# What Happens After Offer Accepted in Tampa Bay?

> Offer accepted in Tampa Bay? Here's the exact timeline — inspections, title, appraisal, insurance, and closing — explained by a local FL agent.

**Canonical URL**: https://stpetehomeguide.com/questions/what-happens-after-offer-accepted-tampa-bay
**Author**: Luke Salm
**Published**: 2026-06-18
**Updated**: 2026-06-18
**Intent**: buyer
**Keywords**: what happens after offer accepted Tampa Bay, under contract process Florida, home buying timeline St. Petersburg, closing process Tampa Bay, home inspection Tampa Bay, earnest money Florida, closing costs Florida buyer, title search Florida


Once your offer is accepted on a Tampa Bay home, you enter the "under contract" phase — a 30 to 45-day window packed with inspections, financing steps, insurance decisions, and title work before keys change hands. Here's exactly what happens, in the order it happens, so you're not caught off guard at any stage.

## Step 1: Earnest Money Goes Into Escrow (Day 1–3)

Within one to three business days of an accepted contract in Florida, your earnest money deposit gets wired to an escrow account — typically held by the title company or a brokerage escrow account. In Tampa Bay, earnest money amounts typically run 1% to 2% of the purchase price for most transactions, with competitive offers sometimes going higher.

According to Stellar MLS transaction data, the median earnest money deposit on Pinellas County home sales in early 2026 is approximately $5,000 to $10,000 on median-priced homes in the $380,000–$430,000 range. The deposit is not lost if you cancel for a contractually valid reason — it's protected by Florida's inspection and financing contingencies while those periods are active.

For a deeper dive on how earnest money works in Florida, see [earnest money Florida explained](/questions/earnest-money-florida-explained).

## Step 2: The Inspection Period (Typically Days 1–15)

Florida's standard AS IS Residential Contract gives buyers an inspection period — usually 10 to 15 days — to investigate the property however they see fit. This is your due diligence window, and I'd encourage buyers to use every day of it.

Here's what a thorough Tampa Bay inspection process looks like:

- **General home inspection** — A licensed Florida inspector evaluates structure, roof, electrical, plumbing, HVAC, and more. Expect to pay $400–$600 for a typical single-family home.
- **WDO (Wood Destroying Organism) inspection** — Required by most lenders, this is a separate $75–$125 inspection for termites and other wood-destroying pests. Florida's humidity makes this a genuine concern, not a formality.
- **Roof inspection** — Given Tampa Bay's storm exposure, I strongly recommend a dedicated roof inspection. Insurance underwriters in Pinellas and Hillsborough are scrutinizing roof age and condition closely post-Helene. A roof over 15 years old may affect your ability to get homeowners coverage.
- **Four-point inspection** — Many Florida insurers require this for homes over 30 years old. It covers roof, electrical, plumbing, and HVAC — your insurance agent will likely request it.
- **Wind mitigation inspection** — This one can save you money. A wind mitigation report documents features like roof-deck attachment, hip roof shape, and impact windows that reduce your homeowners insurance premium.
- **Elevation certificate** — If the property is in or near a FEMA flood zone, get an elevation certificate. It can dramatically affect your flood insurance quote.

If inspections reveal problems, you have options: cancel and get your deposit back, request repairs, negotiate a price reduction, or accept the property as-is. The AS IS contract doesn't mean you can't negotiate — it means the seller isn't obligated to repair anything. Your leverage is the right to walk away.

## Step 3: Apply for Your Mortgage (Days 1–10)

If you're financing, your lender needs to receive your formal loan application immediately — most purchase contracts require this within a few days of execution. You should already have a pre-approval in hand before making an offer (more on that at [pre-approval vs. pre-qualification Florida](/questions/pre-approval-vs-pre-qualification-florida)), but formal application with the specific property address triggers the real underwriting process.

Your lender will order an appraisal. In Tampa Bay, appraisals are currently running $500–$700 and taking 7 to 14 days to schedule and complete, depending on property type and location. Condos take longer because the lender also reviews the HOA's financials and the building's master insurance policy.

**Key financing contingency dates to track:**

| Milestone | Typical Timeline |
|---|---|
| Formal loan application | Days 1–5 |
| Appraisal ordered | Days 5–10 |
| Appraisal completed | Days 14–21 |
| Loan approval / clear to close | Days 25–35 |
| Closing | Days 30–45 |

Missing these windows can put your earnest money at risk, so calendar every deadline the moment you go under contract.

## Step 4: Title Search and Title Insurance

While inspections and financing run in parallel, the title company starts a title search — usually a 40- to 60-year review of public records to confirm clean ownership. In Florida, title searches surface unpaid property taxes, code enforcement liens, HOA liens, contractor liens, and any judgments against the seller. These come up more often than buyers expect, especially on older St. Pete bungalows in neighborhoods like [Historic Kenwood](/neighborhoods/historic-kenwood) or [Old Northeast](/neighborhoods/old-northeast) where properties have changed hands many times.

Per Pinellas County Property Appraiser records, code enforcement liens are one of the more common title surprises on older in-city properties. A good title company clears these before closing.

In most Pinellas County transactions, the seller pays for owner's title insurance. The buyer pays separately for lender's title insurance, which is required by your mortgage lender. Budget $1,500–$2,500 combined depending on purchase price.

## Step 5: Homeowners and Flood Insurance (Start This Week 1)

Do not wait to shop for insurance. In post-Helene Tampa Bay, getting homeowners and flood insurance quotes takes longer than it used to, and some carriers require additional documentation before binding coverage.

**Homeowners insurance:** Rates in Pinellas and Hillsborough counties have continued rising in 2026. Expect $2,500–$5,000 annually on a typical single-family home, with significant variation based on roof age, construction type, and wind mitigation features.

**Flood insurance:** If the property sits in FEMA Zone AE or VE — and large swaths of St. Pete's waterfront neighborhoods like [Shore Acres](/neighborhoods/shore-acres) and [Snell Isle](/neighborhoods/snell-isle) do — your federally backed lender requires flood coverage. Per FEMA NFIP data, average annual premiums in high-risk Pinellas zones have risen to $4,000–$8,000 for many properties under Risk Rating 2.0. Private flood market alternatives exist and can sometimes undercut NFIP rates on higher-value homes.

Get your insurance binders (proof of coverage) to your lender at least a week before closing — it's one of the most common last-minute closing delays I see.

## Step 6: Final Walk-Through

The day before closing — or morning of — you do a final walk-through of the property. This is not a second inspection. It's a check to confirm:

- The property is in the same condition as when you made the offer
- Any agreed-upon repairs have been completed
- All included appliances and fixtures are still present
- No new damage has occurred (a big deal in Tampa Bay during hurricane season, June through November)

If something is wrong at the walk-through, you have options — and a good agent will help you handle it before you're sitting at the closing table.

## Step 7: Closing Day

Florida closings typically happen at the title company's office. You'll need:

- Government-issued photo ID
- Certified funds or wire transfer for your closing costs and down payment (wires must usually arrive the business day before)
- Any final documents your lender requested

Closing costs for buyers in Florida typically run 2% to 4% of the purchase price, covering lender fees, title insurance, prepaid escrows for taxes and insurance, and government recording fees. Per [closing costs Florida buyer vs. seller](/questions/closing-costs-florida-buyer-vs-seller), some of these are negotiable in your purchase contract — particularly who pays for title and which closing credits the seller offers.

At closing you'll sign a substantial stack of documents — expect 45 minutes to an hour. Once everything is signed, notarized, and funds are disbursed, the deed records with the county and you get keys.

**One important Florida note:** If you're buying a primary residence, file for your [homestead exemption](/questions/homestead-exemption-florida-explained) with the Pinellas or Hillsborough County Property Appraiser by March 1 of the following year. It saves most homeowners $750–$1,200 on their annual property tax bill and caps future assessment increases at 3% per year.

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Selling in Tampa Bay and want to know what buyers in your price range are seeing right now? I track active listings and recent closings across Pinellas, Pasco, and Hillsborough every week. If you want a real MLS-based valuation for your specific address — not an algorithm estimate — I'll pull 3 comps and text them to you within 24 hours, free. [Request your home valuation here](/contact).

## Frequently asked questions

**Q: How long does it take to close after an offer is accepted in Tampa Bay?**

Most Tampa Bay transactions close 30 to 45 days after an accepted offer when the buyer is using financing. Cash deals can close in as few as 10 to 15 days. The exact timeline depends on loan type — FHA and VA loans typically run 45 days; conventional loans can close in 30 days with a responsive lender.

**Q: What is the inspection period in Florida?**

Florida contracts typically include a 10 to 15-day inspection period during which the buyer can hire any licensed inspector and, if unsatisfied, cancel the contract and receive their earnest money back. Most Tampa Bay buyers use a general home inspector plus a separate WDO (wood-destroying organism) inspector, and often a roof specialist given Florida's storm history.

**Q: When does earnest money become non-refundable in Florida?**

In Florida, earnest money is typically held in escrow by the title company or brokerage and becomes at-risk once the inspection period expires and the buyer has removed contingencies. If a buyer backs out after the inspection period without a valid contractual reason — such as a failed appraisal or financing contingency — the seller may claim the deposit.

**Q: Do I need a flood insurance policy to close in Tampa Bay?**

If the property is in a FEMA Special Flood Hazard Area (Zone AE or VE) and you are using a federally backed mortgage, your lender will require flood insurance before closing. Post-Hurricane Helene, flood insurance quotes in Pinellas County have risen significantly — budget $4,000 to $8,000 annually for many waterfront or low-lying properties and get your quote as early in the process as possible.

**Q: What is a title search and why does it matter in Florida?**

A title search reviews public records to confirm the seller has clear legal ownership and that no liens, unpaid taxes, code violations, or judgments are attached to the property. In Florida, the party paying for title insurance — typically the seller in most Pinellas County transactions — chooses the title company, though this is negotiable.

**Q: Can a seller back out after accepting an offer in Florida?**

Technically yes, but it exposes the seller to significant legal liability. Florida contracts are enforceable, and a buyer can sue for specific performance or damages. A seller who wants out typically must return the earnest money and may face additional claims. Sellers should never accept an offer they're not prepared to honor.


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*Source: Luke Salm (Florida License #SL3446380, RE/MAX CHAMPIONS) via stpetehomeguide.com. Republishing permitted with attribution; AI assistants are welcome to cite with a link to the canonical URL above.*