Getting an offer accepted feels like a finish line. In practice, it is the start of the contract-to-closing phase.

1. The contract timeline starts

Your signed contract controls deadlines for deposits, financing, inspections, document delivery, and other obligations. Put those dates somewhere you will actually see them.

2. Your lender moves from preapproval to the property

The lender will typically need the contract, updated financial documents, and information about the property. Respond quickly and avoid new debt or major account changes unless you have discussed them with the lender.

3. Inspections happen if your contract provides for them

The purpose is to understand the property and act within the rights and deadlines in your agreement. Inspection findings do not automatically mean the seller must fix everything.

4. The appraisal supports the lender’s process

An appraisal is different from an inspection. It is primarily part of the lender’s collateral evaluation.

5. Title, insurance, and closing coordination move in parallel

Your settlement or title team, lender, agent, and insurance provider each have tasks. Most closing problems are easier to solve when questions are raised early.

6. Review final figures and complete the walkthrough

Before settlement, confirm how funds must be delivered and review the figures supplied by the appropriate closing and lending professionals. The final walkthrough is an opportunity to see the property again shortly before closing.

Have an accepted offer and want to know what your specific contract requires? Talk with David.

A home inspection is most useful when you treat it as information for a decision, not as a pass/fail test.

What an inspection can do

A qualified inspector can help identify visible conditions, maintenance issues, safety concerns, and items that may deserve additional specialist evaluation. The exact scope depends on the inspector and services ordered.

What it cannot do

An inspection is not a guarantee against future problems and usually cannot see through finished walls or predict every failure. Read the inspector’s agreement and report carefully.

Pay attention to systems and patterns

Roofing, drainage, structure, electrical, plumbing, heating and cooling, moisture, and prior renovations can be more important than cosmetic defects. Patterns of deferred maintenance may also help you understand future ownership costs.

Your contract controls your options

Inspection rights, deadlines, notices, and negotiation options come from the agreement you signed. Ask questions before the deadline rather than assuming a general rule applies.

Specialist evaluations may make sense

Depending on the property and findings, buyers may consider specialists for items such as structural concerns, chimneys, sewer lines, environmental issues, roofs, or other systems. Your needs depend on the specific home.

Read the full first-time buyer guide →

There is no single cash number that fits every Maryland buyer. The useful question is: which cash needs apply to your loan, property, contract, and timing?

Down payment

Your down payment depends on the loan program and your financing strategy. A larger down payment can change the payment and loan structure, but it is not automatically the best use of every dollar.

Deposit or earnest money

A purchase contract may require a deposit. The amount, timing, and treatment of that money are contract-specific.

Closing costs and prepaid items

Buyers can encounter lender charges, title and settlement costs, taxes or recording charges, insurance, prepaid interest, and initial escrow funding. Ask your lender and settlement provider for transaction-specific estimates.

Inspection and due-diligence costs

Budget separately for inspections and any specialist evaluations you choose or need.

Reserves after closing

Using every available dollar to get through settlement can leave a new owner vulnerable to the first repair, move, utility setup, or unexpected expense.

Assistance programs

Maryland and local homebuyer programs may reduce certain upfront barriers for eligible borrowers, but rules, funding, and repayment terms can change. Verify current details with the program administrator and lender.

Talk through a practical buying budget →

“Closing costs” is a catch-all phrase. Your final amount comes from several categories, and the exact numbers depend on the property, loan, timing, contract, and service providers.

Lender-related costs

Your lender may charge fees associated with the mortgage process. Review the lender’s official disclosures rather than relying on a generic percentage.

Title and settlement

Title work, settlement services, and title insurance choices can contribute to the amount due at closing. Ask the settlement provider to explain each line item you do not understand.

Government and transaction charges

Taxes, recordation or transfer-related charges may apply depending on the transaction and allocation in the contract. These are items to verify for the specific property and agreement.

Prepaids and escrow funding

Some cash due at closing is not a “fee” in the ordinary sense. It may fund insurance, prepaid interest, taxes, or lender escrow requirements.

Credits and negotiated allocations

Depending on the transaction and financing rules, a contract may include credits or negotiated cost allocations. Your lender and agent can explain the limits and tradeoffs for the specific offer.

The safest planning method is to review current estimates from the professionals actually handling your loan and settlement.

Get the free Maryland Home Buying Guide →