Michigan first-time buyer guide
What Happens After Your Offer Is Accepted?
A first-time buyer’s guide to the path from contract to keys.
Deliver the contract
Send the complete signed contract promptly. The lender uses price, credits, property and closing date to update disclosures and the file.
Inspection, title and insurance
Complete contractual due diligence, choose homeowners insurance and respond to title or documentation requests. These workstreams often happen at the same time.
Underwriting and appraisal
The underwriter evaluates borrower and property information. Conditional approval means listed items still need to be satisfied; it is not final approval.
Closing and ownership
Review the Closing Disclosure, confirm wire instructions through a trusted channel and bring approved identification. After signing, funding and recording requirements must be completed before the transaction is final.
Protect the file while the loan is reviewed
After acceptance, inspection, title work, appraisal and underwriting can overlap. Respond to document requests quickly and keep finances stable. Ask before opening credit, financing furniture, moving money between accounts or changing jobs. Compare the Closing Disclosure with the Loan Estimate and question unexplained changes before closing day.
Questions to ask before moving forward
- What total payment and cash-to-close assumptions are being used?
- Which requirement depends on the borrower, property or current program?
- What should be rechecked before an offer or final approval?
Run the transaction from one checklist
Track inspection deadlines, appraisal status, title items, insurance, requested documents, financing conditions and closing funds in one place. Confirm who owns each task and the next date. Keep bank statements and explanations organized. Fraud attempts often imitate closing instructions, so verify wiring details through a trusted known phone number before sending money.
Common questions
Can I finance furniture before closing?
New debt can change qualification. Ask the lender before opening credit or financing any purchase.
Why are updated documents requested?
Underwriting may need current proof that income, assets, debts and employment still meet requirements.
What should I compare before signing?
Compare the Closing Disclosure with the Loan Estimate and ask about material changes before closing day.
Official sources
Sources reviewed September 3, 2026.
Reviewed by Mike Alkema
Mike Alkema, NMLS #642953, is a licensed mortgage loan originator with Leeward Point Mortgage LLC, NMLS #1823590. He reviewed this guide for practical mortgage context and advertising clarity. Updated September 3, 2026. Program rules and availability can change; confirm current requirements for your household and property.
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