactly what happens after your offer is accepted.” You found the right home, submitted your offer, and just got the call. It has been accepted. Congratulations! Now take a breath, because what comes next is just as important as finding the home itself. In the Las Vegas and Henderson market, the pace is fast, contingency windows are tight, and a few missteps can cost you the deal. I work closely with buyers to guide them through this process, helping them understand what comes next so they can feel confident and prepared. This guide gives you exactly that.

Step 1: Earnest Money Deposit

Within one to three business days of acceptance, you will need to wire your earnest money deposit into escrow. This deposit signals to the seller that you are serious and is typically applied toward your down payment or closing costs at closing.

In the Las Vegas and Henderson market, earnest money deposits typically range from one to two percent of the purchase price, though this is negotiable and can vary depending on the terms agreed upon in your contract. What is not flexible is the deadline. If you miss it, the seller may have grounds to cancel the contract immediately. Wire the funds as soon as possible and confirm receipt with the escrow officer before moving on to anything else.

Step 2: Open Escrow and Title

“A neutral third party handles escrow and manages all documents throughout the transaction.” that manages all documents and funds throughout the transaction. Nevada is a non-attorney-required state, meaning title companies typically handle the escrow process rather than lawyers, which is the norm in most Southern Nevada transactions.

The title company will perform a title search to confirm the seller has clear ownership and that there are no unresolved liens or disputes attached to the property. You will also have the option to purchase Owner’s Title Insurance. I strongly recommend it. It is a one-time cost that protects your ownership rights for as long as you own the home.

Step 3: The HOA Resale Package

f your home is in a community with a homeowners association, the seller must provide an HOA Resale Package. Most homes in Southern Nevada sit inside these communities. Once you receive the documents, Nevada law gives you five calendar days for review.

Focus on the Reserve Study first. This document shows if the HOA has enough money for future repairs. If the reserves are underfunded, you might face a special assessment. This is an unexpected bill charged to every homeowner. Reading this carefully before waiving your rights can save you thousands.

Step 4: Home Inspection

Nevada contracts typically include a ten-day due diligence period. Use this window to hire a licensed inspector. This is your chance to look closely at the home before you are fully committed.

Specifically, check the HVAC system. In Las Vegas, air conditioning units work harder than anywhere else. A failing unit is a costly emergency, not a minor fix. I also recommend a separate pool inspection and a wood-destroying insect inspection. Termites are more common in the desert than most buyers expect. Use this phase to negotiate repairs or credits.

Step 5: Home Appraisal

If you are financing the purchase, your lender will order an independent appraisal to verify that the home’s value supports the purchase price. This step protects both you and the lender. If the home appraises below the contract price, you have three options.

You can renegotiate with the seller to lower the price, you can cover the difference out of pocket, or you can use your appraisal contingency to exit the deal. None of these outcomes are ideal, but being prepared for the possibility means you will not be caught off guard. We will work through whatever comes up together.

Step 6: Loan Underwriting

“While the appraisal is being completed, your lender’s underwriter is reviewing your full financial picture. This phase requires the most discipline from buyers.” and it is the one where I see otherwise smooth transactions fall apart.

Do not buy a new car. Avoid opening new credit cards or changing jobs. It is also important not to move large sums of money between accounts without talking to your lender first. Any change in your debt-to-income ratio during underwriting can result in a loan denial, even if you are just days away from closing. You have done the hard work to get here. Protect it.

Step 7: Final Walkthrough

Your final walkthrough is typically scheduled within twenty-four to forty-eight hours before closing. This is your last chance to confirm that all negotiated repairs have been completed, that the home is in the same condition it was when you made your offer, and that nothing was damaged during the sellers move-out.

Even if everything has gone smoothly, do not skip the walkthrough. It takes less than an hour and it gives you peace of mind going into one of the biggest financial commitments of your life.

Step 8: Closing Day and Recording

In Nevada, closing is a two-part process that surprises a lot of first-time buyers. First, you sign your documents with a notary. Second, the title company submits the deed to be recorded with the Clark County Recorder’s Office. You do not legally own the home until that recording is confirmed.

Signing alone does not transfer ownership. Recording typically happens the same day, and we usually receive confirmation in the afternoon. That is the moment I get to hand you the keys, and honestly, it never gets old.