Under Contract in New Hampshire Now What?

Shortly after mutual acceptance, you will provide an earnest money deposit. In New Hampshire, this deposit is typically held in a broker’s trust account or by a closing attorney.

This check will be deposited. If the transaction closes successfully, it is applied toward your purchase price. If the contract is terminated within contingency timelines, the deposit is generally returned to you.

However, if you default outside of contingency protections, the seller may be entitled to retain the deposit as liquidated damages. This is why contract timelines matter. We monitor these dates carefully to protect you.

Most New Hampshire contracts run 30 to 45 days, but waterfront or more complex transactions in towns like Meredith, Moultonborough, or Wolfeboro may extend longer.

Key dates typically include:

• Inspection deadline
• Financing commitment deadline
• Appraisal completion
• Title review period
• Closing date

Missing deadlines can create risk. We track these milestones proactively so nothing is left to chance.

Your inspection period typically begins immediately after contract execution.
This is your opportunity to:

• Conduct a general home inspection
• Evaluate septic systems
• Review well water results
• Inspect waterfront features such as docks and shoreland compliance

In the Lakes Region, septic systems and waterfront permitting require special attention. We often identify potential red flags early so there are no last-minute renegotiations or surprises.

If inspection findings are unacceptable, you may negotiate repairs, request credits, or terminate the contract within the contingency period.

Once under contract, your lender moves from pre-approval to full underwriting.

You must:

• Submit updated financial documentation
• Lock your interest rate
• Complete appraisal
• Secure final loan commitment

If financing cannot be secured within the agreed timeframe, you must either request a written extension or decide whether to remove the contingency. Removing it means you proceed at risk.

We stay in close contact with lenders to ensure underwriting moves efficiently and issues are addressed early, not three days before closing.

In New Hampshire, closings are handled by attorneys who conduct a title search to confirm the seller can transfer clear and marketable title.

Title review examines:
• Easements
• Liens
• Boundary issues
• Access rights
• Waterfront usage rights

This is particularly important for Lake Winnipesaukee and Squam Lake properties where dock rights, shared driveways, and deeded access must be clearly documented.

We review title matters carefully and escalate issues immediately if needed.

You will need to secure homeowner’s insurance prior to closing. Lenders require proof of insurance before issuing final approval.

For waterfront homes, insurance can require additional underwriting due to:
• Proximity to water
• Replacement cost considerations
• Seasonal occupancy

It is wise to apply early. Delays in insurance approval can delay closing.

Your lender will order an appraisal to confirm the property supports the contract price.

If the appraisal comes in at or above value, the transaction proceeds smoothly.

If it comes in below value, options may include:
• Renegotiation
• Additional down payment
• Reconsideration of value

We prepare proactively for appraisal by providing comparables and supporting documentation when necessary.

Prior to closing, you should:
• Contact electric providers
• Arrange fuel or propane delivery
• Schedule internet installation
• Confirm municipal or private water status

In rural Lakes Region towns, services can vary. Planning ahead ensures you walk into a fully operational home on day one.

Shortly before closing, you will conduct a final walk-through.

This is not a second inspection. It confirms:
• Agreed repairs were completed
• Appliances and fixtures remain
• Property condition has not changed

If anything differs from contract expectations, it must be addressed before signing.

At least three business days before closing, you will receive your Closing Disclosure outlining:
• Final loan terms
• Transfer tax allocation
• Escrow funding
• Cash to close

The closing attorney also prepares the settlement statement.

We review these documents line by line before funds are wired. Most closing stress occurs when buyers see numbers they do not expect. Our process prevents that.