Under Contract in Prosper or Celina: What Happens Next
You accepted an offer on your Prosper or Celina home — now what? The period between “under contract” and closing day involves several distinct stages, each with its own deadlines and paperwork. Here’s what to expect at every step, and what sellers most often get wrong along the way.
The Texas Contract Timeline, Stage by Stage
The Option Period
In Texas, buyers typically negotiate a short option period (often 7–10 days) that gives them the unrestricted right to terminate the contract for any reason, in exchange for a small option fee paid directly to the seller. This is when the buyer’s inspection happens. Expect a list of repair requests or a renegotiation ask once the inspector’s report comes back — this is normal, not a sign the deal is falling apart.
Earnest Money and the Title Company
Alongside the option fee, the buyer deposits earnest money (typically 1–2% of the sale price) with a title company, which acts as the neutral third party handling funds, the title search, and eventually the closing paperwork. Texas is a title-company state, so this entity plays a central coordinating role throughout the transaction.
The Appraisal
If the buyer is financing the purchase, their lender orders an appraisal to confirm the home supports the loan amount. An appraisal that comes in below the contract price can trigger a second round of negotiation — the buyer may ask the seller to reduce the price, cover the gap in cash, or a mix of both.
Lender Underwriting
While inspections and appraisal are wrapping up, the buyer’s loan moves through underwriting, where the lender verifies income, assets, credit, and the property itself before issuing final loan approval (“clear to close”). This stage is largely out of the seller’s hands, but delays here are one of the most common reasons a closing date slips.
Final Walkthrough and Closing Prep
Typically 24–48 hours before closing, the buyer does a final walkthrough to confirm the home’s condition matches what was agreed to and that any negotiated repairs were completed. Sellers should have utilities on, the home broom-clean, and all agreed-upon items (or exclusions) squared away before this visit.
The Closing Table and When You Get Paid
On closing day, both parties sign final paperwork, the buyer’s funds are disbursed through the title company, and the deed is recorded. Sellers typically receive proceeds via wire transfer or check within one business day of closing, once the county records the transaction.
Typical Texas Seller Timeline: Offer Acceptance to Closing
| Stage | Typical Timing | Seller Action Needed |
|---|---|---|
| Offer accepted / contract executed | Day 0 | Sign contract, deliver keys/access info |
| Option period & inspection | Days 1–10 | Respond to repair requests |
| Earnest money deposited | Days 1–3 | Confirm receipt with title company |
| Appraisal ordered & completed | Days 10–21 | Provide access; address low-appraisal issues if needed |
| Lender underwriting | Days 14–28 | Minimal — stay responsive to title company requests |
| Clear to close | Days 25–30 | Schedule movers, confirm closing date/time |
| Final walkthrough | 1–2 days before closing | Ensure repairs complete, home broom-clean |
| Closing & funding | Days 30–45 (typical) | Sign closing documents, hand over keys |
What Sellers Get Wrong About This Stage
- Assuming “under contract” means the sale is guaranteed — option periods and financing contingencies mean deals can still fall through.
- Making major purchases, changing jobs, or opening new credit that could affect their own next purchase before funds have actually been received.
- Not budgeting time for repair negotiations after the inspection, which can add days or weeks if not handled promptly.
- Letting utilities lapse before the final walkthrough, which can delay or complicate that inspection.
- Assuming the closing date in the contract is fixed — financing and appraisal timelines often push it by several days.
Frequently Asked Questions
How long does it take to close after going under contract in Texas?
Most financed transactions in Prosper and Celina close within 30–45 days of contract execution; cash sales can close in as little as 1–2 weeks.
Can a buyer still back out after the option period ends?
Yes, but only under specific contract contingencies (such as financing or appraisal) rather than for any reason, and typically with consequences for their earnest money.
When do I actually receive my sale proceeds?
Funds are typically wired or disbursed by check within one business day after the title company confirms the deed has been recorded with the county.
What happens if the appraisal comes in low?
The buyer and seller renegotiate — options include the seller lowering the price, the buyer covering the difference in cash, or a combination of both.
Do I need to be present at closing?
Not necessarily — many sellers sign in advance or remotely through the title company, especially if relocating out of the area.
About Ana Porto, REALTOR®
Ana Porto is a bilingual (English/Spanish) REALTOR® with Real Broker LLC, serving buyers and sellers throughout Prosper, Celina, McKinney, Frisco, Allen, and Fairview, TX. Whether you’re navigating your first contract-to-close timeline or your fifth, Ana provides clear, step-by-step guidance so you always know what’s coming next. Reach out at any point in your transaction for personalized support.
Equal Housing Opportunity. Ana Porto, TX License #0578764, Real Broker LLC. Ana Porto is a member of the National Association of REALTORS® and abides by its Code of Ethics; all real estate licensees in Texas are regulated by the Texas Real Estate Commission (TREC). This article is general information only, based on typical Texas transaction timelines, and is not legal, tax, or financial advice — consult the appropriate licensed professional for guidance specific to your situation. Broker compensation is fully negotiable and not set by law.
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