From Pending to Closing-What Happens After You Go Under Contract

 What Happens After You Go Under Contract in Richmond VA?

If you're buying or selling a home in Richmond, Virginia, going under contract is a major step—but it’s not the finish line.

In reality, it’s the beginning of the most critical part of the transaction.

Understanding what happens next can help you avoid surprises and get to closing successfully.

What Does “Under Contract” Mean?

When a contract is ratified, both parties have agreed to the terms.

However, several steps still need to happen before closing, and each introduces potential challenges.

Key Steps After Going Under Contract

Home Inspection

Buyers evaluate the property and may request repairs or credits.

Appraisal

The lender determines the home’s value. If it comes in low, renegotiation may occur.

Financing Approval

Lenders verify financial details and finalize the loan.

Title Work

Ensures there are no legal issues with ownership before closing.

Why Deals Fall Apart

Even after going under contract, deals can fail due to:

  • inspection issues 

  • low appraisals 

  • financing problems 

  • miscommunication 

Why Transaction Coordinators Matter

Some agents use transaction coordinators to manage:

  • deadlines 

  • documentation 

  • communication 

At Two Dog Realty, we’ve worked with the same coordinator for over 18 years—helping ensure consistency and smooth closings.

The Role of Strong Agents

Experienced agents:

  • communicate clearly 

  • work collaboratively 

  • solve problems 

The goal isn’t to compete—it’s to get to closing.

Final Thoughts

Getting under contract is important.

But the real goal is getting to the closing table.

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