What The Heck is Escrow??

This is probably the most common first-time homebuyer question and it’s probably the question no one really wants to ask out loud. Google search!

The term escrow describes the period of time between offer acceptance and when you actually get your keys. This period of time is usually somewhere around 30 days, but it could be faster or shorter depending on the specifics of your situation.

This is where the escrow company holds your initial deposit - usually 3% of the purchase price in Marin County, and this is when the appraiser provides the appraisal report, and your lender analyzes your paperwork and gives final approval of your mortgage loan.

If you have an inspection period written into your offer, you’ll also use this time to perform all your investigations of the property. This often includes a general home inspection, and a pest inspection (or wood-destroying organisms inspection). Sometimes the seller provides these reports up front so you can review them before placing the offer.

The title and escrow company also takes this time to issue title insurance, which ensures there are no liens on the property or unseen transfers of ownership that could come back and bite you later.

After all of these things are complete, the lender funds your loan, the escrow company distributes funds to all the necessary parties, the deed is recorded and you get the keys to your beautiful new home!

See below for an example escrow timeline:

Escrow Timeline - This will vary depending on the details of the specific contract.









Thorne Home Team
Naomi Thorne & Katherine Thorne
Coldwell Banker Realty
511 Sir Francis Drake Blvd
Greenbrae, CA 94904
415.559.5280
naomi.thorne@cbnorcal.com
katherine.thorne@cbnorcal.com
hometeammarin.com

Location: Greenbrae, Kentfield, CA, USA

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