Home Selling or Purchase Time-lines for California This is for standard RPA. Changes to time-lines can always be varied to meet buyer and seller needs.
*Offer written seller has 3 days to respond unless other wise noted
*Length of escrow noted RPA pg 1 #1. D.
*Counter offers 3 days to respond unless other wise noted
*Open escrow within 3 days of both parties signing the RPA
*Buyer has three days after escrow is open to put the deposit in escrow *Buyer has 3 days after offer accepted to provide seller with proof of funds (bank statement COP) to close escrow, loan DU approval letter from reputable direct lender unless attached with offer.
*Seller has 7 days to give buyer all disclosures and any reports (wood destroying pest)
*Buyer has 17 days to complete any inspections they pay for all inspections desired mold, roof, Home Inspection etc *Buyer to submit any requested repairs to seller.
* Seller there is not a written time-line to respond but usually 24 hours is acceptable to move forward and respond to buyer repair request or credit or cancel the contract.
*Buyer has 21 days to remove the loan contingency
*Appraisal contingency 17 days after acceptance
*Any agreed on repairs to be completed 7 days before close of escrow
* Buyer reviews and or signs loan documents 7 days before scheduled close of escrow
*Buyer reviews their lenders closing costs and accepts
*Lender funds the loan in escrow
*Escrow sends transfer of ownership to the county to be recorded. Once recorded by the county escrow closes.
*Buyer takes possessions per RPA #9. B.
Please note: Lender required repairs Section #1 wood destroying pest clearance required by most all lenders. To get a clearance repairs must be completed 7-10 days before buyer signs loan docs and or Close Of Escrow
TERE RICE REALTOR BRE #01079287 Allison James Estates & Homes