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You did it — the seller said yes. That rush of relief is real, but here’s the part nobody tells you at the open house: what happens after your offer is accepted is where most of the actual work of buying a home gets done. In Minnesota, the stretch between “accepted” and “here are your keys” usually runs 30 to 45 days, and it’s packed with deadlines that can make or break the deal. This guide walks you through each step in order, with the Twin Cities-specific details that generic checklists skip.

A Quick Timeline: What Happens After Your Offer Is Accepted

Every purchase agreement sets its own dates, so treat this as a typical roadmap rather than a rulebook. Your agent and lender will give you the exact deadlines for your deal.

Typical Minnesota Timeline (30–45 Days)

Days 1–2: Deliver earnest money and finalize your mortgage application

Days 1–10: Home inspection, radon test, and repair negotiations

Weeks 2–4: Appraisal, loan underwriting, title work, and homeowners insurance

3+ days before closing: Review your Closing Disclosure

Closing week: Final walk-through, wire funds, sign, and get keys

After closing: File for homestead, change locks, set up utilities

Week One: Earnest Money, Inspections, and the Contingency Clock

Earnest money comes first. Most Minnesota purchase agreements require your earnest money deposit — commonly 1% to 2% of the price in the Twin Cities — within a couple of business days of final acceptance. It’s held in a trust account by the listing brokerage or title company and gets credited toward your down payment and closing costs at the end. Miss that deadline and you hand the seller an easy reason to walk.

Lock in your loan. If you were preapproved, your lender now needs the signed purchase agreement to open the full application. Expect a Loan Estimate within three business days, and talk with your lender about whether to lock your rate now or float it.

Schedule the inspection immediately. Inspection contingency windows in Minnesota often run 7 to 10 days, and good inspectors book up fast — especially in spring and early fall. Add a radon test while you’re at it; Minnesota has some of the highest radon levels in the country, and a 48-hour test can usually run alongside the inspection. If the home is in Minneapolis, Bloomington, Richfield, or another city with a point-of-sale requirement, ask your agent for the city inspection report, too. Once results are in, you’ll decide whether to accept the home as-is, ask for repairs or a credit, or cancel within your contingency period.

Weeks Two to Four: Appraisal, Underwriting, and Minnesota Title Work

The appraisal. Your lender orders an appraisal to confirm the home is worth what you’re paying. If it comes in low, you typically have three options: renegotiate the price, cover the gap with extra cash, or use your financing contingency to exit. In competitive pockets like Edina and South Minneapolis, it’s worth knowing ahead of time how much of a gap you could handle.

Underwriting — and why you should stay boring. This is when the lender verifies everything: income, assets, debts, and credit. The golden rule after your offer is accepted? Don’t change jobs, open new credit cards, finance a new truck, or buy a living room set on a store card. Even a small change to your debt-to-income ratio can delay or derail your approval. Answer your lender’s document requests the same day if you can.

Title work, Minnesota-style. The title company researches the property’s ownership history to make sure the seller can legally transfer it free of liens or claims. Minnesota is unusual here: properties are recorded either under the traditional abstract system or the Torrens system, and Hennepin and Ramsey counties have a large share of Torrens property. Your title company handles the difference, but it can affect timing and paperwork. You’ll also decide on an owner’s title insurance policy during this stage.

Homeowners insurance. Your lender will require proof of coverage before closing. With hail and wind claims pushing Minnesota premiums higher, shop for quotes early in this window — not the week before closing.

Closing Week in Minnesota: Walk-Through, Wires, and Signing

Review your Closing Disclosure. Federal rules require your lender to deliver your Closing Disclosure at least three business days before closing. Compare it line by line with your Loan Estimate. Expect Minnesota-specific items like the mortgage registration tax, which runs about 0.24% of your loan amount and is typically paid by the buyer.

Protect your wire. Wire fraud targeting homebuyers is real. Before sending your down payment, call your title company at a phone number you’ve verified independently — never one from an email — to confirm the wiring instructions.

Do the final walk-through. Usually within 24 hours of closing, you’ll confirm agreed-upon repairs were made, included items are still there, and nothing new has broken. For a fall or winter closing, run the furnace, check the water heater, and look at the ceilings for signs of leaks. It’s your last chance to raise an issue before you sign.

Sign and get your keys. Twin Cities closings usually happen at the title company’s office and take about an hour. Bring a government-issued photo ID. In most Minnesota transactions, possession transfers at closing, so you can often head straight to your new place.

After Closing: The Minnesota To-Do List Most Buyers Miss

The paperwork doesn’t quite end at the closing table. A few Minnesota-specific tasks can save you real money and headaches:

File for homestead. If the home is your primary residence, apply for homestead classification with your county. It can lower your property taxes, and the deadline is December 15 for the credit to start next year. Hennepin County’s homestead page explains the process; other counties work similarly. Closing this fall? Put it on your calendar now.
Change the locks and garage codes. You don’t know how many keys are floating around.
Transfer utilities. Set up electric and gas service (Xcel Energy or CenterPoint in much of the metro), plus water, trash, and internet.
Check your alarms. Minnesota law requires carbon monoxide alarms within 10 feet of sleeping rooms, so test every smoke and CO alarm on move-in day.
Keep your closing packet. Store your settlement statement and deed somewhere safe — you’ll want them at tax time and when you sell someday.

First-time buyer using down payment assistance? Minnesota Housing loan programs may have their own requirements to keep on track, so check in with your lender. You can find more step-by-step help on our buyers page and in our resource library.

Frequently Asked Questions

How long does it take to close after your offer is accepted in Minnesota?

Most financed purchases in the Twin Cities close in about 30 to 45 days. Cash deals can close in as little as one to two weeks, depending on how quickly title work and any inspections wrap up.

Can a seller back out after accepting an offer in Minnesota?

Once a purchase agreement is fully signed, it’s a binding contract. A seller generally can only cancel if a contingency in the agreement allows it — for example, if the deal depends on the seller finding their next home. Talk to your agent or a real estate attorney about your specific agreement.

Do I get my earnest money back if the deal falls through?

If you cancel within a valid contingency — like inspection or financing — and follow the agreement’s notice requirements, your earnest money is typically refunded. If you walk away without a contractual reason, you may forfeit it.

The Right Agent Makes the Next 30 Days Easier

Getting to “accepted” is a milestone, but the weeks that follow are where a great agent earns their keep — tracking every deadline, coordinating inspectors and lenders, and catching problems before they cost you. If you’re starting your search and want someone who knows Minnesota’s process inside and out, MinnMatch can help. We personally match you with a vetted local agent who fits your neighborhood, price range, and style — at no cost to you. Find your Twin Cities agent today.

By the time a Twin Cities buyer sits down to sign, the Minnesota purchase agreement has already done most of the heavy lifting — it’s the document that turns a verbal “we have a deal” into a legally binding contract. But it’s also dense, full of checkboxes and legal shorthand, and easy to skim past when you’re excited about a house. Understanding what you’re actually agreeing to, clause by clause, is one of the best ways to avoid surprises between your accepted offer and closing day. Here’s what’s actually in a standard Minnesota purchase agreement in 2026, and why each section matters more than it looks.

What Your Purchase Agreement Says About Price & Financing

The top of the agreement covers the basics — purchase price, the legal property description, and the closing date — but the earnest money section deserves more attention than most buyers give it. Earnest money is the deposit you put down to show you’re serious, typically held in a broker’s trust account until closing. The agreement spells out the amount, where it’s held, and — critically — the conditions under which you get it back if the deal falls apart. If a contingency in your favor isn’t met and you cancel properly, your earnest money should be returned. If you back out for a reason the contract doesn’t cover, you could forfeit it. This section also lays out your financing terms: loan type, down payment amount, and the interest rate range you’re qualifying for, which protects you if rates move before your loan is locked. If you’re using a first-time buyer program or down payment assistance, make sure those details match what’s on file with your lender — Minnesota Housing is a good source for verifying program specifics before you sign.

Contingencies: The Escape Hatches Every Buyer Needs

Contingencies are the conditions that must be satisfied for the sale to move forward, and they’re the part of a Minnesota purchase agreement that actually protects you as a buyer. The most common ones are the financing contingency (the deal is off if your loan isn’t approved), the inspection contingency (you can renegotiate or walk away based on what an inspector finds), and the appraisal contingency (protection if the home appraises for less than your offer price). Some agreements also include a sale contingency, which makes your purchase dependent on selling your current home first — useful, but it can make your offer less competitive in a fast-moving market. Each contingency comes with a deadline written directly into the agreement, so missing a date can mean losing the protection entirely, even if you intended to use it. If a term like “appraisal gap” or “escalation clause” shows up alongside your contingencies, Redfin’s glossary of real estate terms is a quick way to double-check what you’re agreeing to.

Seller Disclosures and What Minnesota Law Requires

Minnesota law requires sellers to complete a written disclosure statement in good faith before a purchase agreement is signed, covering known material defects — things like a leaky roof, past water intrusion, or an aging furnace. Sellers also have to disclose specifics around private wells and septic or sewage systems, which matters a lot in the suburban and lake communities around the Twin Cities where municipal sewer isn’t a given. If the home was built before 1978, federal law adds a lead-based paint disclosure requirement on top of the state rules. Read this document closely and cross-reference it against what your inspector finds — a mismatch between what was disclosed and what’s actually there can be grounds to renegotiate. You can review the state’s disclosure framework directly through the Minneapolis Area Realtors resource library if you want the fuller legal picture.

Closing Date, Possession & What’s Actually Included

It sounds simple, but confusion over the closing date and possession date causes real friction. Closing is when ownership legally transfers; possession is when you actually get the keys — and in Minnesota, those aren’t always the same day. Some sellers negotiate a short post-closing occupancy period to give themselves time to move out, which should be spelled out with a per-diem rent amount if it runs long. Just as important is the fixtures and personal property section, which lists exactly what stays with the home — appliances, window treatments, that wall-mounted TV bracket — and what the seller plans to take. If you fell in love with the light fixtures during a showing, don’t assume; get them written into the agreement.

Default Clauses: What Happens If Something Falls Apart

Near the bottom of most Minnesota purchase agreements sits the default and remedies section — the part nobody wants to think about but everyone should read. It outlines what happens if either side fails to follow through: whether the non-defaulting party can pursue specific performance (forcing the sale to close), seek damages, or simply cancel and keep or recover the earnest money. There’s often an arbitration or mediation clause here too, which can affect how a dispute gets resolved if one comes up. None of this is meant to scare you off — most Twin Cities transactions close without incident — but knowing what recourse exists on both sides gives you a clearer picture of what you’re actually signing.

A purchase agreement is negotiable up until both parties sign, and a good buyer’s agent will walk you through every clause before you’re staring at a deadline. That kind of hands-on guidance is exactly what MinnMatch is built around — if you’re preparing to make an offer and want an agent who’ll actually explain what you’re signing, find your match with MinnMatch and get paired with a vetted local agent for free. Curious how the matching process works first? Take a look at how MinnMatch works.

Buyer Guides, Seller Guides

What Happens After Your Offer Is Accepted in Minnesota? A Step-by-Step 2026 Guide