What Happens After My Offer Is Accepted?

What Happens After My Offer Is Accepted? A Clear Guide to Escrow in San Jose

Getting your offer accepted is exciting — but for many buyers, that excitement quickly turns into uncertainty.

I often hear:

• “What happens next?”

• “What is escrow?”

• “When can things go wrong?”

• “How do I protect myself now?”

In San Jose, the escrow period is where most of the work actually happens. Understanding the process helps you stay calm, make smart decisions, and avoid costly mistakes.

This guide walks you through what happens after your offer is accepted, step by step, so you know exactly what to expect.

For a full buying overview, start here:
👉 https://re38.com/san-jose-home-buying-process-guide

Step 1 — Your Offer Is Accepted (Day 0)

Once the seller accepts your offer:

• the purchase contract becomes active

• timelines officially begin

• escrow is opened

• your earnest money deposit is due

This is when the clock starts ticking on your contingencies.

Step 2 — Earnest Money Deposit (Days 1–3)

Earnest money shows the seller you’re serious.

In San Jose, this is typically:

• 1–3% of the purchase price

• wired to escrow within a few days of acceptance

This money is:

• held by a neutral escrow company

• credited toward your purchase at closing

• protected by your contingencies

Step 3 — Escrow Is Opened (Week 1)

Escrow is a neutral third party that:

• holds funds

• manages documents

• coordinates between buyer, seller, lender, and title

Once escrow opens:

• title work begins

• disclosures are delivered

• timelines are confirmed

Step 4 — Seller Disclosures & Reports (Week 1–2)

Sellers provide legally required disclosures, which may include:

• property condition reports

• inspection reports (if pre-sale inspections were done)

• disclosures of known defects

• HOA documents (if applicable)

This is where buyers learn the most about the home.

For legal and disclosure context, see:
👉 https://re38.com/san-jose-real-estate-contracts-disclosures-tax-guide

Step 5 — Buyer Inspections (Week 1–2)

Buyers typically conduct inspections such as:

• general home inspection

• roof inspection

• pest inspection

• sewer lateral (if applicable)

This helps identify:

• safety concerns

• deferred maintenance

• future repair considerations

Your inspection contingency protects you during this phase.

Step 6 — Negotiations (If Needed)

If inspections reveal issues, buyers may:

• request repairs

• ask for credits

• renegotiate price

• proceed as-is

In San Jose, negotiations are strategic — not emotional.
The goal is to reach fair resolution without jeopardizing the deal.

Step 7 — Appraisal (Week 2–3)

If you’re financing the purchase, the lender orders an appraisal to confirm value.

Possible outcomes:

• appraises at value → move forward

• appraises above → great

• appraises low → renegotiation or strategy needed

Your appraisal contingency protects you if value does not support the purchase price.

Step 8 — Loan Approval & Underwriting (Weeks 2–3)

During this phase:

• the lender verifies income, assets, and credit

• documentation is reviewed

• final loan approval is issued

Avoid:

• large purchases

• new credit inquiries

• job changes

Financing clarity is critical here.

Step 9 — Contingency Removal (Week 2–3)

Once inspections, appraisal, and loan approval are satisfactory:

• contingencies are removed

• your commitment becomes firm

• your earnest money becomes non-refundable

This is a major milestone.

Step 10 — Final Walkthrough (Just Before Closing)

Buyers perform a final walkthrough to:

• confirm condition

• ensure agreed repairs were completed

• verify the home is as expected

This is not another inspection — it’s a confirmation step.

Step 11 — Signing & Closing (Final Week)

At closing:

• loan documents are signed

• remaining funds are wired

• title is recorded

• keys are released

Once recording is confirmed, you officially own the home.

Common Issues That Can Delay Escrow

While most escrows go smoothly, delays can occur due to:

• appraisal issues

• loan documentation delays

• title problems

• HOA document delays

• unpermitted work

This is why guidance and preparation matter.

What You Should Do Next

After acceptance, I help buyers:

• track timelines

• understand disclosures

• navigate inspections

• handle negotiations calmly

• stay on schedule through closing

👉 If you want help navigating escrow, reach out here:
https://re38.com/contact

📞 Offer Accepted? Let’s Make Sure Escrow Goes Smoothly

My role doesn’t stop once your offer is accepted — that’s when experience matters most.

Zaid Hanna
408-515-1613
www.re38.com