Congratulations—your offer was accepted! But what exactly happens between “Offer Accepted” and “Keys in Hand”? In California, we use a neutral third party called Escrow to ensure everyone does what they promised.
Here is the “General Roadmap” of the 30-45 days you’ll spend in escrow:
1. The Earnest Money Deposit (EMD)
Within the first few days, you’ll “put your money where your mouth is” by sending a deposit (usually 1-3% of the price) to the escrow company. This shows the seller you are a serious, committed buyer.
2. The Contingency Period
This is the “investigation” phase. You’ll perform your home inspections, the bank will perform an appraisal, and your lender will finalize your loan. As your advocate, my job is to ensure we meet every deadline so your deposit is never at risk.
3. Disclosures and Title Search
The seller will provide a mountain of paperwork disclosing everything they know about the home. Simultaneously, a title company will search the history of the property to ensure there are no “hidden” liens or ownership disputes.
4. Signing and Funding
Once all contingencies are “cleared,” you’ll sign your final loan documents with a notary. You’ll send your remaining down payment to escrow, and your lender will “fund” the loan.
5. Recording and Keys
Once the county records the deed in your name, it’s official! That is the moment I get to call you with the best news of the journey: “The keys are ready!”
The Bottom Line: Escrow has a lot of moving parts, but you don’t have to manage them. I provide a “service-first” concierge experience, tracking every document and deadline so you can focus on the excitement of your new home.
