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The Silicon Valley buyer playbook
How a California home purchase works, from the first lender call to the keys: what happens at each step, which forms and deadlines matter, and a contract clock that turns your acceptance date into real deadlines.
- offer formC.A.R. RPArevised December 2025
- deposit to escrow3 business daysafter acceptance, by default
- contingency period17 daysdefault in C.A.R. guides
- buyer agreement3 monthslongest term for individual buyers
the timeline
From accepted offer to keys
Most deadlines run from acceptance: the day the signed offer (or final counter offer) is accepted and delivered back. These are the default periods in C.A.R.’s purchase agreement guides; the dates written into your contract are the ones that count.
Defaults from C.A.R. guides for recent versions of the Residential Purchase Agreement; the December 2025 form may differ, and some guides show a longer loan contingency. Contingencies don’t end on their own: they stay in place until removed in writing, and a seller’s Notice to Buyer to Perform gives 2 days to act.
contract clock
Your contract clock
Enter your acceptance date and the periods in your contract. The clock counts calendar days (business days for the deposit) and puts every deadline on a calendar.
your key dates
Weekends are skipped for the business-day deposit count; legal holidays aren’t. Check your contract for how deadlines that land on a weekend or holiday are handled, and confirm every date with your agent and escrow officer.
step by step
Seven steps to a Silicon Valley purchase
- step01
Get pre-approved and know your number
Before touring, a lender reviews your income, assets and credit and commits, conditionally, to a loan amount. Sellers expect a pre-approval with an offer.
- Compare Loan Estimates from more than one lender: rate, points and closing costs side by side
- Know the 2026 loan limits: $832,750 baseline and up to $1,249,125 in high-cost counties; larger loans are jumbo loans with their own rules
- Discount points lower the rate for an upfront fee (one point is 1% of the loan) and pay off only if you keep the loan long enough
- With less than 20% down on a conventional loan, expect private mortgage insurance
property nerd tipRun the payment and affordability calculators with your lender’s actual quote, and settle on a comfortable monthly number before you fall for a house. - step02
Choose your agent and sign the buyer agreement
California law requires a written buyer representation agreement no later than when you make an offer, and since August 2024 REALTORS ask buyers to sign one before touring a home.
- The agreement spells out services, term and how the buyer’s broker is paid; compensation must be clearly stated, not open-ended
- For individual buyers, the term can run no longer than 3 months, with no automatic renewal
- You’ll also get the agency disclosure, which explains who the agent represents
- Every agreement states that commissions aren’t fixed by law
property nerd tipCommissions are negotiable, and we offer bundled services, so ask us what’s included. - step03
Search with local data
Narrow the search by what matters day to day: commute, school district, home style and price per square foot, not just bedrooms.
- Market Pulse shows what’s for sale in each city right now, how long it’s sitting and where sale prices have gone
- Compass Private Exclusives and Coming Soons can show homes before they reach the MLS
- School district guides and neighborhood guides for every city we cover
- Shared Collections keep your favorites, notes and new matches in one place
property nerd tipCheck the school district for the exact address, not the city name: in Silicon Valley, district lines don’t follow city lines.Market PulseSilicon Valley SchoolsNeighborhood guidesHome styles
- step04
Write a strong offer
Offers in California are written on the C.A.R. Residential Purchase Agreement, revised in December 2025. Price matters, and so do the terms.
- Read the seller’s disclosures and any inspection reports before you write, when the seller shares them up front
- Choose your contingencies and their lengths: investigation, appraisal and loan
- Set the deposit: it goes to escrow within 3 business days of acceptance by default and counts toward the price
- If both sides initial the liquidated damages clause, the seller can keep the deposit if you default; for a 1-4 unit home you’ll live in, up to 3% of the price is presumed valid
property nerd tipAsk us for the comps and the list-to-sale price ratio for similar homes nearby before you set a price; a citywide median won’t tell you what this house will take. - step05
Open escrow and work the contingencies
Once your offer is accepted, escrow opens with a neutral holder (in Northern California, usually a title company) and the clock starts.
- Deliver the deposit within 3 business days
- The seller delivers disclosures, including the Transfer Disclosure Statement, Seller Property Questionnaire and Natural Hazard Disclosure, within 7 days by default
- Inspect: a general home inspection, a wood-destroying pest inspection and anything the reports point to
- Review the preliminary title report, HOA documents if any, and the lender’s appraisal
- Remove each contingency in writing when you’re satisfied, or ask for repairs or credits with a Request for Repair
property nerd tipIf a required disclosure like the TDS arrives after you sign, you get 3 days (5 if mailed) to cancel. And watch the calendar: contingencies don’t lapse on their own, but a Notice to Buyer to Perform gives you only 2 days. - step06
Lock the loan and line up insurance
Your lender orders the appraisal, finishes underwriting and sends the Closing Disclosure before closing so you can compare it with the Loan Estimate.
- A rate lock holds your rate for a set period, often 30 to 60 days, if your application doesn’t change
- Get homeowners insurance quotes early; lenders require coverage before funding
- Homes in a FEMA Special Flood Hazard Area usually need flood insurance; the Natural Hazard Disclosure says whether yours is in one
- Keep your finances steady until closing: no new credit and no large unexplained deposits
property nerd tipMatch the lock length to the close date in your contract, with a few days to spare. - step07
Walk through, sign and close
Close of escrow is the day the deed records and you become the owner.
- Final verification of condition: a last walk-through to confirm the home’s condition, agreed repairs and included items
- Sign the loan and escrow documents; the lender funds, escrow records the deed, and the seller is paid
- Property taxes and HOA dues are prorated to the closing date
- Expect a supplemental property tax bill months later for the jump from the seller’s assessed value; closings from January through May bring two
property nerd tipSet aside cash for the supplemental bill now. The property tax calculator estimates it from the seller’s assessed value.
questions
Questions we hear
How long does escrow take?
There’s no fixed length: the purchase agreement sets the close-of-escrow date, and the timeline depends on financing, the contingency periods and what buyer and seller agree to. We’ll map it out with your lender before you write.
Do I need a buyer agreement before touring a home?
Since August 2024, REALTORS ask buyers to sign a written agreement before touring, and California law requires one no later than when you make an offer. For individual buyers it can’t run longer than 3 months.
Which contingencies should I keep?
It depends on the home and the competition. The investigation, appraisal and loan contingencies protect your deposit; waiving one shifts that risk to you. We’ll go through the trade-offs for each offer.
How much is the deposit?
The purchase agreement doesn’t set an amount; you and the seller agree on it. It goes to escrow within 3 business days of acceptance by default and is credited to your price at closing.
What is the supplemental tax bill?
After you buy, the county reassesses the home at its value on the closing date and bills the increase over the seller’s assessed value for the rest of the fiscal year (July through June). A closing from January through May brings a second bill for the next full year.
Who pays transfer tax and title insurance?
By local custom in Santa Clara County, the seller pays the county transfer tax, the escrow fee and the owner’s title policy, and buyer and seller split any city tax. In San Mateo County and San Francisco, the buyer usually pays the escrow fee and the owner’s policy. All of it is negotiable.
more to learn
Keep going
- Seller playbookThe same walk-through from the seller’s side.
- Real estate calculatorsPayment, affordability, transfer tax, Prop 13 and rent vs buy.
- Market PulseLive listings and 12 months of sale prices for every city we cover.
- Real estate glossaryEvery term in this playbook, defined.
- Compass + Boyenga toolkitEarly access, Collections and financing perks.
- Buy with the Property NerdsHow we help buyers win in Silicon Valley.
General information about California practice, not legal, tax or lending advice. Default deadlines come from C.A.R. purchase agreement guides; your signed contract controls. Checked October 15, 2026.
talk to a property nerd
Ready to start your search?
Tell us where and when, and we’ll build the plan with you: the numbers, a search tuned to your list, and a strategy for the offer. Commissions are negotiable, and we offer bundled services, so ask us what’s included.
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