What Actually Happens After Your Offer Gets Accepted (Part 1)
The due diligence phase, and where deals fall apart
Buying real estate is one of the biggest financial decisions most people will make.
One of the most common questions I get from buyers is:
“What actually happens after my offer gets accepted?”
Let’s walk through it.
In most cases, accepted offers come with subjects.
Today we’ll focus on that scenario, what happens between offer acceptance and subject removal, also known as the due diligence period.
Every transaction is different, but here’s a practical breakdown so you know what to expect.
Timeline
Typical subject period:
5 to 7 business days
This can be longer if:
- You don’t have a solid pre-approval
- Your financing is more complex (for example, self-employed income)
The Core Subjects
Most offers include some combination of:
- Financing
- Inspection
- Title search
- Property Disclosure Statement (PDS or no-PDS)
- Strata document review (for strata properties)
- Insurance
What Actually Happens During Those 5–7 Days
1. Financing
First step is sending the accepted offer to your mortgage broker or lender.
Approval timelines vary:
- As fast as 2–3 days if everything is clean
- Up to 7–10 days for more complex files
Factors that affect timing:
- Employment type (self-employed vs salaried)
- Down payment readiness
- Supporting documents
In most cases, the lender will also require an appraisal before final approval.
2. Inspection
Inspection is usually scheduled early in the process.
In theory, buyers prefer to confirm financing first before paying for an inspection.
In reality, good inspectors get booked quickly, so we often secure a time slot right after acceptance.
What matters here is not just the report, but interpretation:
- Minor issues (caulking, cosmetic cracks) are normal
- Structural or moisture issues require serious consideration
Any repair negotiations happen before subject removal.
3. Strata Document Review (if applicable)
This is where most buyers feel overwhelmed.
There can easily be hundreds or even thousands of pages.
A practical way to approach it:
Start with:
- Form B
- AGM minutes
- Depreciation report
- Recent strata meeting minutes
Then dig deeper if needed.
Most important:
Do not leave this until the last day.
You need buffer time to ask questions to the listing agent or strata manager.
4. Title Search + PDS
Your realtor should walk you through the basics of the title:
- Ownership structure
- Charges on title
- Easements or rights of way
For anything technical, your lawyer or notary should review it before subject removal.
The PDS (Property Disclosure Statement) is more straightforward.
Think of it as the seller’s understanding of the property, presented in a questionnaire format.
5. Insurance
This step is getting more important.
Insurance premiums have increased significantly in recent years.
We strongly recommend buyers:
- Get a quote early
- Confirm the property is insurable at a reasonable cost
This avoids surprises right before subject removal.
6. Deposit
Deposit is typically due after subject removal, often within 24 hours.
Once subjects are removed and deposit is paid:
the deal becomes firm and binding.
7. After Subject Removal
From here, things move into closing preparation:
- Lawyer/notary needs ~2 weeks for title registration
- Any agreed repairs need to be completed
- Typical completion and possession is 1–2 months later
Where Deals Fall Apart
This is the part most people don’t talk about.
1. Financing
This is the #1 reason deals collapse.
Not speaking to a mortgage professional early enough can lead to:
- Rejected approval
- Reduced borrowing capacity
Which means walking away from a home you already mentally committed to.
2. Inspection
An inspection report will always find issues.
The key is knowing the difference between:
- Normal maintenance
- Serious structural concerns
If the issues are significant, buyers need to reassess whether to proceed.
3. Strata Documents
This is the quiet deal breaker.
Questions to ask:
- Are there upcoming special levies?
- Is the building well maintained?
- Is the contingency fund adequate?
A well-managed building may still have levies, and that’s not necessarily a red flag.
But poor maintenance and deferred repairs can lead to much bigger costs later.
Final Thought
This entire phase is about one thing:
reducing uncertainty before committing.
It’s not just about checking boxes.
It’s about understanding what you’re buying, financially and structurally.
If you’re thinking about buying and want to understand how this applies to your situation, feel free to reach out. Happy to walk you through it.