Step 16 to Selling Your Home: Congratulations—We Have an Accepted Offer!

We’re so happy for you! 🎉 Once we’ve verbally accepted an offer, both parties will sign the contract. From there, the process officially moves into the attorney review (in NJ only not PA) and inspection period.

What Happens Right After Acceptance

1. Executed Contract Sent to Attorney

   • As soon as the offer is signed, we’ll send a copy to your attorney (if you've decided to retain an attorney).

   • The attorney review and inspection period typically begins the next business day and lasts 3 business days for attorney review and then 10-14 calendar days from attorney review (in NJ) or from the full execution of the contract (in PA) (check your contract for the exact timeframe).

2. Earnest Money Deposit

   • Within 3-5 days of contract signing, the buyer must provide their first earnest money deposit.

   • This is a good faith payment, showing the buyer is committed to moving forward.

   • It’s usually delivered as a certified check to our office or wired directly to us (Quarterman Realty Group Inc (in PA) or buyer's title company (in NJ).

   • The deposit is held in escrow as a neutral safeguard and later credited toward the buyer’s down payment at closing.

   • You’ll receive a receipt for your records once funds are received.

3. MLS Status Update

   • Once we are out of attorney review (in NJ) or have a fully executed contract (in PA), we update your property in the MLS to Active Under Contract.

   • Most often, the Buyer will request all upcoming showings and open houses be cancelled.

Why Earnest Money Matters

The earnest money deposit isn’t just symbolic—it’s protection for you as the seller. If the buyer backs out without a valid reason allowed by the contract, the deposit may be forfeited. This ensures only serious buyers stay under contract.

Bottom Line

An accepted offer is a huge milestone in your selling journey. With earnest money in place and attorney review underway, you’re on track toward closing day. We’ll guide you step by step to make sure the process stays smooth.

💡 Ready to sell your South Jersey or Pennsylvania home with confidence?
Kathleen Quarterman, Quarterman Realty Group is here to support you from accepted offer through closing. Call 609-948-4306 or email info (@) quartermangroup.com today.


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