Your offer got accepted. Congratulations. Now comes the part nobody warns you about: the 30 to 45 days between mutual acceptance and closing, also known as the escrow period. It’s a flurry of deadlines, paperwork, and coordinated activity involving your lender, the title company, inspectors, the appraiser, insurance companies, and both agents. Here’s exactly what happens, in roughly chronological order, so nothing catches you off guard.
Day 1 to 3: Earnest Money and Escrow Opens
Once both parties sign the purchase agreement, the clock starts. Your first obligation is delivering your earnest money deposit to the escrow company. In Central Oregon, this is typically $2,000 to $10,000, and it needs to be delivered within 2 to 3 business days of mutual acceptance.
The earnest money goes into an escrow account held by the title and escrow company (not the seller). It’s your good-faith deposit that demonstrates you’re serious about the purchase. At closing, it gets applied toward your down payment and closing costs.
Your agent will open escrow with a local title company. The title company begins their work immediately, ordering a title search and starting to prepare the preliminary title report.
Meanwhile, you should also:
- Formally apply for your mortgage if you haven’t already (pre-approval is not the same as a full application)
- Provide your lender with any additional documents they request
- Schedule your home inspection for the earliest available date
- Contact your insurance agent to start getting homeowner’s insurance quotes
Day 3 to 10: Inspections
In Oregon, the standard inspection contingency period is 10 business days from mutual acceptance. This is your window to hire inspectors, receive reports, and decide how to proceed. You want to schedule inspections as early as possible to leave time for review and negotiation.
A typical inspection schedule for a Central Oregon property might look like:
- Day 3 to 5: General home inspection (3 to 4 hours on site, report usually delivered within 24 hours)
- Day 3 to 5: Radon test placed (results take 48 hours)
- Day 4 to 6: Sewer scope if applicable
- Day 4 to 7: Well water testing and septic inspection if applicable
- Day 5 to 8: Any specialty inspections (structural engineer, roof specialist, pest/dry rot)
You should attend the general inspection if at all possible. Walking through the home with an experienced inspector teaches you things no report can capture. For a complete guide to what to look for, read our home inspection checklist for Oregon buyers.
After Inspections: The Buyer Response
Once you have your inspection reports, you’ll work with your agent to prepare a response. Under an Oregon purchase agreement, you have three choices:
- Accept the property as-is
- Submit a request for repairs, credits, or price reduction (the Buyer’s Objection)
- Terminate the contract (if issues are too significant)
If you submit a Buyer’s Objection, the seller can accept, counter, or reject. If you can’t reach agreement, you can still terminate within your contingency period and receive your earnest money back. For guidance on what to negotiate and what to let go, see our guide on home inspections.
Day 5 to 15: Appraisal
Your lender orders the appraisal shortly after you submit your full loan application. An appraiser visits the property, measures it, evaluates its condition and features, and identifies comparable sales to determine market value.
In Central Oregon, appraisals typically take 7 to 14 days from order to completion. During busy seasons (spring and summer), it can take longer because there are more transactions competing for a limited number of appraisers.
The appraisal results go to your lender. If the appraised value meets or exceeds the purchase price, this step is done. If it comes in low, you’ll need to negotiate with the seller. Our guide on understanding home appraisals covers what happens in detail.
Day 7 to 20: Title Search and Preliminary Report
The title company researches the property’s ownership history, looking for:
- Any liens (mortgages, tax liens, mechanic’s liens, judgment liens)
- Easements that affect the property (utility easements, access easements)
- CC&Rs (covenants, conditions, and restrictions) and HOA obligations
- Boundary disputes or encroachments
- Any clouds on title (issues that could affect the seller’s ability to transfer clean ownership)
You’ll receive a preliminary title report that lists everything the title company found. Review this carefully with your agent. Most items are routine, but occasionally the title search reveals surprises like an unrecorded easement, a lien from a previous owner, or a boundary issue that needs resolution before closing.
Day 10 to 25: Loan Processing and Underwriting
While inspections and the appraisal are happening, your lender is processing your loan application. The underwriter reviews everything: your income documentation, tax returns, bank statements, credit report, the appraisal, the title report, and more.
During this period, expect:
- Condition requests: The underwriter will almost certainly ask for additional documents. Letters of explanation for large deposits, updated pay stubs, proof of gift funds for your down payment, verification of employment. Respond to these immediately. Every day you delay extends the closing timeline.
- Don’t make financial changes: Do not change jobs, make large purchases, open new credit accounts, co-sign for anyone, or move large amounts of money between accounts. The underwriter is looking at a snapshot of your financial life, and any changes create new questions and delays.
Conditional Approval
You’ll likely receive a “conditional approval” before final approval. This means the underwriter has approved your loan subject to specific conditions being met, such as providing your final pay stub or proof of insurance. Clear these conditions as quickly as possible.
Day 15 to 25: Insurance
Your lender requires proof of homeowner’s insurance before closing. In Central Oregon, this is an area where you should start early because:
- Properties in wildfire-prone areas may have limited insurance options and need extra time to find coverage
- If you’re buying in a flood zone (parts of the Deschutes River corridor, for example), you’ll need separate flood insurance
- Your lender has specific coverage requirements (dwelling coverage, liability limits, deductible maximums)
Get quotes from at least three insurance companies. Bundling with your auto insurance usually provides a discount. Make sure the policy effective date is on or before your closing date.
Day 25 to 30: Clear to Close
Once the underwriter has signed off on everything, the appraisal is acceptable, and all conditions are met, you receive “clear to close” from your lender. This is the green light to schedule closing.
At this point, the title company prepares the closing documents, and your lender sends the final Closing Disclosure. Federal law requires you to receive the Closing Disclosure at least 3 business days before closing, giving you time to review the final numbers.
Compare the Closing Disclosure against the Loan Estimate you received when you applied. The numbers should be very close. If you see significant changes in fees or terms, ask your lender to explain before you sign.
Day 28 to 30: Final Walkthrough
One to two days before closing (sometimes the morning of), you’ll do a final walkthrough of the property. This is not another inspection. The purpose is to verify:
- The property is in the same condition as when you made your offer
- Any agreed-upon repairs have been completed
- The seller has moved out and removed their belongings
- All fixtures and appliances that are supposed to stay are still there
- No new damage has occurred
If you discover issues during the walkthrough, your agent will contact the listing agent to resolve them before closing. Serious problems (like the seller removing a built-in appliance that was supposed to stay) can delay closing until resolved.
Closing Day
In Oregon, closing happens at the title and escrow company’s office. Here’s what to expect:
What to Bring
- Valid government-issued photo ID (both buyers if purchasing jointly)
- Cashier’s check or proof of wire transfer for your down payment and closing costs (the title company will give you the exact amount and wiring instructions a few days before)
- Any remaining documents your lender needs
What You’ll Sign
Expect to sign 50 to 100 pages of documents. The major ones include:
- Promissory note: Your promise to repay the loan
- Deed of trust: Gives the lender a security interest in the property
- Closing Disclosure: Final accounting of all costs
- Deed: Transfers ownership from the seller to you
- Title insurance policies: Coverage documents
- Various affidavits and disclosures
The signing typically takes 30 minutes to an hour. The escrow officer will explain each document, but don’t hesitate to ask questions about anything you don’t understand.
After Signing
Once everyone has signed and the lender has funded the loan, the title company records the deed with the county. In Central Oregon, recording usually happens the same day or the next business day. Once recording is confirmed, you receive your keys.
Some closings allow you to get keys at the signing table. Others require waiting until recording confirms. Your agent will let you know the expected timeline.
What Can Go Wrong (and How to Handle It)
Most closings go smoothly, but here are the common hiccups:
- Appraisal comes in low: Negotiate with the seller, bring extra cash, or challenge the appraisal. Start this conversation immediately because it takes time to resolve.
- Inspection reveals major issues: Negotiate repairs or credits. If the seller won’t budge on a significant problem, use your contingency to exit.
- Loan conditions aren’t met: Stay on top of every document request. Set up a folder on your phone for quick access to financial documents.
- Title issues: The title company handles most of these, but some (like unreleased liens from previous owners) can take time to clear.
- Rate lock expiration: If closing gets delayed beyond your rate lock period, you may need to extend the lock (usually at a cost) or accept current market rates.
- Wire fraud: This is a real and growing threat. Never wire closing funds based solely on an email. Always verify wiring instructions by calling the title company at a number you know is correct (not one from the email).
A Timeline Summary
- Days 1 to 3: Deliver earnest money, apply for mortgage, schedule inspections
- Days 3 to 10: Complete inspections, negotiate repairs
- Days 5 to 15: Appraisal completed
- Days 7 to 20: Title search and preliminary report
- Days 10 to 25: Loan processing and underwriting
- Days 15 to 25: Secure homeowner’s insurance
- Days 25 to 30: Clear to close, receive Closing Disclosure
- Days 28 to 30: Final walkthrough
- Day 30 to 45: Closing and recording
The key to a smooth closing is responsiveness. When your lender, agent, or title company asks for something, provide it the same day if possible. Delays in any part of the process can cascade and push closing back. Keep your phone on, check your email regularly, and don’t plan a vacation during escrow.
Want to talk through what to expect for your specific situation? Our team has guided hundreds of buyers through this process in Central Oregon.