What happens after you go under contract

Between a signed contract and a set of keys, four processes run at once: disclosure, appraisal, title and underwriting. When a lender runs them in sequence instead of in parallel, that is where the extra two weeks comes from.

Week one: disclosures and orders

Within three business days of application you receive a Loan Estimate — a standardized three-page disclosure of your rate, payment and closing costs. Sign the initial disclosure package promptly; the appraisal cannot be ordered until you have given intent to proceed. Title work opens at the same time.

This is also the week to lock your rate, in most cases, since the lock has an expiry and extensions cost money.

Weeks one to three: due diligence

In North Carolina this is the negotiated window during which you can inspect, appraise and terminate for any reason, forfeiting only the due diligence fee. Get the inspection done early enough to negotiate repairs, and make sure the window is long enough for the appraisal to come back — an appraisal that lands after due diligence expires removes your leverage entirely.

The appraisal

An independent appraiser gives an opinion of value. If it comes in at or above the contract price, nothing happens and you may never think about it again. If it comes in low, the lender lends against the lower number, and the gap is covered with cash, renegotiated with the seller, or challenged with a reconsideration of value where there is genuinely better comparable data.

On FHA and VA loans the appraiser also checks minimum property condition requirements, which can generate required repairs. That is a property issue rather than a reflection on you as a borrower.

Underwriting, and conditions

An underwriter verifies that you and the property match program guidelines: income calculated correctly, assets sourced, credit explained, appraisal supporting value, title clean. The outcome is an approval with conditions.

Title and the attorney

In North and South Carolina a closing attorney examines the title history, resolves any liens or errors, and prepares the settlement statement. Unresolved items — an old lien, an heir who never signed, an easement nobody documented — are the classic source of a last-minute delay, which is why title should open in week one and not week three.

Clear to close

Every condition has been satisfied and the file is ready for a closing appointment. Your Closing Disclosure must be delivered at least three business days before you sign. Read it against your original Loan Estimate line by line — that comparison is the single most useful thing a borrower can do, and it is precisely why the three-day rule exists.

Where the delays actually come from

• Documents returned slowly, which is the number one cause and the one entirely in your control.
• Appraisal scheduling in a busy market, or a rural property with few comparables.
• Title surprises on older properties and inherited ones.
• A borrower-side credit or employment change mid-process.
• Insurance not bound in time, which stalls the final figures.