Home Buying Timeline
/This is a basic timeline of home buying in Oregon and Washington. This timeline applies after you have a mortgage pre-approval and have an accepted offer on a house you love.
Earnest money: Within 3 business days deposit your earnest money (which will go to the down payment at closing) with the Title and Escrow Company. You can use a check, wire transfer, or app if the Title company has one.
Inspection period: Begins on the first day after mutual acceptance, and you will have 10 business days in Oregon, 10 calendar days in Washington, to do all inspections and negotiate any repairs or change in purchase terms.
Repair negotiations: 3 days after Inspection Period in Washington, and part of the inspection period in Oregon, this is the only time to get the seller to make repairs, contribute funds towards the buyer’s closing costs, or change the purchase price.
Appraisal and final loan approval: After the inspection period the appraisal will be ordered by the lender. They will also submit all of the buyer’s financial documents to the underwriter, who will have the final say in approving the buyer and house for the loan.
Closing Day and Moving Day: Closing Day and Moving Day be different! Make sure your utilities for the day you will have possession of your new house. Prepare to move on the day you will have possession of your new house!