Getting your offer accepted is a great feeling, but it's the start of the contract-to-close process, not the end. In Tennessee, most residential sales use a standard purchase and sale agreement with deadlines for each step. On our team, Christina manages this stage for every client, tracking every deadline so you can focus on the move.
1. Earnest money
Soon after acceptance, you'll deliver your earnest money deposit by the date in your contract. It's usually held by the listing brokerage or a title company and applied toward your costs at closing.
2. Inspections
Your contract gives you a set inspection period. This is when you schedule a home inspection and any others the property calls for, such as termite, radon, septic, or a sewer scope. Missing this deadline can cost you important options, so schedule early.
3. Repair negotiations
After inspections, you can ask the seller to make repairs, give a credit, or lower the price. There's a set window to reach agreement. If you can't agree, your contract spells out what happens next.
4. Financing and appraisal
If you're getting a mortgage, your lender orders an appraisal and finishes underwriting. Respond to lender requests quickly. If the appraisal comes in below the price, your contract and loan type determine your options.
5. Title work and closing documents
The title company or closing attorney checks that the seller can transfer clear title, prepares closing documents, and sends you a Closing Disclosure showing your final numbers. Review it carefully, and be wary of any email asking you to wire money: always confirm wiring instructions by phone with a number you already know.
6. Final walk-through
Shortly before closing, you'll walk through the home to confirm it's in the condition you agreed to and that any negotiated repairs were made.
7. Closing day
You'll sign the documents, your funds are delivered, the deed is recorded, and you get the keys.
Common questions
How long does it take to close on a house in Knoxville?
It depends on your contract and your loan, but financed purchases commonly take about a month. Cash purchases can close faster.
Who keeps track of all the deadlines?
On our team, Christina does. She coordinates with the lender, title company, inspectors, and the other agent, and keeps you updated until closing.
Ready to start your search? Talk to our team.