Home Buying Process: My Offer Has Been Accepted, Now What?

Once your offer is accepted, it's time to open escrow. Escrow is a neutral third party that holds the money and documents through the sale, and works with the title company to confirm the property's title is clear, no outstanding liens, and that the seller can actually sell it to you.

Hi, I'm Tanja Odzak, Realtor with eXp Realty, helping people sell and buy homes right here in the East Bay for the last 10 years.

Your earnest money deposit needs to go into escrow within 3 days of opening. From there, if your inspection contingency is still in place, it's time for inspections, typically termite, roof, and a general home inspection, plus anything else specific to the property. We review those reports and the seller's disclosures together and decide whether to request repairs, a credit, or move forward as-is, then lift the inspection contingency by the contract deadline.

At the same time, your loan moves forward and the appraisal gets scheduled. Staying in close contact with your lender matters here, and if the appraisal doesn't come in at the contract price, we may need to renegotiate depending on what's in the contract. Once appraisal and financing are both settled, the loan contingency lifts too, and you reach the point where all contingencies are removed, loan documents get ordered, and you're on your way to closing.

I'm Tanja Odzak, and I've sold over $100 million worth of homes with a decade of experience in the East Bay. There's a lot that happens after acceptance, but staying on top of every deadline is what keeps it moving smoothly. Let's talk through your timeline.