You’re Under Contract in New Hampshire. Now What?

In New Hampshire, “under contract” means both parties have signed the Purchase and Sale Agreement and agreed to terms. Unlike some states, we do not typically say “in escrow.” The agreement outlines deadlines, contingencies, and the closing date. From this moment forward, timelines matter. Inspections, financing, and title review all begin according to the contract schedule. The period between contract and closing is where strong oversight prevents surprises.

Earnest money is typically due within a few days of mutual acceptance. It is usually held in a broker’s trust account or by the closing attorney. This deposit demonstrates good faith and is applied toward your purchase at closing.

Yes, if you default outside contingency protections. However, if you terminate within inspection or financing contingency periods, your deposit is typically returned. This is why deadline management is critical.

Most transactions run 30 to 45 days. Waterfront or more complex properties in towns like Moultonborough or Meredith may take longer due to septic, permitting, or title review.

Do not make large purchases, change jobs, open new credit accounts, or move large sums of money without consulting your lender. Underwriting continues until closing.

Immediately. Inspection deadlines in New Hampshire are strict. Delays can reduce your negotiating leverage.

General home inspection, septic inspection, water testing, radon, and for waterfront homes, dock and shoreland compliance reviews.

You can negotiate repairs, request credits, or terminate the contract within the inspection contingency period.

Yes, especially in lakefront areas. Septic age, compliance, and design matter. Early review prevents last-minute stress.

Yes, if material defects are discovered and addressed within contingency timelines.

Your lender moves from pre-approval to full underwriting. Documentation is verified in detail.

It protects you if you cannot secure a mortgage within the agreed timeframe.

This is formal lender approval, often required before removing financing contingency.

Yes. Income changes, credit shifts, or appraisal issues can affect approval.

Rate lock timing depends on market conditions and closing timeline. Strategic discussion with your lender is essential.

The lender requires confirmation that the property supports the agreed purchase price.

Options include renegotiation, increasing down payment, or contesting value.

Yes. Comparable sales for Lake Winnipesaukee or Squam Lake properties can be limited.

Yes, through a reconsideration of value with supporting comparables.

It confirms value but does not reduce the purchase price.

A review of public records to confirm ownership and uncover liens or encumbrances.

Title that can legally and cleanly transfer without unresolved claims.

Yes. Dock rights, shared access, and utility easements are common.

It must be resolved before closing.

The closing attorney prepares it, and we review it carefully with you.

Immediately after contract acceptance. Lenders require proof before closing.

It can be, due to valuation and proximity to water.

Closing may be delayed. Early application prevents this.

Depends on FEMA flood zone designation.

Lender’s policy is required. Owner’s policy is strongly recommended.

You may lose contractual protections.

Yes, but only with written agreement from both parties.

Inspection response deadlines.

Your agent should track every milestone carefully.

Inspection disputes, financing delays, appraisal gaps, or title issues.

At least three business days before closing.

Interest rate, cash to close, transfer tax, escrow amounts.

Wire transfer after verbal confirmation of instructions.

It is a known risk. Always verify instructions by phone.

Typically within 24 hours before closing.

To confirm agreed repairs and property condition.

Only if contractual conditions were not met.

This must be resolved before signing.

Yes, so systems can be confirmed operational.

Seller is typically responsible to restore condition.

Typically 60 to 90 minutes.

Buyer, seller, and the closing attorney.

When documents are signed and recorded.

Usually immediately after recording confirmation.

Assuming everything will “just happen.” Active oversight prevents delays and protects your position.