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What To Expect Once In Escrow

Sample 30-day escrow with loan and standard terms and conditions on Fee Simple land:

  Buyer presents offer with proof of funds and lender pre-approval

  Negotiation between seller and buyer

  Offer accepted, the next day is day 1 of contract

  Escrow is open – escrow contacts both seller and buyer with escrow instructions usually within two business days

  3rd business day buyer’s Earnest Money Deposit is due

  Day 7 of contract seller disclosures are due to buyer

  Day 17 of contract buyer’s inspection and bank appraisal contingency release is due

  Day 21 of contract buyer’s loan approval contingency release is due

  Day 30 of contract close of escrow and property conveys once title is recorded (must be a business day)

**Notes: (1) Escrow may be less than 30 days if purchase is all cash (2) Escrow may be up to 15-20 business days longer if on leased land (3) Escrow may be up to 10 business days longer if sale requires HOA consent