What Happens After You Accept an Offer on Your Portland Home?
What Happens After You Accept an Offer in Portland, Oregon? Once you accept an offer, the transaction enters escrow—a process that typically takes 30 to 45 days for financed purchases. During escrow: Most sellers receive their proceeds by wire transfer shortly after recording, typically within one business day. By Pascha Cain, Real Estate Broker June 8, 2026 The Offer Is Accepted—Now What? You accepted an offer. The negotiations are complete, both parties have signed, and you officially have a contract. While it may feel like the hard part is over, the next 30 to 45 days are often the most important stage of the transaction. This is when inspections, financing, title work, and closing preparations all take place. Understanding the process ahead of time helps eliminate surprises and keeps the transaction moving smoothly. Step 1: Escrow Opens In Oregon, home sales are typically handled through a title and escrow company rather than a closing attorney. Once the purchase agreement is fully executed: Earnest Money Deposit The buyer usually deposits earnest money within a few business days. In Portland, earnest money is commonly: The funds remain in escrow until closing and are applied toward the buyer’s purchase. Step 2: Title Work Begins At the same time escrow opens, the title company begins researching the property. This process includes: If you have a mortgage, the title company will also request a payoff statement from your lender. Most title work happens behind the scenes and only becomes visible if an issue is discovered. Step 3: The Inspection Period For many sellers, this is the most stressful phase of the transaction. Under standard Oregon contracts, buyers typically have approximately 10 business days to complete inspections and due diligence. Common Portland Inspections General Home Inspection The buyer’s inspector evaluates: Sewer Scope Inspection A sewer scope is extremely common in Portland, especially for older homes. The inspection uses a camera to evaluate the sewer line for issues such as: Radon Testing Radon testing is another routine inspection throughout the Portland Metro area. If elevated levels are detected, buyers may request mitigation before closing or negotiate a credit. Oil Tank Scan For older homes, buyers sometimes order underground oil tank scans. Undisclosed tanks can create environmental and financial concerns, making this inspection particularly important in certain neighborhoods. What Happens After Inspections? Once inspections are complete, buyers generally have several options: Accept the Home As-Is No additional negotiations are requested. Request Repairs The buyer asks the seller to complete specific repairs before closing. Request a Credit Instead of repairs, the buyer requests money at closing to address issues themselves. Cancel the Contract If permitted under the inspection contingency, the buyer may terminate the agreement and recover their earnest money. Inspection negotiations are one of the most common points where deals either move forward—or fall apart. Step 4: The Appraisal If the buyer is financing the purchase, their lender will order an appraisal. The appraisal confirms the property’s market value and helps the lender determine whether the home supports the loan amount. Possible Outcomes Appraisal Meets or Exceeds Purchase Price No issue. The transaction proceeds as planned. Appraisal Comes In Slightly Low The buyer and seller negotiate solutions such as: Appraisal Comes In Significantly Low If an agreement cannot be reached, the buyer may exercise their appraisal contingency and cancel the transaction. Cash buyers generally eliminate this risk because no lender appraisal is required. Step 5: Loan Approval and Underwriting While inspections and appraisals are taking place, the buyer’s lender is finalizing loan approval. Underwriters verify: Even pre-approved buyers may receive last-minute requests for documentation. These lender requirements are among the most common causes of closing delays. Step 6: Settlement Statement Review As closing approaches, the escrow officer prepares the settlement statement. This document outlines: Before signing, carefully review: This is your opportunity to verify that all negotiated terms have been accurately reflected. Step 7: Signing Closing Documents In Oregon, buyers and sellers often sign separately. At signing, sellers typically execute: Most signing appointments take between 20 and 45 minutes. Important Many sellers assume they receive their proceeds immediately after signing. That’s not how Oregon closings work. Step 8: Recording and Funding The sale officially closes when the deed records with the county. Once recording occurs: In most cases, funds are received the same day recording occurs or shortly afterward. This is the moment the transaction becomes final. Common Reasons Closings Get Delayed Most transactions close on schedule, but delays can happen. Inspection Negotiations Extended repair discussions can add days or weeks to a transaction. Low Appraisals Additional negotiations or appraisal challenges may delay closing. Title Issues Unexpected liens, ownership questions, or estate matters can require additional work. Lender Delays Underwriting requests and documentation issues are common causes of postponements. Contingent Buyers If your buyer must sell another property first, their timeline may affect yours. Your Responsibilities During Escrow While much of the work happens behind the scenes, sellers still play an important role. Respond Promptly Timely responses help maintain momentum and reduce unnecessary delays. Keep the Home Accessible Buyers may need: Maintain Property Condition The home should remain substantially in the same condition as when the buyer made their offer. Plan Your Move Early Possession often transfers immediately upon recording unless different terms were negotiated. Avoid assuming you’ll have additional time after closing. Review Documents Carefully Always review your settlement statement and closing paperwork before signing. Frequently Asked Questions How long does escrow take in Oregon? Most financed transactions take approximately 30–45 days. Cash transactions may close in as little as 15–25 days. When do sellers receive their money? Most sellers receive wired proceeds shortly after the deed records, typically within one business day. Do Portland buyers usually order sewer scope inspections? Yes. Sewer scopes are extremely common, particularly for homes built before the 1990s. Can buyers cancel after inspections? Yes. During the inspection contingency period, buyers may negotiate repairs, accept the property as-is, or terminate the contract according to the terms of the agreement. Who pays transfer