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Buyer Escrow/Contract Timeline


Buyer Escrow Timeline


Congratulations! Your offer was accepted, and you have opened escrow on your new home.  So what’s next? How long should everything take? Is there a general escrow timeline to follow?

It usually takes between 30 to 60 days for an escrow to close. Sometimes the escrow timeline can be shorter or longer. You and the Sellers agreed to a Close-of-Escrow (COE) date in the contract.

Here’s a general escrow timeline for home buyers. While every sale is different, this should give you a good idea of what to expect.  You can always go to as a source for all your questions.



Week One – Inspections and Disclosures

The first week of an escrow timeline is usually the busiest.


There are often 2 during the first 10 days of escrow:

·         Home Inspection – The Home Inspection is ordered and paid for by you, the Buyer. The Home Inspector might recommend further inspections, such as a pool inspection or roof inspection, which are usually the Buyer’s responsibility.

·         Termite/Wood-Destroying Pest Inspection – If you are getting a loan, a termite inspection is required and usually happens the same day as the home inspection.  The termite company will issue a report separately from the inspector’s report, directly to the Buyers.


The home inspector will provide you, with a Home Inspection Report.  We will submit any repair requests per the BINSR form (below) to the Seller.  The Seller can accept or reject the requests.  The Seller can also offer a credit to the Buyer in lieu of repairs. The Request for Repairs can also include any termite treatment, if a applicable.

BINSR (Buyer’s Inspection Notice & Seller’s Response) The request for repairs (if any). Agent & Buyers will discuss what items to ask for. The findings are written up in a BINSR, and signed by Buyers. Then, the sellers have 5 days within receipt of the BINSR to respond. Once the Sellers respond, the Buyers then have 5 days from receipt of Seller’s Response to either approve, or elect to cancel the contract.


If you are taking out a mortgage, a lender appraisal is required. You will pay the lender for the appraisal (typically at closing), but you do not attend the appraisal appointment. The Agent will instruct the Lender to order the appraisal after the BINSR is fully executed; all repairs (if any) are negotiated.


Sellers normally provide a variety of disclosures to the Buyer, depending on the home. These disclosures describe the property, and reveal any material defects or past issues. Here in Arizona, most seller disclosures are due to the Buyers within the first 5 days of escrow. Except for the ‘SPDS’-Seller’s Property Disclosure Statement; this is due within the first 3 days of escrow.  Seller will also provide an Insurance Claims History for the property.

If the property is located in a planned community with a Homeowner Association, the Escrow Officer will order Homeowner Association documentation, and then send directly to you, along with the Preliminary Title Report.  It’s important you review these documents and let us know if you have any questions.


You will review the Seller Property Disclosures, including the HOA documentation. This will be one portion to decide if you want to continue with the purchase of the home.  Again, all of this is should be reviewed in the first 10 days of escrow.


Week Two – Loan Process and Other Decisions

As we move into the second week the lender will continue with processing your loan.  We will finalize  and you review all the disclosures to make additional decisions to continue with the purchase.


Your lender’s underwriter may request additional documentation for final loan approval.  Keep in touch with your loan officer, and continue to provide any information they request as quickly as possible.


When the lender receives the Appraisal Report, they will notify you as to the results.  We will also notify the sellers agent as to “the value.”  In the event the property appraisal value is lower than the purchase price, decisions & negotiations need to be made.  Sometimes, the Seller will lower the purchase price. Sometimes, the Buyer will pay the difference between the appraised value and the purchase price.  It may be a combination of both solutions, and Agent will handle negotiations on behalf of Buyer for this.


Week Three – Repair Completion and Other Follows Up Items

Sellers will be working to complete any negotiated repairs.  Your lender will continue with the loan process and will let you know how thing are progressing as they work towards final loan approval.

Final Week – Details

During the final week of the escrow timeline, all repairs are to be completed, and receipts are submitted to the Buyer for review.  Repairs by Sellers must be completed at least 3 days prior to COE. The Buyer also conducts a Final Walk-Through, to inspect the repairs and verify the house is still in the same condition as when the offer was made.  Final loan approval should be concluded and the lender sends out the closing disclosures for the buyer to approve.  Be sure to order the utilities in your name (Power, Water, Gas etc.)  Click here for all of the utility information found on our website!

Loan Document Signing – If you have a mortgage, the Escrow Officer will contact you to schedule the signing of your documents.  This often takes place at the Title Company, or you can have a mobile notary come to you in the event your schedule is buys.

Closing –

The lender will review your documents one final time and schedule the funds to be wired to the Title Company so they may schedule final recording of your new home.  Once your closing package is given to the County Recorder’s office you get keys to your new home!  Once you move in, stay tuned for the junk mail – and the junk mail scams sent out to unsuspecting home buyers.

Always refer to our web site for helpful tips and ideas or contact us with any questions.