How a transaction actually runs
Offer to keys, with the real clock — and an honest account of what usually slips, because something usually does.
Most people go through this two or three times in a lifetime. The anxiety in a transaction is rarely about the money; it's about not knowing what's supposed to happen next, or whether the silence this week means something has gone wrong.
So here is the shape of it. Timelines below are the common defaults in the California Residential Purchase Agreement — they are defaults, not law, and every one of them is negotiable. In a competitive situation buyers routinely shorten them, and that shortening is itself part of the offer.
The clock
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Offer and counter — days, sometimes hours
You write, they respond. Counters go back and forth. Nothing is binding until both sides have signed the same document and it has been delivered. "We accepted your offer" in a phone call is not acceptance.
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Acceptance, and the clock starts — day 0
Every deadline in the contract counts from acceptance. Escrow opens, and the buyer's initial deposit goes to the escrow holder — not to the seller.
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Seller disclosures — usually within 7 days
The seller delivers the disclosure package. This is the most important reading a buyer does and the most commonly skimmed. What's in it, and what to look for →
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Inspections — inside the investigation period
General home inspection first, then specialists if it turns something up: roof, sewer lateral, foundation, pest, pool, electrical. The buyer pays. Book the general inspection within the first few days, because the specialists you might need are booked out and the period does not pause while you wait for them.
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Appraisal — ordered by the lender, arrives when it arrives
The lender orders it; the buyer pays for it. It is not an inspection and it is not for the buyer's benefit — it exists to protect the lender's collateral. If it comes in below the contract price, the loan is sized to the lower figure and someone has to cover the difference or the price gets renegotiated.
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Request for repairs, and the negotiation nobody warned you about
After inspections, the buyer may ask for repairs or a credit. This is a genuine second negotiation and it can be harder than the first, because now both sides have sunk time in and both know it.
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Loan approval — commonly a 17-day contingency, often longer in reality
Underwriting asks for documents. Then it asks for more. Answer everything the same day — this is the single biggest thing a buyer controls, and delay here is the most common cause of a late closing.
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Contingencies released
In California, contingencies do not expire on their own. They are removed actively and in writing. Until the buyer removes them, they remain. Once removed, the deposit is genuinely at risk — that is the moment the transaction changes character, and I make sure my clients know exactly when it arrives.
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Loan documents, signing and funding — the last few days
Docs go to escrow, the buyer signs with a notary, the lender funds. Do not change jobs, open a credit card, or buy a car in this window. Lenders re-check.
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Recording, and keys
The deed records with the county. That is the actual moment of ownership — not signing, not funding. Keys usually follow the same day.
What usually slips
In roughly this order of frequency:
- The loan. An underwriter asks for one more document, on a Thursday, and the week goes. Almost always recoverable, and almost always the reason a closing moves by a few days.
- The appraisal. Either scheduling it, or the number it comes back with.
- Repair negotiations. Not because the items are large, but because they arrive when both sides are tired.
- HOA documents. On a property in an association, the document package can be slow to arrive, and the buyer's review period may depend on receiving it. Order it early.
Almost none of these kill a transaction. They move dates. The reason they feel catastrophic is that nobody warned you they were normal.
What I do about it
I tell you which deadline is next and what it means, before it arrives rather than after. When something slips, you hear it from me the day I know — not at the end of the week, and not as a surprise on the day you were expecting to move.
That is a low bar. It is also the thing clients most often tell me was missing last time.
This is general information, not legal or tax advice. It reflects how transactions commonly run in San Diego County, and general practice is not the same as your situation. For anything consequential, talk to a real estate attorney or a CPA. I'll tell you when I think you need one — that's part of the job.