How the California escrow process looks
1
DAY 1: OFFER
The buyer and seller agree on a purchase price. The home closing process has begun!
2
WEEK 1: ESCROW OPENED
Earnest money by the buyer into the newly opened escrow account.
3
WEEK 1+: INSPECTIONS BEGIN
May include termite, agent visual, home, lender appraisal inspections.
4
WEEK 2: REPAIRS NEGOTIATED
All negotiations or requests resulting from inspection results happen now.
5
DAY 17: CONTINGENCY RELEASES
Get your pen or DocuSign ready! Contingency releases involve signing paperwork.
6
DAY 21: LOAN APPROVAL
The buyer must get the loan approved from the appraisal to ensure they will be able to secure the funds for closing.
7
DAY 22: REPAIRS BEGIN
The seller will have the necessary repairs carried out, ensuring the house is in the agreed upon state when the sale is complete.
8
WEEK 4: FUNDING SECURED
The appraisal has been completed and the buyer can officially finalize securing of funds for the purchase.
9
<5 DAYS TO CLOSE:
FINAL WALK-THROUGH
An optional walk through is offered to the buyer at this point.
10
FINAL DAY: CLOSE OF ESCROW!
The title passes from the seller to the buyer. The buyer gets the keys and the seller receives the money for the sale.
