The escrow process is the time period immediately after contract acceptance until official recordation of the sale. Typically this is around 30 days, but is negotiable depending on both buyer and seller timelines and goals. During this process, the inspection period occurs where the buyer inspects the property, the appraisal process where a 3rd party appraiser, usually ordered by the lender, conducts an opinion of value for the property, the lender puts together all the necessary documents and needs for buyer loan approval, and the title company compiles all the documentation, verifies ownership and equitable title, disclosures from the HOA, and calculations to properly transfer ownership at closing. Typically final loan approval is obtained within 3 days prior to closing, title companies will contact both parties for signing either the day before or day of closing, and final recording confirmation is provided by the county at some point in the day of closing. This recording confirmation from the county on closing day can come as early as 8am, all the way to 5pm. Once the property records, ownership transfers and the buyer is able to begin to moving in to their new home.
