What Happens Between Contract and Closing in Palm Beach County?

Signing the contract feels like the finish line. It is really the starting gun.

I have been helping buyers and sellers in Palm Beach County since 1989, and the weeks after a signed contract are where I see deals either run smoothly or get tense. The difference is almost always preparation. Here is how those weeks work.

The First Week: Deposits, Deadlines, and Inspections

Right after the contract is signed, the earnest money deposit goes to the escrow agent, usually the title company or attorney. The contract sets the amount and the deadline. Miss it and you can put the contract at risk.

Next comes the inspection period. In Florida, the buyer has a set number of days, spelled out in the contract, to inspect the home and decide whether to move forward. That window is typically 7 to 10 days, so the clock starts fast and your contract controls the exact date.

A smart buyer schedules the comprehensive home inspection right away. A comprehensive inspection includes the roof, which a general inspection does not. Depending on the home, add a wind mitigation inspection, a 4-point inspection, a termite inspection, or a pool inspection. Insurance companies in Palm Beach County often ask for the wind mitigation and 4-point reports, so they do double duty.

Once the reports arrive, the buyer has three choices: accept the home as is, ask the seller for repairs or a credit, or cancel within the inspection period. Sellers, this is where a well-prepared home pays off. If you want to know which updates help and which ones don't, read my post on home updates that hurt resale value.

If the home is a condo or sits in an HOA, the buyer also receives the governing documents. Review them during this window. Fees, rules, special assessments, and rental or pet restrictions all matter, and the inspection period is when you still hold the most negotiating power.

Weeks Two Through Four: Appraisal, Title, and Insurance

If the buyer is financing, the lender orders an appraisal. The appraiser confirms the home is worth at least the contract price. When the appraisal comes in low, the buyer and seller negotiate: the price can come down, the buyer can bring more cash, or the parties can split the gap. Your agent earns their keep here.

At the same time, the title company searches the property's records for liens, unpaid taxes, open permits, and ownership questions. A clean title search is what lets ownership transfer. If something turns up, the title company works with the seller to clear it before closing.

Buyers should secure homeowners insurance early, and flood coverage where it applies. Get quotes during the inspection period, because the cost of insurance belongs in your monthly budget before you commit. Your lender will require proof of coverage before closing.

The lender also finishes underwriting during this stretch and may ask for more documents. Respond quickly. A request left sitting for two days can push a closing date back.

Condo and HOA purchases often include an estoppel certificate and, in some communities, an association approval process. Ask your agent early how long that takes in your specific community, because it can set the pace for the whole closing.

The Last Week: Walk-Through, Closing Disclosure, and Funds

On a financed purchase, the lender issues a Closing Disclosure that lays out your final loan terms and cash to close. Federal rules give the buyer at least three business days to review it before closing. Read every line and compare it to your original estimate.

Before closing, the buyer does a final walk-through. The purpose is to verify the home is as you expected and that every item in the contract, such as the appliances, is still in the property. Confirm any negotiated repairs were completed, turn on faucets, run the air conditioning, and test the appliances.

Buyers then wire or deliver closing funds to the title company. Always confirm wiring instructions by calling the title company at a number you already know. Wire fraud is real, and a phone call takes two minutes.

On closing day, documents are signed and funds are disbursed. Keys are exchanged once funding is complete.

Sellers have their own list: final utility readings, removing personal items, leaving garage remotes and keys, and a clean, empty home for the walk-through. Between contract and closing, avoid big financial moves. Here is exactly what to avoid in what not to do before closing.

If you are selling one home and buying another, timing matters even more. I wrote about how to line those two closings up in selling and buying at the same time in Palm Beach County.

Frequently Asked Questions

How long does it take to close on a house in Palm Beach County?

Most financed purchases close in about 30 to 45 days from the signed contract. Cash purchases can close faster. Your contract sets the closing date, and delays usually come from appraisal, underwriting, insurance, or title issues.

Can a buyer back out after signing a contract in Florida?

A buyer can usually cancel during the inspection period written into the contract, which is typically 7 to 10 days, and receive the earnest money deposit back. After that window, backing out without a contract reason can put the deposit at risk, so read your deadlines carefully.

What happens if the appraisal comes in low?

The buyer and seller negotiate. Common outcomes are a lower price, the buyer covering the gap in cash, or the two sides splitting the difference. Your agent can guide the conversation using comparable sales.

What should I do during the final walk-through?

Verify the home is as you expected and that everything included in the contract, such as appliances, is still there. Check that negotiated repairs are complete, run the air conditioning, test appliances and faucets, and flag anything wrong before you sign at closing.

Thinking about buying in Palm Beach County? Book a time with me before you go under contract, and my team will handle the details to keep you on track from contract to closing. Call or text Lisa Treu at 561-352-3056.

About Lisa Treu
Lisa Treu is the CEO of Treu Group Real Estate and has been helping buyers and sellers in Palm Beach County since 1989, with a focus on Jupiter, Palm Beach Gardens, and Delray Beach. She specializes in luxury homes, waterfront properties, new construction, and residential resale, and her team has earned 107 Google reviews, 265 Zillow team reviews, 79 Realtor.com reviews, and 21 Yelp reviews.