Closing Day: The Final Walkthrough, Signing, and Actually Getting the Keys
Posted on May 27, 2026 Leave a Comment
Home Buyer Series — Part 6 By Jesse J. Rivas | Jesse Rivas Realty | Lodi, CA
In Part 5, we walked through the quiet stretch of final underwriting, the lender’s last check, conditional approval, and how to keep your file clean all the way to “clear to close.” This is where it all lands. The last walkthrough, the signing table, the wire, the recording, the keys. If you’ve been following the series, this is the day everything you’ve done over the last 30 to 45 days finally pays off.
The Week Before Closing
By the time you’re a week out, most of the heavy lifting is done. Your loan has been cleared, your homeowner’s insurance is in place, and the title company has the loan documents on the way. From here, it’s a short list of moving pieces, but each one matters.
A few things start happening in parallel:
Your lender prepares the final loan documents and sends them to the title or escrow company.
The title company prepares your Closing Disclosure, the federally required document that lays out exactly what you owe, what your loan looks like, and where every dollar is going. By law, you must receive this at least 3 business days before you sign. Read it carefully when it lands. Compare it to the Loan Estimate you got at the very beginning. Numbers should be close. If something looks off, ask before you sign.
You’ll get a final cash-to-close number and wiring instructions from the title company. This is the number you actually need to send in. Set it up with your bank early; wire transfers have cutoff times, and a wire that arrives on Monday afternoon for a Monday signing will push everything.
And we’ll schedule the final walkthrough, usually the day before signing, sometimes the morning of.
The Final Walkthrough
This is the last time you walk through the house before it becomes yours. It’s not another inspection. It’s a check that the home is in the same condition it was when you wrote the offer, and that any repairs the seller agreed to were completed.
When I do a final walkthrough with a client, here’s what I’m looking for:
Agreed-on repairs. If the seller agreed to fix the leaking faucet, replace the broken window, or service the HVAC, we want to see the work done, and ideally, a receipt from a licensed contractor. This is where having a construction background helps. I can usually tell quickly whether a repair was done properly or whether someone just made it look fixed.
Condition of the home. The seller is required to leave the home in substantially the same condition as you saw it. That means appliances are still working, fixtures are still in place, and there is no new damage from the move-out.
What was supposed to stay, stays. The refrigerator, the washer and dryer, the shed in the backyard, whatever was written into the contract should still be there. I’ve walked into homes where the seller took the bathroom mirrors. It happens.
Utilities are on. We want water running, lights working, and HVAC functional. You can’t really verify the home is in working order if the power is off.
No surprises. Nail holes from removed pictures are fine. A new hole in the drywall from moving the couch is not.
If something is wrong at the walkthrough, we don’t panic. Most issues can be resolved with a credit at closing or a quick agreement between agents. But the time to catch it is before you sign and not after.
Signing Day
In California, signing usually happens at a title company office, sometimes with a mobile notary at your home. You’ll spend about an hour to an hour and a half signing.
A few things to bring:
- A government-issued photo ID, driver’s license or passport
- The cashier’s check or wire confirmation for your cash-to-close (if you haven’t wired it yet)
- A pen you’re comfortable writing your name with about 40 times
The documents fall into two stacks. The first is your loan package, the promissory note, the deed of trust, disclosures, and a number of forms the lender requires. The second is the closing package from the title company, the deed transferring the property into your name, the closing statement, and other escrow paperwork.
The notary or escrow officer will walk you through every page. Don’t rush. If you don’t understand something, ask. There’s no prize for finishing in 45 minutes instead of 90.
When you walk out of that office, you’ve signed everything, but you don’t own the home yet.
What Actually Makes It Official
This is the part most people don’t realize. Signing isn’t closing.
After you sign, the loan documents go back to your lender for one final review, a step called funding. Once the lender confirms everything is in order, they wire the loan funds to the title company. That usually happens the same day or the next morning.
Once the funds are received, the title company records the deed with the San Joaquin County Recorder’s Office. The moment the deed is recorded, the home is legally yours.
In California, this is almost always a same-day or next-day event after signing. So a Friday signing might mean a Friday afternoon or Monday morning close. Your title company and I will be in close contact during this window, and I’ll let you know the second we get word that it’s recorded.
Getting the Keys
Once we get recording confirmation, I’ll meet you at the home, or hand off the keys however you prefer. Depending on the deal, the seller may have left a lockbox, a garage code, and the keys to all the doors. We’ll walk through together, make sure everything works, and figure out anything that needs immediate attention.
A few things I tell every new homeowner that day:
Change the locks. You don’t know who has a copy of the old key: contractors, neighbors, the seller’s adult kids. A locksmith can rekey the home for under $200, or you can swap out hardware yourself in an afternoon.
Find the main water shutoff and the breaker panel. Before something goes wrong. You want to know where they are when it’s calm, not at 11 p.m. with water on the floor.
Take photos of every meter and utility reading. Water, gas, electricity. If there’s a dispute later about a bill, you have a record.
Don’t start any major projects in the first week. Live in the house first. The room you thought needed paint immediately might be fine. The room you didn’t think about might be the one you want to tackle first.
What Happens After Closing
A few things show up in the weeks after you close:
Your first mortgage statement — usually within 30 days. It’ll list your loan servicer, your payment amount, and where to send the payment. Your servicer might not be the same company that originated your loan; lenders sell servicing all the time. It’s normal.
Your recorded deed — mailed to you a few weeks after closing, once the county finishes processing.
A title insurance policy — also mailed to you. Keep this. It’s the policy that protects you against any future claim to ownership of the property.
Property tax mailings. Depending on when in the year you close, you may get a supplemental tax bill from San Joaquin County. This is normal; it’s the difference between what the previous owner was paying and what your new assessment will be.
And every so often, I’ll check in. Not to sell you anything. Just to make sure the home is treating you right.
Ready to Get to the Finish Line?
If you’re working through your buying process, whether you’re still saving for a down payment, in the middle of escrow, or staring at a Closing Disclosure right now and wondering if the numbers look right, let’s talk. I’ll walk you through what to expect on your specific timeline, what to look for at the walkthrough, and what closing day actually looks like in Lodi and the surrounding Central Valley. The first conversation costs you nothing.
Reach out anytime: jesserivas@kw.com
Jesse J. Rivas is a real estate agent based in Lodi, CA, serving buyers and sellers throughout the Central Valley and Contra Costa County. Before becoming an agent, Jesse personally bought and sold six homes, and brings that firsthand experience, along with a working knowledge of construction, to every client.
Final Underwriting: The Quiet Stretch Between “Contingencies Removed” and “Clear to Close”
Posted on May 17, 2026 Leave a Comment
Home Buyer Series — Part 5 By Jesse J. Rivas | Jesse Rivas Realty | Lodi, CA
In Part 4, we walked through inspections, the appraisal, and how to handle what comes back. Once you’ve worked through that, removed your contingencies, and signed off on repairs, the next stretch belongs almost entirely to your lender. It’s the quietest part of the process and the part where deals most often hit a last-minute snag if you’re not careful.
What Underwriting Actually Is
Underwriting is the lender’s final check before they hand over the money. An underwriter is the person at the bank whose job is to review every piece of your file, your income, your debts, your credit, your down payment, the property itself, and decide whether the loan is safe to fund.
Most buyers don’t realize this happens twice.
The first round happened back when you got pre-approved. That’s when the lender confirmed you generally qualify for the loan amount. The second round of final underwriting is much more thorough. They re-verify everything, review the appraisal and title report, and then issue what’s called a clear-to-close.
That second round usually takes 7 to 14 days, sometimes longer. It’s the part of the process where you feel like nothing is happening, and your phone goes quiet. That’s normal. Behind the scenes, a lot is happening.
What the Underwriter Is Actually Looking At
The underwriter is building a complete picture of three things: you, the property, and the loan terms.
On the buyer side, they’re verifying:
- Your income — pay stubs, W-2s, tax returns, and often a verbal verification of employment the day before closing
- Your assets — bank statements showing the funds for your down payment and closing costs, and where those funds came from
- Your credit — they’ll usually pull your credit again, sometimes the week of closing
- Your debts — any new accounts, balances, or payments since pre-approval
On the property side, they’re reviewing:
- The appraisal report
- The title report and preliminary title insurance
- The homeowner’s insurance policy you’ve selected
- Any HOA documents, if applicable
If anything looks off a deposit they can’t trace, a new credit inquiry, or a tax return that doesn’t match what was on the application, they’ll ask for an explanation.
“Conditional Approval” Doesn’t Mean You’re Done
Somewhere in the middle of underwriting, you’ll likely hear the term conditional approval. It sounds like good news, and it is, but it isn’t the finish line.
A conditional approval means the underwriter has reviewed your file and is willing to issue the loan if you provide a few more items. Those items are called conditions, and they can include things like:
- An updated bank statement
- A letter explaining a large deposit
- Proof that a debt has been paid off
- An updated homeowner’s insurance binder
- A signed and dated document they need
The faster you get conditions back to your loan officer, the faster you move toward clear-to-close. This is the stage where being responsive matters most. A 24-hour delay on your end can push closing out by a week.
How to Not Blow Up Your Loan at the Finish Line
This is the part I make sure every client hears, because it costs nothing to follow and it has saved deals more than once.
Between contingency removal and the day you sign, treat your finances like they’re frozen.
That means:
Don’t open new credit. No new credit cards, no financing the new fridge, no signing up for a store card to get 10% off. Every new inquiry shows up on your credit report and can change your debt-to-income ratio.
Don’t make large purchases. This is the big one, the new truck, the boat, the furniture set you’ve been waiting to buy. Wait until after you close. I’ve seen a loan fall apart over a $40,000 vehicle purchase the week before signing.
Don’t move money around. Big transfers between accounts, large cash deposits, or moving funds out of the account you used for pre-approval all create paper trails that the underwriter has to chase. If money has to move, talk to your loan officer first.
Don’t change jobs. If a career move is in motion, tell your lender before you sign anything new. Even a lateral move at the same pay can require re-verification.
Don’t co-sign anything. Co-signing a lease, a loan, or a credit application puts that debt on your report. You can do it next month.
The underwriter will pull a final credit report, conduct a final employment verification, and recheck your assets right before funding. The picture they see should look exactly like the one they saw at pre-approval.
The Rhythm of This Window
Here’s roughly how the final two to three weeks tend to play out.
Days 1–3 after contingency removal: Your lender re-orders or finalizes the appraisal (if it wasn’t already in), pulls updated documents, and submits your full file to underwriting.
Days 4–10: The underwriter reviews everything and issues a conditional approval with a list of conditions. You and your loan officer work through them.
Days 10–14: Conditions are cleared. The underwriter signs off. The lender issues a clear-to-close.
Final 3 days: You receive your Closing Disclosure, a federally required document that shows the final numbers for your loan. By law, you must receive this at least 3 business days before signing.
Signing day: You sit down with a notary or at the title company, sign the loan documents and the deed paperwork, and wire your remaining funds.
Funding and recording: The lender wires the money, the deed is recorded with the county, and the home is officially yours.
That last step recording is what most people think of as “closing.” In California, it usually happens the same day or the day after signing.
A Few Things Worth Knowing
Your lender is your partner in this stretch. A good loan officer is calling you, not the other way around. If yours is hard to reach during underwriting, that’s a flag.
Save every document. Even ones that seem redundant. Underwriters sometimes ask for things twice, and having them on hand keeps the process moving.
Plan for closing costs to shift slightly. The Closing Disclosure should be very close to the estimate you got at the start, but small adjustments are normal. If something looks dramatically different, ask before you sign.
Final walkthrough comes right before signing. We’ll do that together: confirm that any agreed-upon repairs were completed, that the home is in the condition you saw it in, and that nothing has changed.
The quiet is normal. No news from underwriting usually means good news. If something is wrong, your loan officer will know quickly.
Ready to Get to the Finish Line?
If you’re in the middle of escrow, heading into underwriting, or just starting to think about what your buying timeline looks like, let’s talk. I’ll walk you through what to expect, who you should work with on the lending side, and how to keep your file clean from pre-approval through keys in hand. The first conversation costs you nothing.
Reach out anytime: jesserivas@kw.com
Inspections, Appraisal & the Surprises Nobody Warns You About
Posted on May 7, 2026 Leave a Comment
The Part of the Process Most People Underestimate
When buyers picture the home-buying process, they tend to imagine two big moments: the offer getting accepted, and the day they get the keys. Everything in between feels like paperwork.
It isn’t.
The window between the accepted offer and closing is usually 30 to 45 days, during which the most important due diligence occurs. The home gets inspected. The appraisal comes in. Your loan goes through final underwriting. And every single one of those steps can surface something you didn’t see coming.
This is also part of the process where having someone in your corner who actually understands construction, what’s a real problem, what’s cosmetic, what’s worth pushing back on, makes a meaningful difference. So, let’s break it down.
What a Home Inspection Actually Is
A home inspection is a top-to-bottom evaluation of the property by a licensed inspector. They’re looking at the structure, the systems, and the safety of the home, not whether the paint is fresh or the kitchen is updated.
A general home inspection typically covers:
- Foundation and structure — cracks, settling, framing
- Roof — age, condition, signs of leaks
- Electrical — panel, outlets, wiring concerns
- Plumbing — supply lines, drains, water heater
- HVAC — heating and cooling systems, ductwork
- Windows, doors, and exterior — weather sealing, drainage
- Attic and crawlspace — insulation, ventilation, signs of moisture
- Appliances — basic operation of what’s included
The general inspector won’t open up walls, won’t move furniture, and won’t pull apart anything that isn’t already accessible. They give you a written report, usually 40 to 80 pages, with photos, observations, and recommendations.
You’ll typically have around 17 days from offer acceptance to complete inspections, though that timeframe is negotiable.
The Specialty Inspections Most People Skip — and Probably Shouldn’t
The general home inspection is the foundation, but it doesn’t cover everything. Depending on the home, the area, and what the inspector flags, there are several specialty inspections worth considering. Some of these are routine in the Central Valley. Some are situational. All of them are worth knowing about.
Sewer line inspection. A camera scope of the main sewer line from the home to the city connection. Most general inspectors don’t do this. In older Lodi neighborhoods, replacing a damaged sewer line can run $5,000 to $20,000 or more. For a few hundred dollars on the front end, it’s almost always worth it.
Pest and termite inspection. Often required for VA loans, and a good idea on any home with wood framing, which is almost all of them. They’re looking for active infestations, dry rot, and conducive conditions.
Roof inspection. If the general inspector flags concerns or the roof is more than 15 years old, getting a licensed roofer up there for a closer look is worth the time. They can give you a much clearer estimate of remaining life and repair costs.
Foundation inspection. If there are any signs of significant settling, cracking, or differential movement, a structural engineer can give you the truth. Foundation work is one of the most expensive repairs a homeowner can face; this is not where you want to guess.
HVAC inspection. Especially valuable in Lodi summers. A licensed HVAC tech can pull panels, check the refrigerant, and tell you how much life is left in the system.
Pool inspection. If the home has one, get it inspected separately. Pool repairs are surprisingly expensive, and general inspectors typically don’t go deep on equipment, plumbing, or surface condition.
Mold and air quality. If you see staining, smell anything off, or know the home has had water intrusion, this one is worth the cost.
The bottom line: A general inspection is your starting point, not your finish line. The specialty inspections are how you actually understand the home you’re about to buy. If something on the general report concerns you, dig deeper. The cost of a specialty inspection is almost always less than the cost of being surprised after closing.
What an Appraisal Is — and Why It Matters
An appraisal is an independent estimate of the home’s value, ordered by your lender and conducted by a licensed appraiser. It happens whether you ask for it or not, because the lender needs to know the home is worth what they’re lending against.
The appraiser looks at the home itself, its size, condition, features, upgrades, and recent sales of comparable homes in the area. They produce a report that, in effect, says that, based on the market, this home is worth this much.
Three things can happen with an appraisal:
1. It comes in at or above the purchase price. Best-case scenario. The deal moves forward, no adjustments needed.
2. It comes in below the purchase price — an “appraisal gap.” This is where things get real. If you offered $500,000 and the home appraises at $480,000, your lender will only lend against the $480,000. You now have a $20,000 gap to figure out.
3. The appraisal flags issues that affect lending. Sometimes, especially with FHA and VA loans, the appraiser will flag issues such as missing handrails, broken windows, peeling paint, or roof problems that must be repaired before the loan can close.
How to Handle an Appraisal Gap
If your appraisal comes in low, you have four real options. None of them are bad. They just have different trade-offs.
Option 1: Renegotiate the price. Take the appraisal back to the seller and ask them to come down to the appraised value. Sometimes they will. In a softer market, this often works.
Option 2: Meet in the middle. You and the seller each absorb part of the gap. The seller drops the price a bit, and you bring extra cash to closing.
Option 3: Cover the gap yourself. You bring the difference in cash. This is more common in competitive markets and only makes sense if you have the funds and the home is genuinely worth it to you.
Option 4: Walk away. If you wrote in an appraisal contingency, you can use it to back out and get your earnest money back. This is exactly why we don’t waive that contingency casually.
We’ll talk through which option makes sense based on your goals, the home, and what the comparable data is actually telling us.
The Surprises Nobody Warned You About
After six personal transactions and walking clients through the same, here are the things that catch buyers off guard most often. Knowing these in advance won’t make them disappear, but it will keep you from panicking when they show up.
Inspection reports look scary. Most homes are fine. A typical general inspection report flags 30 to 60 items. That sounds alarming until you realize half of them are minor: a loose outlet cover, a missing weather strip, a water stain that’s been dry for years. We’ll go through it together and separate the noise from the real issues.
The dollar amounts of “small” issues add up fast. On the flip side, five $500 fixes are $2,500. That’s real money. Pay attention even when individual items seem minor.
Sewer lines are the silent budget killer in older neighborhoods. Especially in homes built before 1980. If we don’t scope it, we’re guessing.
The HVAC system is older than you think. Sellers often don’t know the actual age of their furnace or AC. Pull the manufacturer date off the unit. A 20-year-old system is on borrowed time, and a replacement costs $8,000 to $15,000.
Appraisers are conservative right now. In a shifting market, appraisers tend to lean cautious. Plan for the possibility of a gap, especially for homes you’ve stretched to offer.
FHA and VA appraisals are stricter than conventional. If you’re using FHA or VA financing, the appraiser is also looking at health and safety items the seller may need to fix before closing. Build that into your timeline expectations.
The repair negotiation is a separate negotiation. After inspections, we’ll often go back to the seller with a request, repairs, a credit, or a price reduction. It’s not personal. It’s part of the process. Some sellers respond reasonably. Some don’t. We’ll have a strategy.
You can still walk away. Right up until you remove your contingencies in writing, you have the option to terminate the contract for reasons covered by your contingencies and get your earnest money back. Don’t forget this is the protection we built in for exactly this stage.
Step by Step: The Inspection & Appraisal Window
Here’s the rhythm of how this period typically plays out.
Step 1 — Schedule the general inspection (Days 1–3). We coordinate access with the listing agent and book the inspector. You’re welcome, and encouraged to attend, especially the last 30 minutes when the inspector walks through findings.
Step 2 — Order any specialty inspections (Days 3–10). Based on the general report and what we already know about the home, we line up sewer scopes, roof inspections, structural reviews, or anything else that makes sense.
Step 3 — Lender orders the appraisal (Days 5–14). Your lender handles this. The appraiser visits the home and submits their report a few days later.
Step 4 — Review reports together. We go through everything, the general inspection, specialty findings, and appraisal, and decide what’s worth bringing back to the seller and what isn’t.
Step 5 — Submit a Request for Repairs or credit (Days 14–17). We respond to the seller in writing with a clear ask. Repairs to be completed, a credit toward closing, a price reduction, or a combination.
Step 6 — Negotiate the response. The seller will accept, counter, or decline. We work through it the same way we worked through the original offer.
Step 7 — Decide on contingency removal. Once you’re comfortable with the inspections, the appraisal, and your loan progress, we’ll remove your contingencies in writing. This is a meaningful step — your earnest money becomes at risk after this.
Step 8 — Move toward closing. Final loan approval, final walkthrough, signing, funding, and recording. The home is yours.
A Few Things I Wish More Buyers Knew at This Stage
Attend your inspection if you can. A two-hour walkthrough with the inspector teaches you more about the home than any report can. You’ll know which valves to turn, where the breakers are, and what the inspector was looking at when they wrote what they wrote. I will be there with you!
Don’t fix-list a seller to death. Asking for every minor item back can sour the deal. We focus on what actually matters: safety, structure, big systems, and anything that surprises us.
Cosmetic is yours to handle. Functional is the seller’s. That’s a useful frame for thinking about repair requests. Paint colors, dated cabinets, old carpet, those come with the home. A failing water heater or unsafe electrical panel is a different conversation.
Get bids before you negotiate. When something serious comes up, having a real contractor estimate gives you leverage in the conversation. “The roof needs work” is weaker than “here’s a $14,000 bid from a licensed roofer.”
The appraisal is a snapshot, not the gospel. If it comes in low, we look at the comps the appraiser used and decide whether to challenge it, renegotiate, or move forward.
This part of the process is normal. Almost every transaction has a moment in this window where the buyer wonders if the deal is going to fall apart. Most of them don’t. We just have to work through it carefully.
Ready to Walk Through It With Someone Who Knows What to Look For?
If you’re under contract and heading into inspections, or you’re just starting to think about buying and want to know what to expect, let’s talk. I bring a working knowledge of construction to every transaction, what’s a real problem, what’s a punch-list item, and what’s just an inspector being thorough. The first conversation costs you nothing.
Reach out anytime: JesseRivas@KW.com
Jesse J. Rivas is a real estate agent based in Lodi, CA, serving buyers and sellers throughout the Central Valley and Contra Costa County. Before becoming an agent, Jesse personally bought and sold six homes and brings that firsthand experience, along with a working knowledge of construction, to every client.
⬅ Part 3: Your First Offer — What Happens After the Pre-Approval Part 5 Coming Soon ➡
Escrow Explained — What Happens Between Offer and Keys
Posted on April 29, 2026 Leave a Comment
By Jesse J. Rivas · Jesse Rivas Realty · Lodi, CA · April 29, 2026
In Part 3, we walked through writing your first offer — what goes into it, what contingencies protect you, and what happens when a seller responds. We ended at the moment your offer gets accepted.
That moment is exciting. It’s also the beginning of one of the most misunderstood phases of the home-buying process: escrow. Today, we’re breaking it all the way down.
So, What Exactly Is Escrow?
When your offer is accepted, you and the seller don’t just hand keys and money back and forth directly. That would leave too much room for things to go wrong. Instead, a neutral third party, the escrow company, steps in to manage the transaction from both sides.
Think of escrow as a secure holding zone. Your earnest money deposit goes in. The seller’s signed documents go in. Your lender’s loan funds go in. And nothing comes out until every single condition of the sale has been satisfied. Only then does the escrow officer release the funds to the seller and the title to you.
“Escrow protects both parties. The seller knows you’re serious. You know nothing changes hands until every condition is met. It’s the neutral ground that makes real estate transactions work.”
Who Is Involved in Escrow?
This is where first-time buyers often feel overwhelmed, suddenly there are a lot of names in your inbox. Here’s who you’ll be hearing from and what each person does:
| Person / Company | Their Role |
|---|---|
| Escrow officer | Neutral third party managing the transaction. Holds all funds and documents until closing conditions are met. |
| Title company | Researches the property’s ownership history to confirm the seller has the legal right to sell. Issues title insurance to protect you after closing. |
| Your lender | Completes the loan underwriting process and ultimately wires the loan funds to escrow on closing day. |
| Home inspector | Hired by you to inspect the physical condition of the property during the inspection contingency period. |
| Appraiser | Hired by your lender (not you) to confirm the home’s market value supports the loan amount. |
| Your agent | Coordinates communication between all parties, tracks deadlines, and advocates for you throughout the process. |
The Escrow Timeline — Day by Day
A typical escrow in California runs 30 to 45 days, though the exact length depends on your contract terms. Here’s how that time generally breaks down:
- Days 1–3 Earnest money deposit. You wire your earnest money deposit to the escrow company. This is typically 1–3% of the purchase price and shows the seller you’re committed. It counts toward your down payment at closing.
- Days 1–10 Home inspection. You hire a licensed inspector to evaluate the home’s condition — roof, foundation, plumbing, electrical, HVAC, and more. If the inspection reveals issues, you can request repairs, negotiate a price reduction, or, in some cases, walk away.
- Days 5–21 Loan underwriting and appraisal. Your lender orders a home appraisal, and their underwriting team reviews your full financial picture one final time. This is when they verify income, employment, assets, and confirm the home’s value supports the loan. Don’t make large purchases or change jobs during this period — it can jeopardize your approval.
- Days 5–30 Title search and seller disclosures. The title company researches the property’s history to confirm there are no outstanding liens, unpaid taxes, or ownership disputes. The seller is also required to provide disclosure documents covering everything they know about the property’s condition.
- Days 25–28 Final loan approval and closing disclosure. Your lender issues a final “clear to close” and sends you a Closing Disclosure — a detailed document showing every number associated with your transaction. Review it carefully. Compare it against the Loan Estimate you received at the start of the process and ask about any differences.
- Day 28–30 Final walkthrough. Before signing, you do a final walkthrough of the home — usually 24 hours before closing. This isn’t a second inspection. It’s a chance to confirm the property is in the same condition as when you made the offer, and that any agreed-upon repairs were completed.
- Closing day. Sign, fund, record, and get your keys. You sign your loan documents (a stack of them). You wire your remaining down payment and closing costs to escrow. Your lender wires the loan funds. The escrow officer releases the funds to the seller. The county records the deed in your name. Then your agent hands you the keys.
Good to know
In California, buyers and sellers typically sign closing documents separately; you don’t have to be in the same room as the seller. Some escrow companies even allow you to sign remotely. Ask your agent what the process looks like for your specific transaction.
Closing Costs — What to Expect
One thing that surprises a lot of first-time buyers: the down payment isn’t the only money you’ll need at closing. Closing costs are the fees and charges associated with finalizing the purchase, and they typically run between 2% and 5% of the loan amount.
| Cost | What It Covers |
|---|---|
| Loan origination fee | Your lender’s fee for processing and underwriting the loan. |
| Appraisal fee | Cost of the home appraisal ordered by your lender. Usually $500–$800. |
| Title insurance | Protects you (and your lender) against any title defects that weren’t caught in the title search. |
| Escrow fees | Charged by the escrow company for managing the transaction. Often split between buyer and seller. |
| Prepaid interest | Interest that accrues from your closing date to the end of that month. |
| Property taxes and insurance | Lenders typically require 2–3 months of taxes and homeowner’s insurance to be deposited into an escrow impound account at closing. |
“Your lender is required to give you a Loan Estimate within three business days of your application. That document breaks down projected closing costs. Read it closely — and ask questions if anything looks off.”
What Could Delay or Derail Closing?
Most escrows close on time. But it helps to know what can slow things down — so you’re not caught off guard if it happens to you.
1 Appraisal comes in low
You offered $520,000 but the appraisal says $495,000. Your lender will only lend based on the appraised value. That gap has to be resolved — through renegotiation, covering it out of pocket, or in some cases, disputing the appraisal.
2 Title issues surface
Unpaid liens, boundary disputes, or errors in past ownership records can slow or pause the process. Your title company works to resolve these, but it takes time.
3 Underwriting conditions
Your lender may issue a “conditional approval” requiring additional documents — a letter explaining a gap in employment, proof of gift funds, updated bank statements. Respond quickly to avoid delays.
4 Last-minute credit changes
Opening a new credit card, financing a car, or making a large purchase during escrow can change your debt-to-income ratio and trigger re-underwriting. Avoid any major financial moves until after closing.
The Moment You’ve Been Working Toward
There’s something that happens when escrow closes and your agent puts that key in your hand. All the paperwork, the waiting, the back-and-forth, it becomes concrete in a way that’s hard to describe until you experience it yourself.
That moment is worth understanding every step that leads to it. And now you do.
In Part 5, we’ll talk about what happens after you move in — your first year as a homeowner, what to prioritize, and how to start building equity from day one.
Questions about escrow or the closing process?
Every transaction is a little different. I’m happy to walk you through what it will look like for yours, no pressure, just answers. JesseRivas@KW.com
Jesse J. Rivas is a licensed real estate agent serving Lodi and the surrounding Central Valley. He specializes in helping first-time buyers navigate the home purchase process from start to finish.
Your First Offer — What Happens After the Pre-Approval
Posted on April 24, 2026 Leave a Comment
Home Buyer Series — Part 3
In Part 1, we covered why your credit score is the foundation of everything. In Part 2, we walked through the difference between pre-qualification and pre-approval — and why only one of them actually matters when it’s time to compete for a home. If you haven’t read those yet, start there.
Today, we pick up where most buyers have been waiting: you have your pre-approval letter. Now what?
You Have the Letter. Now the Real Work Begins.
Getting pre-approved is one of the best feelings in the home-buying process. You’ve done the financial work, you’ve been vetted by a lender, and you have a number. You’re ready to buy a home.
But here’s what nobody tells you: having a pre-approval letter is not the same as being ready to write an offer. There’s a gap between “I’m approved up to $X” and “I know how to put together an offer that gets accepted.” That gap is exactly what we’re going to close today.
Step One — Finding the Right Home (For Real, Not Just on Zillow)
Browsing online is fun. It’s also a little misleading. Listing photos are professionally staged. Square footage looks different in person. And in a market like Lodi and the Central Valley, the home you fall in love with on a Tuesday night might have an accepted offer by Thursday morning.
Once you’re pre-approved, your search gets serious. Here’s how to approach it strategically:
- Define your non-negotiables vs. your nice-to-haves. Bedrooms, location, school district, commute — decide what you actually cannot live without before you start touring. Emotion is powerful once you’re standing in a kitchen. Know your priorities before that moment.
- Set up real-time alerts, not daily digests. In a competitive market, checking listings once a day is too slow. Set up MLS alerts so you hear about new listings immediately. Ask your agent to flag anything that fits your criteria as soon as it hits.
- Think like a lender when you tour. A home must appraise at or above the purchase price for your loan to be approved. If something looks significantly overpriced for the area, that’s not just a negotiation point — it’s a financing risk. Keep this in the back of your mind as you tour.
- Tour quickly, decide thoughtfully. Don’t rush the decision — but don’t sleep on a home you love. The goal is to be ready to move when the right one shows up, not to scramble after the fact.
Understanding the Offer
When you find the one, the next step is writing an offer. This is where strategy matters as much as enthusiasm. A purchase offer is a legally binding document, and every line of it has meaning.
Here are the key components you’ll need to understand before you sign anything:
| Term | What it means for you |
|---|---|
| Purchase price | The amount you’re offering for the home. This may be at, above, or below list price depending on market conditions and comparable sales in the area. |
| Earnest money deposit | A good-faith deposit — typically 1–3% of the purchase price — that shows the seller you’re serious. It’s held in escrow and applied to your down payment at closing. If you back out for reasons not covered by a contingency, you may lose it. |
| Contingencies | Conditions that must be met for the sale to move forward. The three most common are the inspection contingency, the appraisal contingency, and the financing contingency. These protect you — understand what each one covers before you waive any of them. |
| Closing date | The date you’re proposing to take ownership. In California, 30 days is common, but sellers with specific timing needs may favor a buyer who can be flexible. |
| Included items | What stays with the home — appliances, window coverings, fixtures. Anything not explicitly included in the contract can walk out the door with the seller. |
“An offer isn’t just a number. It’s a package. Price matters, but so do terms, timing, and how clean the contract looks to the seller. A well-written offer at the asking price can beat a higher offer that’s messy.”
The Three Contingencies — And Why They Matter
Contingencies are your safety net. They give you legal ways to back out of a deal — or renegotiate — if something goes wrong. In a competitive market, you’ll hear pressure to waive them. Before you do, make sure you understand exactly what you’re giving up.
Inspection contingency: Gives you the right to have the home professionally inspected and, if significant problems are found, to negotiate repairs, request a price reduction, or walk away. Waiving this means you’re accepting the home as-is — whatever’s behind the walls included.
Appraisal contingency: If the home appraises for less than your offer price, this contingency lets you renegotiate or exit the deal. Without it, if the appraisal comes in low, you’re on the hook to cover the gap out of pocket — or lose your earnest money.
Financing contingency: Protects you if your loan falls through. Even with a pre-approval, final loan approval isn’t guaranteed until the lender has reviewed the property itself and confirmed nothing has changed on your end. This contingency gives you a clean exit if financing doesn’t come through.
Keep in mind
Waiving contingencies is a competitive strategy — not a routine move. In multiple-offer situations, sellers sometimes favor offers with fewer contingencies. That can make sense in the right circumstances, with the right guidance. But it’s a risk calculation, not a default. Talk through it with your agent before you decide.
What Happens After You Submit the Offer
You’ve submitted. Now you wait — though usually not for long. The seller typically has 24–72 hours to respond, and there are three possible outcomes:
- ✓They accept. Congratulations — you’re officially in contract. Escrow opens, your earnest money is deposited, and the clock starts on your contingency periods.
- ↔They counter. The seller liked your offer but wants to change something — price, closing date, or contingencies. A counter is not a rejection. It’s a conversation. Review it carefully with your agent and decide what you’re willing to agree to.
- ×They decline. It happens. In a competitive market, you may lose a home or two before you get one. It’s not a failure — it’s part of the process. The right one is still out there, and your pre-approval is still valid.
Once You’re in Contract — What Comes Next
Being “in contract” means both parties have agreed to the terms and the deal is moving forward — but it’s not done. Here’s what happens between accepted offer and closing day:
- Escrow opens. A neutral third party — the escrow company — holds your earnest money and coordinates the transaction. They’re the engine that keeps everything moving.
- Home inspection. Schedule this as soon as possible. A licensed inspector will walk through the property and give you a detailed report on its condition. This is your chance to understand exactly what you’re buying — not to find reasons to back out, but to go in informed.
- Appraisal.Your lender orders this. An appraiser visits the property and determines its market value. If it comes in at or above your purchase price, you’re clear. If it comes in low, your appraisal contingency gives you options.
- Final loan approval. Your lender reviews the property and confirms your financing. Keep your financial life stable during this period — no new accounts, no large purchases, no job changes.
- Final walkthrough. Usually 24–48 hours before closing, you’ll walk through the home one more time to confirm it’s in the agreed-upon condition and that any negotiated repairs have been made.6Closing day. You sign the final documents, the lender funds the loan, the title transfers to your name, and you get the keys. That’s it. You own a home.
“The period between accepted offer and closing is when most buyers feel the most anxious — and understandably so. There are a lot of moving parts. The best thing you can do is stay organized, respond quickly when your agent or lender needs something, and trust the process.”
A Few Things I Want Every Buyer to Know Before Their First Offer
Your first offer probably won’t be perfect — and that’s okay. There’s no substitute for the experience of actually going through the process. The buyers who succeed are the ones who stay patient, stay ready, and don’t let early setbacks shake them.
Communication is everything. Respond to your agent and lender quickly. In a real estate transaction, delays can cost you. Keep your phone close and your documents accessible during the escrow period.
Read everything before you sign it. I know the paperwork is extensive. Read it anyway. Ask questions about anything you don’t understand. This is likely the largest financial transaction of your life — you deserve to know exactly what you’re agreeing to.
Your agent is your advocate. A good agent isn’t just there to open doors. They’re there to negotiate on your behalf, flag red flags in a contract, read the market, and protect your interests throughout the transaction. That relationship matters.
Ready to Write Your First Offer?
Whether you’re already pre-approved or still working on your credit, let’s talk about where you stand and what the path forward looks like in Lodi and the broader Central Valley. The first conversation is free — and it might be the most valuable one you have.jesserivas@kw.com
Jesse Rivas Realty · Lodi, CA
Jesse J. Rivas is a real estate agent based in Lodi, CA, serving buyers and sellers throughout the Central Valley and Contra Costa County. Before becoming an agent, Jesse personally bought and sold six homes — and brings that firsthand experience to every client.
⬅ Part 2: Pre-Approval vs. Pre-Qualification: Why Your Credit Score Makes All the Difference
Part 4 Coming Soon: Escrow Explained — What Happens Between Offer and Keys ➡
Jesse Rivas Realty 
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