What happens after my offer is accepted?
Once your offer is accepted, the home enters escrow and the transaction process officially begins. Buyers typically submit their deposit and begin inspections, financing, and document reviews.
Full Explanation
After a seller accepts your offer, the transaction moves into escrow, which is the period where all contractual conditions and requirements are completed before ownership transfers. In most cases, buyers are required to submit their earnest money deposit within a few business days. During escrow, buyers typically schedule inspections, finalize financing, review disclosures, and complete any remaining due diligence.
This stage is important because it allows buyers to fully evaluate the property and confirm that financing and contractual conditions can be satisfied. A realtor helps coordinate communication between the buyer, seller, lender, escrow company, and inspectors to keep the transaction moving smoothly. In Sherman Oaks, escrow timelines commonly range around 30 days, although timing may vary depending on negotiations and financing.
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