Escrow is the period after an offer is accepted and before the sale closes. A neutral third party, the escrow officer, holds funds and documents and makes sure both sides meet the terms of the contract.
What usually happens
- The buyer’s deposit goes into escrow
- A title company researches the property’s ownership history
- The buyer completes inspections and reviews disclosures
- The lender processes the loan and orders an appraisal
- Both sides sign documents, and funds are transferred at closing
Why dates matter
Your purchase contract sets deadlines for inspections, loan approval, and other steps. Missing one can affect your rights under the contract, so your agent tracks each date and keeps you informed. For legal questions about your contract, consult a real estate attorney.
Questions about an upcoming transaction? Reach out.
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