Offer to Closing Timeline
Highlights of Standard 30 Day Escrow
Day 1: Opened Escrow – Wire transfer 3% deposit into escrow account
Day 7: Seller has to have all disclosures and HOA docs to you we will have all the seller disclosures for you to review and sign at the inspection.
Day 8: Have a professional general inspection done by this time. You pay $1,500 on average.
The Lender will order the appraisal by this time –you pay approximately $500-$700.
Day 12: You have to sign off on inspection contingencies and all disclosures.
Day 17: Sign off on appraisal and loan contingencies when the lender has confirmed its okay to do so. At this point you are at risk of losing your 3% deposit if you can’t complete the sale.
Day 25-29: Do final walk through- make sure that the property is in the same condition as when you made the offer and that all repairs have been made if requested and agreed to.
Day 27: Deposit rest of down payment with escrow.
Day 29: Sale is funded.
Day 30: Record with the city– close escrow (usually late afternoon) Get your Keys!
*Additional buyer fees: 1 or 2 points to the lender and approximately .5 or 1 point for escrow fees.