What Happens After Your
Offer Is Accepted.

You found the right home. You wrote a solid offer. And the seller said yes. Congratulations, that is a huge milestone. But if this is your first time buying in the Dayton market, you might be wondering what comes next. The period between offer acceptance and closing day can feel like a blur of deadlines, paperwork, and unknowns.

I have guided hundreds of buyers through this exact process over the last 20 years. The buyers who feel the most confident are the ones who know what to expect before it happens. Here is exactly what happens after your offer is accepted, broken down step by step.

Step 1: Deliver the earnest money deposit

Within three to five business days of your offer being accepted, you will need to deliver your earnest money deposit. This is a good-faith deposit that shows the seller you are serious about following through on the contract. In Ohio, the deposit is typically 1% to 3% of the purchase price. On a $275,000 home (the current median sale price in Dayton), that works out to roughly $2,750 to $8,250.

The money is held in escrow by a title company or the broker's trust account, not by the seller directly. It will be applied toward your down payment and closing costs at settlement. If the deal falls through due to a contingency in the contract (like an inspection issue or financing problem), you get it back. If you walk away for no contractual reason, the seller may keep it.

Step 2: Schedule your home inspection

Your inspection period is typically 7 to 14 days from the date the contract is signed. This is one of the most critical windows in the entire process. You will hire a licensed home inspector to evaluate the property from roof to foundation, including the HVAC, electrical, plumbing, insulation, and structural components.

In the Dayton area, a standard home inspection for a single-family home generally costs between $350 and $500. Depending on the property, you may also want to add a radon test, a termite inspection, or a sewer scope. These add-ons are typically $100 to $250 each but can save you thousands in unexpected repairs down the road.

If the inspection reveals material defects, you have options: you can ask the seller to make repairs, negotiate a credit at closing, or in some cases, terminate the contract and get your earnest money back. About 23% of sellers in the current Dayton market have reduced their asking price at least once, so there is room for thoughtful negotiation if serious issues come up.

Step 3: Appraisal and underwriting (they happen side by side)

While the inspection is going, your lender is working behind the scenes. Once your offer is accepted, the lender orders an appraisal to confirm the home is worth the purchase price. Appraisal turn times in the Dayton area typically range from 7 to 21 days, depending on appraiser availability and how busy the market is.

At the same time, your loan file goes through underwriting. The underwriter verifies your income, assets, credit, and employment. This is where having your documents organized upfront really pays off. If your financial situation is straightforward and your documentation is clean, underwriting can move quickly. If there are questions or missing paperwork, it can cause delays.

With mortgage rates currently hovering around 6.55% to 6.83% for a 30-year fixed loan (as of mid-August 2026), locking in your rate when you are confident in the timeline is worth discussing with your lender. Rate locks typically last 30 to 45 days, which aligns well with a standard closing timeline.

Step 4: Title search and homeowners insurance

The title company will perform a title search to make sure the property is free of liens, judgments, or ownership disputes. This is standard and protects you from inheriting any legal or financial claims on the property. Title insurance is generally required by your lender and is a one-time cost paid at closing.

You also need to secure homeowners insurance before closing. Your lender will require proof of coverage, so do not wait until the last minute. Shop around with local Dayton-area insurers and compare quotes. Depending on the age and location of the home, annual premiums in Ohio typically range from $800 to $1,400 for a standard policy.

Step 5: The final walk-through

Within 24 to 48 hours before closing, you will walk through the home one last time. This is not a second inspection. It is a confirmation that the property is in the condition you agreed upon. The seller should have completed any negotiated repairs, the home should be clean, and none of the agreed-upon items (appliances, fixtures, window treatments) should have been removed.

If something is not right, your agent will work with the seller's agent to resolve it before you sit down at the closing table. This is a straightforward step if everything is in order, but do not skip it. I have seen buyers catch issues on the final walk-through that would have been much harder to deal with after closing.

Step 6: Review your closing disclosure

At least three business days before closing, your lender will provide a Closing Disclosure. This is the final document that spells out your loan terms, monthly payment, closing costs, and how much cash you need to bring to the table. Read it carefully. Compare it to the Loan Estimate you received earlier. If the numbers changed significantly, ask questions before closing day.

For a typical Dayton-area home at the current median price of $275,000, closing costs (excluding the down payment) generally range from 2% to 5% of the purchase price. That is roughly $5,500 to $13,750 in additional funds you will need at the closing table, depending on the loan type and local fees.

Step 7: Closing day

Most financed home purchases in Ohio close 30 to 45 days after offer acceptance. Cash purchases can close faster, sometimes in as little as 7 to 14 days. At closing, you will sign a stack of documents, wire or bring a cashier's check for your down payment and closing costs, and receive the keys to your new home.

You and the seller will each have representation at the table or on the call. Your agent and the closing agent will walk through each document with you. Once everything is signed and the funds are disbursed, the home is officially yours.

A few things worth knowing before you start

The buyers who navigate this process smoothly share a few habits. They respond quickly to requests from their lender and agent. They keep their financial situation stable (no new credit cards, car loans, or major purchases between offer and closing). And they stay in close communication with their agent throughout every step.

In the current Dayton market, where the average home spends about 38 to 40 days on the market and inventory is tight at roughly 1.3 to 2 months of supply, homes in desirable neighborhoods like Beavercreek's Hunters Pointe and Hunters Ridge communities are still drawing strong interest. A smooth, well-managed closing process gives you confidence and keeps you ahead of the competition.

If this is your first time buying in Ohio, you do not have to figure it out alone. I have walked buyers through every one of these steps more times than I can count, and I know where the process tends to trip people up. My job is to make sure that does not happen to you.