05 Escrow Process

(Life of an Escrow: 30 & 45 day escrow period)

Day 1 Once offer is accepted, escrow is officially open and the clock begins on contingencies*

Day 2 Contact your insurance agent for homeowners coverage

Day 3 Initial deposit is due per terms of agreement Day 1–17 Seller delivers disclosures to buyer. Buyer performs inspections (Step 6)

Day 1-21 Loan is in underwriting and appraisal occurs (Step 7)

Day 7-30 | 21–45 Seller signs grant deed and staging is removed, if any (Step 7) End of Escrow Within final week of escrow period, buyer signs loan and closing documents and wires in closing funds (Step 10)

Day 30-45 Loan funds and escrow closes (recordation)

*This escrow process is based on a standard 30– 45 day transaction

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