Gerardo Lopez | RE/MAX Properties
Getting your offer accepted is a milestone, but it is not the finish line. Between acceptance and closing, there are roughly 30 to 45 days of due diligence, financing, and paperwork that determine whether the deal actually closes. Here is what to expect at each stage and where deals most commonly fall apart.
Earnest Money Deposit
In Utah, the earnest money deposit is typically 1 to 3 percent of the purchase price. The amount and deadline are specified in the Real Estate Purchase Contract (REPC). Most contracts require the deposit within a few business days of mutual acceptance.
The deposit goes to the title company and is held in escrow. It is credited toward your closing costs or down payment at closing. If you back out without cause after contingencies expire, the seller may be entitled to keep it. If you cancel within your due diligence period or a contingency is not met, you get it back.
What matters here: Have your funds liquid and ready to wire. Delays on earnest money signal to the seller that the rest of the transaction may not go smoothly either.
The Due Diligence Period
Utah's REPC includes a due diligence deadline, usually 14 to 18 days from acceptance. This is your window to complete inspections, review HOA documents, verify property conditions, and raise any concerns. If something comes up that you cannot accept, you can cancel the contract and get your earnest money back, as long as you act before the deadline.
This is the most critical window in the entire transaction. Once it passes, your leverage to negotiate repairs or walk away with your deposit drops significantly.
Home Inspection
Schedule your home inspection within the first week of due diligence. A qualified inspector will evaluate the roof, foundation, electrical, plumbing, HVAC, water heater, and overall structural condition. In Southern Utah, also expect them to look at stucco condition, water intrusion risks, and any signs of settling common in our soil types.
The inspection report is not a wish list. Focus on safety issues, structural concerns, and anything that would cost more than a few hundred dollars to address. Cosmetic items are not worth negotiating over and can weaken your position.
Common findings in Cedar City and Southern Utah: aging swamp coolers, older electrical panels, minor foundation settling in expansive soils, and water heater age. Most of these are manageable, but they need to be identified and priced before you commit.
Appraisal
If you are financing, your lender will order an appraisal to confirm the property market value supports the loan amount. The appraiser is an independent third party. They will compare recent comparable sales, assess the property condition, and assign a value.
If the appraisal comes in at or above your purchase price, the process continues. If it comes in low, you have a few options: renegotiate the price with the seller, bring additional cash to cover the gap, challenge the appraisal with better comps, or walk away if you have an appraisal contingency in place.
In a competitive market, some buyers waive appraisal contingencies or offer to cover a gap. That is a calculated risk. Know your ceiling before you make that decision.
Title Work
The title company will research the property ownership history and check for liens, easements, encumbrances, or boundary disputes. A clean title means you are getting clear ownership. Title insurance protects you if something surfaces later that was missed.
Title issues are uncommon but not rare. Unreleased liens from prior owners, incorrect legal descriptions, or old mechanic liens from contractors can all create delays. These typically get resolved before closing, but they can push timelines.
Loan Underwriting
While inspections and title work are happening, your loan is moving through underwriting. The underwriter verifies your income, employment, assets, credit, and debt-to-income ratio. They may request additional documentation, sometimes more than once.
Do not change jobs, open new credit accounts, make large purchases, or move money between accounts in unusual ways during this period. Any of those can trigger re-verification and delay or kill your loan approval.
You will receive a Closing Disclosure at least three business days before closing. Review it carefully. Compare the numbers to your original Loan Estimate and flag anything that does not match.
Final Walkthrough
Within 24 to 48 hours before closing, you will do a final walkthrough of the property. The purpose is simple: confirm the property is in the same condition as when you went under contract, agreed-upon repairs have been completed, and the seller has moved out.
This is not a second inspection. It is a verification that nothing changed between your inspection and closing day.
Closing Day
Closing happens at the title company. You will sign the loan documents, the deed transfers, and your funds are wired. Plan for about an hour of signing. Bring a valid government-issued ID.
In Utah, the deed is recorded with the county the same day or the next business day. Once recorded, the property is legally yours and you will receive the keys.
Timeline Summary
Days 1 to 3: Deliver earnest money, schedule inspection.
Days 3 to 10: Complete inspections, negotiate repairs if needed.
Days 10 to 18: Due diligence deadline passes, appraisal ordered and completed.
Days 18 to 35: Loan underwriting, title work, Closing Disclosure issued.
Days 35 to 45: Final walkthrough and closing.
Every transaction is different, and timelines can shift based on lender speed, inspection findings, or title complications. The best thing you can do is respond quickly to document requests, keep your finances stable, and stay in close contact with your agent.
If you are buying in Cedar City or anywhere in Southern Utah and want an agent who has been through this process hundreds of times, reach out here or call 435-708-1937.
Thinking About Making an Offer?
Before you write that offer, make sure you have done the homework. Read the 7 things to check before you make an offer.
Contact Gerardo Lopez | RE/MAX Properties | 435-708-1937
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