The US home-buying process, step by step
From pre-approval to closing: agent agreements, offers with contingencies, escrow, inspection, appraisal and what differs between states.
Applies to: United States. Reviewed 2026-09-25.
Key takeaways
- An accepted written offer (purchase agreement) is normally binding, but contingencies give you the right to withdraw.
- Since August 2024 buyers normally sign a written agreement with their agent before touring, and compensation is negotiated.
- The process differs between states: in some, attorneys handle the purchase; in others, an escrow or title company.
What the journey looks like
- Get a pre-approval from a lender.
- Sign an agreement with a buyer's agent, or buy without one.
- Make a written offer with price, earnest money and contingencies.
- Once accepted, the earnest money goes into an escrow account.
- Inspection, appraisal and title search within the contingency deadlines.
- Final loan approval and the Closing Disclosure at least three business days before closing.
- Final walk-through and closing: documents are signed, funds paid and the deed recorded with the county.
Since the 2024 National Association of Realtors settlement, buyers working with an agent from a participating association sign a written agreement before touring. The agreement sets the agent's compensation, which is negotiable.
Questions to ask
- Which contingencies should I include and with what deadlines?
- Who holds my earnest money and when could I lose it?
Red flags
- You are urged to waive inspection or appraisal contingencies to win.
- Last-minute wiring instructions by email (a common fraud).
Sources
- Buying a House: tools and resources for homebuyers (Consumer Financial Protection Bureau)
- Closing Disclosure explainer (Consumer Financial Protection Bureau)
- What the NAR settlement means for home buyers and sellers (National Association of REALTORS®)