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The Life of an Escrow

Posted by: raindrop 8 years, 9 months ago


The Life of an Escrow: My offer was accepted, now what?

Obtaining an offer on a home is just the first step in the real estate transaction.  Below is a typical timeline for a real estate purchase in California.  The timeline assumes a 30 day escrow with a buyer obtaining a loan.  Keep in mind that nearly all of the terms below are negotiable prior to opening escrow.  Also remember, that nearly all of the deadlines can be completed sooner than the timeline listed below.

Day 1:

  • Listing Agent opens escrow.
  • Escrow begins preparing escrow instructions and pertinent documents.

Day 3:

  • Buyer deposits their Earnest Money Deposit (EMD) to escrow.
  • Listing Agent or Escrow requests Home Owners Association (HOA) Documents, if applicable, from the HOA Management Company or HOA President.
  • Listing Agent orders Termite Inspection, if required by the contract.
  • Lender orders appraisal.
  • Escrow orders a Preliminary Title Report.

Day 7-17:

  • Seller delivers all disclosures to Buyer.
  • Buyer reviews disclosures.
  • Buyer orders Physical Home Inspection.
  • After Physical Home Inspection, Buyer orders any other desired inspections.
  • Buyer reviews Preliminary Title Report.
  • Escrow requests payoff demands, i any and clear any liens from the Preliminary Title Report.
  • Buyer and Seller submit Statement of Identity's to title to ensure clear title.
  • Lender receives appraisal report.
  • Buyer verifies insurability.
  • Lender sends escrow loan approval
  • Buyer and Seller agree on any repairs to be completed.

Day 17:

  • Buyer to remove all contingencies 

Day 25:

  • Buyer completes final verification of property condition to make sure the home is in the same condition as when escrow was opened

Day 27:

  • Buyer to sign all loan documents and send back to the lender
  • Lender to fund loan
  • Buyer to deposit remaining cash needed to close

Day 28:

  • Escrow receives authorization for recording.

Day 29:

  • Escrow sets up the file for recording

Day 30:

  • Escrow closes and grant deed is recorded
  • Escrow finalizes paperwork and distributes funds as appropriate

For more information about purchasing a home in San Diego, contact Kate at (619) 933-5319 or




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