Real estate glossary
Acceptance
Also called: Date of acceptance, Days After Acceptance
The moment an offer or counteroffer is signed and delivered back to the other side, creating a binding contract and starting the clock.
Acceptance is when one side agrees to the other's final terms in writing and that signed acceptance is delivered back. It is the moment the deal becomes a contract.
Many deadlines are written as a number of "Days After Acceptance" — for example "17 Days After Acceptance" for the buyer's investigations. Knowing your exact acceptance date is the key to knowing every date that follows.
What it means for you as a seller
Write down the acceptance date the moment you have it, then count out each deadline. That calendar is what tells you when you can expect contingencies to be removed.
Related terms
- Purchase agreementThe written contract a buyer uses to make an offer; once both sides sign it, it sets the price, deadlines and terms of the sale.
- ContingencyA condition in the contract that must be met — or removed — by a deadline, letting the buyer cancel if it is not satisfied.
- Earnest money depositThe buyer's good-faith deposit, held by escrow and credited toward the price at closing.
Not legal or tax advice. These explanations are general information to help you follow your own transaction. Laws, forms and customs vary by state and county, and the terms of your own contract always control. For advice about your situation, talk to your real estate agent, a real estate attorney or a tax professional. Last updated .