We have recently talked about the life of an escrow, and the purpose of contingencies in a sale, and why you need contingencies to protect your interests. These three articles will give you a great overview of the buying process; what I’d like to talk about now is the timeline of your escrow. As you know, the escrow is the period of time used to accomplish the various tasks by both buyer and seller to complete the transfer of the property. Your contingency periods are the stipulated time you have to complete each of your tasks (contingencies).
What follows is a buyer’s and seller’s checklist that is a step by step example of the timeline of a typical escrow, with the usual contingency times filled in. Simple insert your contract dates, and you’ll have an easy roadmap to follow during your escrow. You’ll know what needs to be completed, by whom and when. Take a look. Feel free to download the PDF, below.
If we can help you or answer any questions, please feel free to contact us.