What happens after your offer is accepted in Texas?
After your offer is accepted in Texas, you enter a roughly 30-to-45-day process managed through a title company. This includes a negotiated option period (typically 7–10 days in Austin's current market) during which you can walk away for any reason and get your earnest money back, followed by inspection, financing, appraisal, survey, and final closing. Key deadlines are strict — missing the option period termination window can put your earnest money at risk.
By Carmen Reese | April 30, 2026
That call from your agent — "your offer was accepted" — is one of the best moments in a home purchase.
Then about 30 seconds later, the questions start.
What do I do now? What happens next? What if the inspection finds something? Can I still back out? When do I actually get the keys?
This is one of the most common questions Texas buyers ask, and for good reason. The process between accepted offer and closed transaction involves a specific sequence of events, each with its own deadlines and real financial implications. Texas has some features — the option period, the survey requirement, the way property taxes are handled at closing — that catch a lot of buyers off guard.
Here's exactly how it works.
Step 1: The Clock Starts — Option Period and Earnest Money (Days 1–3)
Within three days of your contract being "executed" (meaning all parties have signed and the contract date is set), two things need to happen:
Your earnest money is delivered to the title company. In the Austin market, earnest money on a $400,000–$600,000 home typically runs $3,000–$6,000 — roughly 1% of the purchase price. The title company holds it in escrow. If you close, it's credited toward your purchase. If you terminate during the option period, you get it back in full.
Your option fee is delivered to the seller. Texas has something most states don’t: a negotiated option period—an unrestricted right to terminate the contract for any reason. In Austin’s current market, option periods typically run 7–10 days. To secure this right, you pay the seller a small non-refundable option fee, usually $100–$500. In many transactions, both the option fee and earnest money can be sent through the title company, and the title company will guide the buyer through that process to ensure funds are delivered correctly and on time. If you terminate during the option period, you typically lose the option fee but keep your earnest money. If you close, the option fee is credited back to you as a line-item on your closing statement.
Missing the 3-day delivery deadline for either payment can affect your contract rights, so move quickly once the contract is executed.
The title company opens your file. Simultaneously, the title company orders a title search — a review of public records to confirm clean ownership and check for any surprises: outstanding liens, unpaid taxes, unresolved judgments, or competing claims. Expect this to take 5–10 business days.
Before you're even in contract, having the right agent helps you think through the option period length, option fee amount, and earnest money deposit strategically. For a detailed look at what to include in a winning offer, see The Essential Offer Checklist for Austin Home Buyers.
Step 2: Inspection and Option Period Decision (Days 1–10)
Your option period is your window to get the full picture on the property — and decide whether you want to proceed.
Schedule your home inspection immediately — ideally within the first two days of the option period. A licensed inspector will assess the roof, foundation, plumbing, electrical, HVAC, and every major system in the house. In the Austin market, inspection fees typically run $350–$600 for a standard single-family home.
Based on the report, you have three choices before the option period expires:
Proceed as-is — accept the property in its current condition with no changes to the contract
Negotiate repairs or credits — request that the seller address specific items, or provide a closing cost credit in lieu of repairs
Terminate the contract — walk away completely, get your full earnest money back, and lose only the option fee
The termination deadline is 5:00 PM local time on the last day of the option period. These are calendar days, not business days. Miss that window and you lose your unconditional right to terminate — from that point forward, backing out requires a specific contractual reason (financing denial, unresolved title defect, or seller default).
Knowing how to read an inspection report — and how to negotiate effectively in the current Austin market — is where a skilled agent earns their keep. For a deep dive into that process, see Navigating Home Inspection Contingencies in Austin.
Step 3: The Survey — A Texas Requirement (Days 3–14)
Here's the step that surprises most buyers moving to Austin from out of state: Texas requires a survey as part of most residential closings.
A survey is a licensed surveyor's official documentation of the property's boundary, improvements, and easements. Title companies require it to issue an owner's title insurance policy. If the seller has a recent survey on file (typically within the last 10 years and without changes to the property), it can often be reused. If not, you'll need to order a new one.
Expect to pay $500–$1,500 for a standard residential survey in the Austin metro, with a 7–14-day turnaround. Order it early — survey delays are one of the most common causes of closing date pushbacks.
Step 4: Financing — From Pre-Approval to Clear to Close (Weeks 2–4)
Your pre-approval letter got your offer accepted. Now your lender completes the formal underwriting process.
This includes:
A formal loan application with complete documentation (tax returns, W-2s, pay stubs, bank statements)
An appraisal — an independent valuation ordered by your lender to confirm the home is worth what you're paying
Underwriting review — the lender's process of verifying your income, assets, credit, and the property itself
Final "clear to close" — your lender's authorization to proceed to closing
The appraisal is the wildcard. If the appraised value comes in below your contract price, you and the seller need to figure out how to make the deal work. Options include: the seller reduces the price to the appraised value, you pay the difference in cash out of pocket, or you both meet somewhere in the middle. If you can't agree, the financing contingency in a Texas contract typically allows you to terminate and recover your earnest money.
In the Austin market right now, roughly 19% of homes appraise below contract price — higher than in recent years, partly because prices are still adjusting from the 2022 peak. This is worth discussing with your agent before you make an offer, especially if you're bidding above list price.
Your closing costs as a buyer in Travis County typically run 2–3% of the purchase price. On a $500,000 home, that's $10,000–$15,000, covering lender fees, the lender's title insurance policy, appraisal, prepaid interest, and insurance and property tax escrow. For a full itemized breakdown, see Closing Costs in Austin, TX: What Buyers and Sellers Actually Pay in 2026.
Step 5: The Week Before Closing — Disclosure Review and Final Walkthrough
As you approach your closing date, the title company prepares your closing figures while working concurrently with your lender to balance and confirm all transactional amounts. Around this same time, your lender is required to provide your Closing Disclosure — a detailed, page-by-page breakdown of every dollar changing hands — at least three business days before closing. Read it carefully and compare it to the Loan Estimate you received when you first applied for your loan.
A few things to look for on the Closing Disclosure:
Prorated property taxes. Texas collects property taxes in arrears, meaning the seller owes you for the portion of the current tax year that accrued while they owned the home. This shows up as a credit to you on the settlement statement. Texas has no transfer tax — one of the few buyer-friendly quirks of this state.
Survey and title fees. Owner's title insurance in Texas is paid by the seller as a convention (though it's negotiable). The buyer pays for the lender's policy, typically around $100–$200 when issued simultaneously.
Any changes from your original Loan Estimate. Most fees should be within tolerance — flag anything that looks materially different.
Do your final walkthrough 24–48 hours before closing. This isn't an inspection — it's a confirmation that the home is in the same condition as when you made your offer, that agreed-upon repairs were completed, and that nothing unexpected has happened (burst pipes, storm damage, or fixtures that were supposed to stay but disappeared).
Step 6: Closing Day — and When You Actually Get the Keys
In Texas, closing typically takes place at the title company. You’ll sign a significant stack of documents, including the deed of trust, promissory note, Closing Disclosure, and several Texas-specific forms. Bring a government-issued ID, and before closing, confirm with the title company the best and safest way to transfer any remaining funds due—whether by cashier’s check or wire transfer—so everything is received and verified in time for closing.
One important nuance: in Texas, you may not receive your keys the same day you sign.
You receive the keys when the transaction "funds" — meaning when your lender's wire is received and the county records the deed. In most Austin closings, funding happens the same day as signing. But if you close late in the afternoon, or if the lender's wire cutoff is earlier than expected, funding may slip to the next business day.
Your agent should set clear expectations on this timeline before closing day — don't book the moving truck for 2 PM if there's a chance keys won't arrive until the following morning.
The Full Timeline at a Glance
Most Texas purchases run 30–45 days from accepted offer to closing:
Days 1–3: Earnest money delivered to title company; option fee delivered to seller; title company opens escrow and orders title work
Days 1–7/10: Option period — inspection, review, negotiate or terminate by 5 PM on final day
Days 3–14: Survey ordered and completed
Days 1–30: Lender underwriting, appraisal, and financing process
Days 27–30: Closing Disclosure review (required 3 business days prior), final walkthrough
Day 30–45: Closing — sign documents, fund, record deed, receive keys
Frequently Asked Questions
What happens to my earnest money if I terminate during the option period in Texas?
If you terminate during the option period, you receive your full earnest money back — the title company refunds it to you. The only money you forfeit is the option fee paid to the seller. Outside the option period, terminating without a valid contractual reason (financing denial, title defect, or seller default) puts your earnest money at risk of dispute.
How long is a typical option period in Austin TX?
In Austin's 2026 market, option periods typically run 7–10 days. In more competitive conditions, buyers sometimes negotiate shorter periods to strengthen their offer. Option period days are calendar days — not business days — and the termination deadline is 5:00 PM local time on the final day.
Do Texas buyers need a survey at closing?
Yes, most Texas residential closings require a survey as part of the title insurance process. If the seller has a recent survey on file, it can often be reused. If not, expect $500–$1,500 and a 7–14-day turnaround (sometimes longer). Order it as early as possible to avoid closing delays.
What is the difference between closing and funding in Texas?
Closing is the day you sign your documents at the title company. Funding is when your lender's wire is received and the deed is recorded with the county. You receive your keys at funding, not at signing. In most Austin closings these happen the same day — but not always, especially for afternoon signings.
What if the appraisal comes in below my offer price in Texas?
You and the seller must negotiate. Options include the seller reducing the price to the appraised value, the buyer paying the gap in cash, or splitting the difference. If no agreement is reached, the financing contingency in a standard Texas contract typically allows the buyer to terminate and recover their earnest money.
Navigating the 30 to 45 days between accepted offer and keys in hand is manageable — but it's also the part of the transaction where the most can go wrong if deadlines are missed or decisions are made without the right context.
If you're thinking about makin an offer, schedule a 15-minute strategy call with Carmen Reese at the CLR Sales Group. Schedule Here.
About Carmen Reese Carmen Reese is an Austin-based residential real estate advisor and team lead of The CLR Sales Group, serving clients across the Austin metro. Known for her education-first approach and strong negotiation strategies, she helps buyers and sellers navigate complex decisions with clarity and confidence. Her business is built on referrals and long-term relationships, reflecting a commitment to high-touch service and results that align with her clients' goals.
