What happens after I accept an offer on my Temecula home? Once you accept an offer, your home enters escrow. The buyer deposits earnest money, inspections are scheduled, the appraisal is ordered (if financed), loan approval moves forward, and contingencies begin ticking down. The next 21–45 days determine whether your contract closes smoothly or turns into a renegotiation.
Step 1: Earnest Money Deposit (EMD) Within 1–3 business days, buyer deposits earnest money into escrow. Contingency timelines begin.
Step 2: Buyer Inspections General home inspection, roof inspection, HVAC evaluation, termite inspection, sewer/septic (especially Meadowview, De Luz, Wine Country). Buyer may request repairs, credits, or accept as-is.
Step 3: Appraisal (If Buyer Is Financing) Lender orders appraisal comparing recent Temecula comps. Value must support contract price. Low appraisal may trigger renegotiation unless buyer has appraisal gap coverage.
Step 4: Loan Approval Income verification, asset review, debt-to-income confirmation, underwriting approval. “Clear to close” = financing risk decreases significantly.
Step 5: Contingency Removals Inspection, appraisal, and loan contingencies each have deadlines. Once removed, buyer’s deposit becomes at risk and seller leverage increases.
Step 6: Final Walk-Through Buyer confirms property condition unchanged, agreed repairs completed, no new damage.
Step 7: Signing and Funding Seller signs final documents, loan funds, escrow records with Riverside County, proceeds wired.
Typical Escrow Timeline Cash: 10–21 days. Financed: 21–30 days. Luxury/acreage: 30–45 days.
About Anthony Anselmo REALTOR® Over 200 homes sold, 75 transactions last year totaling more than $55M. Abundance Real Estate serving Temecula, Murrieta, Menifee, Winchester, Meadowview, De Luz, and Temecula Wine Country.