Step-by-Step: The Home Buying Process in Oregon From Offer to Keys

Your offer was just accepted. Now what?

The time between mutual acceptance and picking up your keys is typically 30 to 45 days in Oregon — but each week of that timeline has something specific happening. If you know what to expect, you can stay ahead of it. If you don't, it's easy to feel like things are moving too fast or stalling out for no reason.

Here's how it actually works, step by step.

 

Step 1: Earnest Money — Due Within 3 Business Days

The moment your offer is accepted, you'll hear one phrase almost immediately: earnest money.

In Oregon, earnest money is typically due within three business days of mutual acceptance. It's deposited into an escrow account held by a neutral third party — usually a title company — and it signals to the seller that you're committed. Standard amounts run 1–3% of the purchase price, so on a $546,000 home (Canby's median sale price as of March 2026 per Redfin), that's roughly $5,500 to $16,400.

This money isn't just handed over and forgotten — it applies toward your down payment and closing costs at closing. But it can be at risk if you back out without a valid contractual reason, which is exactly why contingencies matter.

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Step 2: The Inspection Period (Days 1–10)

Oregon's standard purchase agreement gives buyers an inspection period — typically 10 business days from mutual acceptance. This is the most active stretch of the transaction.

During this window, you're scheduling and attending your home inspection (plan on 3–4 hours, and your presence is worth it), and deciding which additional inspections make sense. For homes in South Clackamas County and the Willamette Valley, the most common add-ons are a sewer scope ($150–$200 when bundled), a radon test ($150 when bundled), and an oil tank sweep if the property is pre-1980 ($150–$175). Older homes near the river may warrant a crawlspace moisture assessment.

At the end of the inspection period, you have three options: proceed as-is, submit a repair addendum requesting fixes or a credit, or cancel and get your earnest money back. The inspection period is your clearest off-ramp in the process — once it closes, exiting gets harder. Don't let the excitement of being under contract rush you through it.

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Step 3: Appraisal and Loan Underwriting (Days 10–25)

Once inspections are resolved, your lender orders an appraisal. The appraiser is an independent third party who evaluates the home's market value against recent comparable sales — lenders won't fund a loan for more than the appraised value.

If the home appraises at or above the purchase price, underwriting moves forward. If it comes in short, you have options: renegotiate the price, pay the difference in cash, or (if you have an appraisal contingency) cancel and recover your earnest money. Per the Oregon Realtors' 2026 Buyer Advisory, typical contingency deadlines are 17 days for appraisal, 21–30 days for financing, and 5 days for title review — though these are negotiated in your specific contract, not fixed rules.

Meanwhile, your lender is grinding through underwriting. Your loan processor may request updated bank statements, clarification on a deposit, or proof of employment. Respond fast. Every day of delay in underwriting can push your closing date.

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Step 4: Title Review and Homeowner's Insurance (Days 10–20)

Two things happen in parallel with underwriting that buyers often underestimate.

The title company runs a title search to confirm the property can legally be transferred to you — free and clear of liens, unpaid taxes, judgments, or ownership disputes. You'll receive a preliminary title report with a five-day review period. Read it. Most of the time it's clean, but occasionally there's an item worth discussing with your agent before waiving the contingency.

Your lender will also require proof of homeowner's insurance before funding the loan. Get quotes early — ideally as soon as you're under contract. Oregon homeowner's insurance rates vary by location, age of home, and coverage level, and some insurers have tightened their criteria for older roofs or properties near wildland-urban interfaces. Don't wait until day 25 to start shopping.

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Step 5: Final Walkthrough and Signing (Days 28–45)

A day or two before closing, you'll do a final walkthrough. This isn't a second inspection — it's a verification. You're confirming the home is in the same condition it was when you wrote the offer, that any agreed-upon repairs were made, and that the sellers have cleared out.

Then comes signing. Oregon is an escrow state, meaning a neutral title company handles the closing — not an attorney. You'll sign your loan documents and closing disclosures with a notary, often a day before the actual closing date. Your lender funds the loan, the title company records the transfer with the county, and the keys are yours.

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What Does It Actually Cost to Buy in Oregon?

Buyers often focus so much on the down payment that closing costs catch them off guard.

According to Rocket Mortgage data (February 2026), Oregon buyers typically pay around 2.83% of the purchase price in closing costs. On a $546,000 home, that's roughly $15,400 on top of your down payment. That number covers loan origination fees (typically 0.5–1% of the loan amount), the appraisal ($600–$900), title insurance and escrow fees, prepaid homeowner's insurance and interest, and county recording fees.

One Oregon-specific note worth knowing: there is no state real estate transfer tax in Oregon. That's a meaningful difference from states like Washington or California, where transfer taxes can add thousands to the closing tab.

Current rates as of April 16, 2026: the 30-year fixed mortgage averaged 6.30%, down from 6.83% a year ago, per Freddie Mac's Primary Mortgage Market Survey. That improvement is real — and it's part of why spring 2026 has seen renewed buyer activity across South Clackamas County.

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What the Local Market Looks Like Right Now

If you're buying in Canby, here's the current picture.

Redfin's March 2026 data shows a median sale price of $546,000, up 7.3% year over year. Homes are averaging 22 days on the market — significantly faster than the 109-day average from earlier this year — and the typical home receives about two offers. Competition is real but not frenzied.

What this means practically: the inspection period and contingency deadlines matter. In a market where homes move in three weeks, sellers expect a clean, organized transaction. Going in pre-approved, with a solid earnest money deposit and a clear inspection plan, makes you a more credible buyer from day one.

For buyers considering Oregon City, Wilsonville, or other cities in the area, the broader picture holds: spring 2026 is active, inventory remains lean, and mortgage rates near 6.30% are meaningfully better than a year ago.

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What This Means for You

The Oregon home buying process isn't complicated — but it's compressed. Thirty to 45 days moves fast when you're working and making six-figure decisions. Here's what actually makes the difference:

Know your numbers before you write an offer. Get pre-approved (not just pre-qualified), run the full closing cost math with your lender, and confirm your actual cash-to-close figure.

Respond to your lender immediately. Underwriting delays almost always trace back to slow document responses. Treat requests like they have a same-day deadline.

Don't skip the inspection. Oregon sellers are required to complete a property disclosure statement (ORS 105.465), but disclosure doesn't catch everything. A licensed inspector is your independent set of eyes.

The final walkthrough isn't optional. That's the moment to confirm repairs and verify condition before ownership transfers. Easy to skip when you're excited — don't.

The mechanics are the same whether you're buying in Canby, Oregon City, or Wilsonville — but local pricing norms, inspection expectations, and timeline realities are worth talking through with someone who works this market every day.

Explore homes in Canby and surrounding areas →

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Jennifer Schurter serves buyers, sellers, and investors throughout South Clackamas County and the North Willamette Valley — including Canby, Oregon City, Wilsonville, Aurora, Hubbard, Molalla, Woodburn, Newberg, Sherwood, Tualatin, West Linn, Lake Oswego, and the greater Portland metro south. Her goal is simple: to be the most knowledgeable, most responsive, and most genuinely helpful real estate agent in the area — every single time. Jennifer is a licensed Oregon real estate broker with Real Broker LLC.

Have questions or want to get started? Connect with Jennifer here. She'd love to hear from you.