Your Offer Is Accepted. Now What? A Seller's Guide From Signed Contract to Closing in Mid-Michigan

Accepting an offer on your home is a great feeling. But signing the purchase agreement isn't the finish line. It's the start of the stretch where most of the real work happens. Between now and closing, there are deadlines to meet, paperwork to gather, and a few Michigan-specific details that can catch sellers off guard.

Whether you're selling in Fenton, Grand Blanc, Flint, Davison, Flushing, Linden, Holly, Swartz Creek, or anywhere else in Genesee County and the surrounding areas, here's what to expect from accepted offer to closing day, and what you can do to keep things moving.

Step 1: Know Your Contract Deadlines

Your purchase agreement sets the calendar. It typically spells out when the buyer's earnest money is due, how long the buyer has for inspections, the financing and appraisal terms, and your target closing date. Every contract is different, so I'll put the key dates in front of you right away and keep track of them for you. Missing a deadline can give the other side options you didn't plan on, so this part matters.

Step 2: The Buyer's Inspection

Most buyers schedule a home inspection soon after the offer is accepted. You'll usually be asked to leave during the inspection, and you'll want utilities on and access clear to the furnace, water heater, electrical panel, attic, and crawl space.

After the inspection, the buyer may ask for repairs, a credit, or a price change. I covered how to handle those requests calmly and strategically in my post on inspection repair requests.

Step 3: The Appraisal

If your buyer is financing, their lender will usually order an appraisal to confirm the home's value supports the loan. If it comes in below the contract price, there are options, including renegotiating, the buyer covering a gap, or meeting in the middle. I walked through appraisals and pricing in pricing your home to sell and appraisal gaps in comparing offers.

Step 4: Title Work

A title company will search the public records for your property and issue a title commitment. This is where things like an old mortgage that was never formally discharged, a lien, or a question about ownership can show up. The sooner an issue is spotted, the more time there is to fix it, so if you know of anything unusual, like a past divorce, an estate, a home equity line, or a name change, tell me early.

Step 5: Request Your Mortgage Payoff

If you have a mortgage or home equity line, it gets paid off from your sale proceeds at closing. The title company usually requests the payoff statement for you, but it helps to have your loan numbers ready. Under federal rules, your servicer must send an accurate payoff statement within a reasonable time, and no more than seven business days after receiving a written request, with limited exceptions (CFPB: Regulation Z, 12 CFR 1026.36(c)(3)).

Keep making your regular mortgage payments until closing. If you have an escrow account, the CFPB notes that your servicer should refund any remaining escrow money within 20 days of the loan being paid in full (CFPB: Your mortgage servicer must comply with federal rules).

Step 6: Understand Michigan Property Tax Prorations

Michigan homeowners usually get two property tax bills a year, summer and winter. At closing, those taxes are split between you and the buyer. Unless your contract says otherwise, Michigan law makes the seller responsible for the portion of the annual taxes from the levy date up to, but not including, the day title passes, and the buyer pays the rest (MCL 211.2(4)). Many Michigan purchase agreements spell out their own proration method, so we'll look at what yours says.

This is why you may see a tax credit or charge on your settlement statement even if you already paid your summer bill. It's normal, and I'll walk you through the numbers before closing.

You'll also see state and county transfer taxes on your side of the statement. I explained those, and a refund many sellers miss, in my post on Michigan transfer taxes for sellers.

Step 7: Rescind Your Principal Residence Exemption

This one is easy to forget. If you claimed a Principal Residence Exemption (PRE) on the home you're selling, Michigan Treasury says you must file a Request to Rescind PRE (Form 2602) within 90 days of the property no longer being your principal residence. Not filing can mean a $5 daily penalty, up to $200 (Michigan Treasury: PRE Claim Requirement). The form goes to your local city or township assessor, not to Treasury (Form 2602).

Step 8: Plan Your Move and Utilities

As closing gets closer, a few practical steps help everything go smoothly:

• Book movers early, especially near the end of the month and in winter, when Mid-Michigan weather can slow things down.
• Schedule final utility readings for your closing or possession date, and ask your water provider how they handle final bills. Policies vary from city to city and township to township.
• Keep your homeowners insurance in place until the sale closes and you've handed over possession. Ask your insurance agent about the right cancellation date.
• Gather keys, garage door openers, mailbox keys, and manuals or warranties for appliances and systems the buyer will inherit.
• Leave included items in place. If the contract says the curtains, refrigerator, or shed stay, they stay.

Step 9: The Final Walk-Through

Shortly before closing, the buyer usually does a final walk-through to confirm the home is in the condition agreed to, any agreed repairs were done, and included items are still there. Leave the home clean, empty (unless you're staying under an agreed occupancy or rent-back), and with utilities on. Keep receipts for any repairs you made so we can share them.

Step 10: Closing Day, and Protecting Your Proceeds

At closing, you'll sign the deed and other documents, usually at the title company. Bring a valid photo ID. Your mortgage gets paid off, closing costs come out, and the rest is your net proceeds.

Before closing, decide with the title company how you'll receive your money. If you're getting a wire, be careful. Scammers target real estate closings by sending fake emails with changed instructions. The CFPB recommends confirming any instructions by phone with a trusted contact using a number you already have, never one from an email, and never sending financial information by email (CFPB: Mortgage closing scams). If something seems wrong, contact your bank right away and report it to the FBI's Internet Crime Complaint Center at ic3.gov (NAR: Protect Against Wire Fraud).

After Closing: A Few Loose Ends

• Keep your closing statement with your tax records. It matters if you ever need to figure your gain, which I covered in my post on the home sale capital gains exclusion.
• Watch for your escrow refund if you had one.
• File your PRE rescission with your assessor if you haven't already.
• Update your address with your bank, the post office, and anyone who sends you bills.

This post is general information, not legal or tax advice. A real estate attorney, your title company, and your tax professional can speak to your specific situation.

Thinking About Selling? I'll Be With You Every Step

From the first pricing conversation to handing over the keys, I keep track of the deadlines, coordinate with the buyer's agent, lender, and title company, and make sure nothing slips through the cracks. If you're thinking about selling anywhere in Genesee County or nearby Lapeer, Livingston, or Oakland counties, call or text me at (810) 962-4908 for a free, no-obligation consultation.