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REAL ESTATE GUIDE Buyer’s Roadmap: Offer Acceptance to Close A step-by-step guide to navigating the critical weeks between getting your offer accepted and receiving the keys to your new home. |
Congratulations — your offer has been accepted. What happens next is a coordinated series of tasks, deadlines, and decisions that will carry you through to the moment you become a homeowner. The process typically runs 21–30 days for a financed purchase and 14–21 days for a cash purchase. In competitive markets, timelines can compress significantly — having your team ready to move immediately is essential.
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Immediately After Acceptance Days 1 – 3 |
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⚠ Wire Fraud Warning: The Escrow Company will contact you with wire instructions for your earnest money deposit. Always confirm wiring details verbally by phone with the escrow officer before sending any funds. Wire fraud targeting real estate transactions is a serious and growing risk. |
• Wire your earnest money deposit to escrow — typically required within 1–3 days of acceptance.
• Notify your lender that your offer has been accepted so they can begin processing your loan immediately.
• Review and sign your escrow instructions.
• Ask your agent for a calendar timeline of all critical milestones and contingency deadlines between acceptance and close — keep this visible throughout the transaction.
• Expect an email introduction from your agent to their Transaction Coordinator, who will manage document flow to escrow, ensure all required paperwork is signed, and keep the transaction on track.
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Inspections Days 3 – 17 · Skip if offer was made with no contingencies |
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ℹ Note: This step can be skipped entirely if your offer was made with no inspection contingencies. In highly competitive markets like Los Altos, waiving inspections is common — but carries risk. |
• Schedule and attend a general home inspection.
• Schedule a pest and termite inspection.
• Order any specialized inspections the property warrants — roof, foundation, chimney, pool, sewer lateral, or HVAC.
• Review all inspection reports carefully and decide whether to request repairs, credits, or accept the property as-is.
• If issues arise, negotiate repairs or price credits with the seller through your agent.
• Once satisfied, your agent will send you the paperwork to formally remove or waive the inspection contingency.
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Financing Running Concurrently |
• Submit your complete loan application package to your lender promptly.
• Respond quickly to all lender document requests — tax returns, bank statements, pay stubs, and any other items. Delays here directly affect your close date.
• Do not make any new credit inquiries, large purchases, or job changes during this period — any of these can jeopardize your loan approval.
• Your lender will order the property appraisal. Monitor that it is scheduled and completed promptly — the appraisal is on the critical path to loan approval.
• Review the appraisal when received. If it comes in below the purchase price and you have an appraisal contingency, you can negotiate with the seller or cover the gap through an increased down payment.
• Review the Loan Estimate from your lender, and later the Closing Disclosure — these documents detail all loan terms and costs.
• Once you receive formal loan approval, notify your agent immediately so they can generate the paperwork to remove the financing contingency.
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Title & Escrow Running Concurrently |
• Review the preliminary title report for any liens, easements, or encumbrances. Note that some of this information may already appear in the seller’s disclosures.
• Work with your agent and escrow officer to resolve any title issues before close.
• An owner’s title insurance policy is optional but strongly recommended — it protects your ownership interest against future claims that may not be apparent at the time of purchase.
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Insurance & Home Warranty Start Immediately — California Timelines Can Be Long |
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ℹ California Note: Obtaining homeowner’s insurance has become significantly more challenging in California in recent years. Begin this process on Day 1 — do not wait until the final week. |
• Shop for and bind homeowner’s insurance before close. Your lender will require proof of coverage before funding the loan, and will specify the required coverage types and minimum levels.
• Depending on the property’s location and your risk profile, consider flood, earthquake, and umbrella coverage.
• If you choose to purchase a home warranty, ask your agent for recommendations. The Transaction Coordinator will coordinate the purchase and arrange for the premium to be paid through escrow.
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Pre-Close Final Week |
• Conduct a final walk-through of the property, typically 24–48 hours before close. Confirm the property is in the same condition as when you toured it, agreed repairs have been completed, and no new damage has occurred. Once staging is removed, check that nail holes have been patched and that no damage was concealed by furniture or décor.
• Request a Preliminary Closing Statement from escrow. This itemizes all costs: down payment, loan amount, title fees, closing costs, lender fees, and prepaid HOA and property tax amounts. Review it carefully with your agent.
• When you receive the Final Closing Statement, reconcile it against the Preliminary Closing Statement and confirm all numbers are consistent.
• Sign your closing documents — this typically takes place a few days before the scheduled close date.
• Wire your closing funds to escrow after confirming wire instructions verbally with the escrow officer by phone. Your wire triggers the closing sequence: the lender funds the loan, escrow releases proceeds to the seller, and escrow submits the deed transfer request to the County.
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Close of Escrow The Finish Line |
1. The lender funds the loan, typically after confirming your down payment has already been received by escrow.
2. Escrow releases proceeds to the seller.
3. The deed is recorded with the County — this is the official close event and the moment you become the legal owner of the property.
4. Your agent collects the keys from the seller and hands them to you. Congratulations — you own the home.
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A Final Word on Timing & Fraud Prevention The typical financed purchase closes in 21–30 days; cash purchases often close in 14–21 days. In competitive markets, your inspection team and lender should be on standby before your offer is even submitted. On fraud: always verify wire instructions by phone — not by email, not by text — directly with your escrow officer before sending any funds. Real estate wire fraud is sophisticated and growing. One phone call can protect your entire down payment. |
