BUYING A HOME
FINDING YOUR NEXT HOME
Buying a home is one of the few decisions where the stakes are high, the process is unfamiliar, and everyone around you has an opinion. We think the best thing we can do is give you straight information and let you move at your own pace.
Whether you’re buying for the first time, trading up, or adding to a portfolio — the market looks different depending on where you are in that journey.
First Time Buying
The first purchase is less about finding the perfect home and more about understanding what you’re actually deciding. Neighborhood trade-offs. What the inspection is really telling you. How to write an offer that competes without stretching past what makes sense.
We’ve helped thousands of first-time buyers in Portland. We know what surprises people and we get ahead of it.
Moving Up
If you’re selling one home to buy another, the sequencing matters as much as the search. Timing, contingencies, bridging the gap between closing dates — these are solvable problems, but only if someone’s thinking about them early.
Investing
Portland’s neighborhood dynamics create real opportunity for investors who understand the market at a granular level. Cap rates, rental demand, and resale potential vary significantly from one zip code to the next. We have a primer on buying investment property if you want to start there.
Relocation
Relocation can be an exciting and emotional time. Moving for career reasons may mean leaving the comfort of home for states or countries unknown, leaving friends and family, and creating new routines that were simple and familiar. Read more details on our relocation services here.
A note on how buying works now
The home buying process changed in 2024. Before touring homes with an agent, buyers now sign an agreement outlining how that agent is compensated. It sounds more complicated than it is — we’ll walk you through it clearly before you sign anything, and make sure you understand exactly what you’re agreeing to.
Frequently Asked Buyer Questions
What are the steps from pre-approval to closing?
The process runs roughly like this: get pre-approved with a lender → define your search criteria with your agent → tour homes → write an offer → negotiate terms → sign the purchase agreement → complete inspections during the due diligence period → satisfy financing conditions with your lender → final walk-through → sign closing documents → receive keys. In Portland, a typical financed transaction takes 30 days from accepted offer to closing. The biggest variables are your lender’s timeline and how quickly you respond to document requests.
What is earnest money and can I get it back?
Earnest money is a good-faith deposit you submit with your offer, showing the seller you are serious. In the Portland metro, one to two percent of the purchase price is typical. It gets applied toward your down payment or closing costs at closing — it is not an additional cost. During the inspection period and financing contingency period, you have specific rights to terminate and recover your earnest money. Your agent will walk you through exactly when and under what conditions you are protected. Once contingencies are removed, the deposit is generally at risk if you back out without a valid reason.
What does a buyer's agent actually do?
More than most people realize until they are in the middle of a transaction. Before the search: help you understand what you can realistically buy, which areas match your priorities, and what the market is actually doing. During the search: identify properties, provide honest assessments of value and condition, and keep you from falling in love with a home that has problems you cannot see. During the offer: advise on pricing strategy, contingencies, and terms that protect you without losing the deal. After acceptance: manage the inspection process, interpret what the findings mean, negotiate repairs or credits, coordinate your lender, title company, and escrow, and make sure the closing timeline stays on track.
What happens during a home inspection — and what is specific to Portland?
A licensed inspector spends two to three hours examining the home’s structure, systems, and condition: roof, foundation, electrical, plumbing, and HVAC. You will get a detailed report. In Portland specifically, there are inspection items that come up regularly that buyers from other markets are not expecting:
- Oil tanks: Many Portland homes built before 1970 were heated by oil. Decommissioned underground oil tanks are common and a big deal — contaminated soil can cost tens of thousands to remediate. A tank sweep (ground-penetrating scan) should be standard on any older home.
- Sewer scope: Portland’s older sewer laterals (the pipe from house to main) frequently have root intrusion, cracks, or deteriorated material. A sewer scope camera inspection is a relatively inexpensive ($150–$300) way to find an expensive problem before you close.
- Radon: Oregon has elevated radon levels in some areas. Testing is simple and mitigation is relatively affordable if it is needed.
- Seismic: The Cascadia Subduction Zone is a real consideration. Unreinforced masonry homes and older homes without seismic bolting are worth noting.
We will help you understand which specialists to call based on what the general inspection finds.
What is a buyer representation agreement?
Since 2024, buyers are required to sign a buyer representation agreement before touring homes with an agent. This agreement outlines how the agent is compensated — typically a percentage of the purchase price — and for how long and what geography the agreement covers. It sounds more formal than it actually is. We will walk you through it before you sign anything and make sure you understand exactly what you are agreeing to. The compensation is often covered by the seller as part of the transaction, but it is a real number that gets disclosed clearly.
How do I compete in a multiple offer situation?
It depends on the specific property, seller, and market conditions — there is no universal answer. The tools available to you include price, escalation clauses, down payment size, inspection contingency terms, closing timeline flexibility, and earnest money amount. Escalation clauses can be effective but also reveal your ceiling to the seller in some formats. Shortening or waiving inspection contingencies carries real risk and should only be done with eyes wide open. We will advise on the right approach for each specific situation rather than applying a blanket strategy. Sometimes the answer is simply that a property is priced below market and will get multiple offers no matter what — and the right move is to bid aggressively or pass.
How does the Portland market vary by neighborhood and price point?
Significantly. In the same month, you might see a $450,000 inner SE home go to multiple offers in four days and a $1.2M West Hills home sit for 60 days. Factors that drive competition in any given area: proximity to employment centers, school quality and boundaries, condition relative to price, and neighborhood investment trajectory. Some Portland neighborhoods are appreciating; others are flat or declining. We will give you a specific read on any area you are considering rather than a generalization.
Do I need to sell my current home first before buying?
Not necessarily. The right answer depends on your equity position, your lender’s guidelines, and your risk tolerance. Options include: sell first and buy in a compressed timeline (more certainty, more pressure), buy simultaneously with a home sale contingency (fewer competing offers will accept this), bridge financing to carry both for a short period, or sell to a cash buyer to close faster and negotiate a rent-back period. Each has trade-offs. We will walk you through the realistic options for your specific financial situation before you assume you have to sell first.
What are closing costs and what should I expect to pay?
Closing costs on the buyer side typically run two to three percent of the purchase price and cover: lender origination fees, title insurance (both for the lender — required — and for you, which is highly recommended), escrow fees, prepaid property taxes, and homeowner’s insurance. Your lender is required to provide a Loan Estimate early in the process that breaks all of this down. Cash transactions have significantly lower closing costs since the lender title insurance policy does not exist. We will help you read the Loan Estimate and flag anything that looks off.
How long does it take to close?
Thirty days is the Portland norm for a financed transaction. Twenty-one days is fast; forty-five days is slow. Cash transactions can close in as little as a week. The timeline is driven primarily by your lender — the best thing you can do is respond quickly when they request documents and stay available for questions. Every day of delay on your end typically means a day of delay at closing.