What happens after a buyer submits an offer on my home?

You review it with your agent and decide whether to accept, reject or counter. An offer is more than a number. It sets a proposed closing date, the earnest money deposit, which contingencies the buyer keeps — typically inspection, appraisal and financing — how long each contingency lasts, who pays which costs, and a deadline for you to respond.

If you counter, the buyer can accept, reject or counter again, and there is no binding contract until both sides sign the same terms. Once you accept, the transaction moves into escrow: the buyer’s deposit goes in, inspections happen, the buyer’s lender orders an appraisal, and you deliver the disclosures California requires for most residential sales. Requests for repairs or credits may follow the inspection.

Terms, timelines and outcomes vary with the contract, the property and the buyer, which is why reading the whole offer matters as much as reading the price.