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Under contract · 2 steps · free · the same words a Keighbor seller reads
Why this page existsThe buyer's loan is the piece of your sale you control least and worry about most.
Key takeaways
The underwriter has approved the loan, subject to final conditions.
The lender confirms every condition is cleared.
1
Support the underwriting process
You're done when: The underwriter has approved the loan, subject to final conditions.
Underwriting is where the buyer's lender verifies everything and preps the loan for closing. You do not drive it, but it gates your closing date, so tracking it matters.
How to do it
Ask for a weekly status update through the buyer or the closing agent. A friendly "anything I can help with?" is usually welcome.
Respond quickly to any lender request that involves the property.
Watch the financing-contingency deadline on your calendar. That is when the buyer's financing exit expires.
Keep repair receipts and permits ready in case underwriting asks for proof.
Stay reachable. A missed call here adds days.
Worth knowing
Underwriting usually takes two to three weeks, a little longer on FHA, VA, and USDA loans.
Property conditions - safety issues, appraisal repairs - sometimes emerge at this stage rather than earlier.
The financing contingency expiring is a real change in your position. Know the date.
What it costs
Free
Where to check
The closing agent, who sees the lender's status directly
2
Clear the final loan conditions
You're done when: The lender confirms every condition is cleared.
Underwriters usually approve with conditions - final items the buyer and lender have to deliver. Some of those conditions land on you, particularly repairs, well and septic tests, and HOA documents.
How to do it
Ask the closing agent which conditions face you rather than the buyer.
Provide the documentation promptly: permits, warranties, receipts, HOA documents.
Complete and document any required repairs.
Confirm with the closing agent when every condition is satisfied.
Keep proof of each cleared condition in the room.
Worth knowing
VA and USDA loans commonly require well-water tests, which are practically the seller's job even though it is the buyer's loan.
FHA appraisals can require specific fixes. Those are covered in the appraisal milestone.
"Approved with conditions" is normal and is not a warning sign.
What it costs
Varies. Well-water test $50-200
Where to check
The lender's written confirmation that conditions are cleared
There are 17 more like this one
Every step of a home sale has a guide this long behind it. Your room opens them one at a time as you reach them, and whatever you work out gets saved into the step.
