After the deposit is accepted into the escrow account all of the terms of the purchase agreement must be met. The very first thing that is done is a title search to make sure that all of the parties on title are in the purchase agreement. Say that a person was married, they got a divorce without removing the person's name from title after the divorce settlement. This can bedone in two ways the first is that you can include the person in the purcahse agreement or they can signoff on the title with a copy of the divorce decree.
Then the terms of the contract come are to have been met. This can include all inspections that are agreed upon in contract, any special agreements that have been stated. For instance if there is a loan contingency or the sale of another house that has to be done.
When all of the terms have been met including all conditions and inspections the seller goes to escrow and signs the deed and all of the inspections that they were to have done. The buyer's then come in and sign all of the inspections and terms of the purchase agreement if everything is completed as in their contract. As soon as all documents as signed the deed will be recorded with the county that the property is in with the new owner's name on them and any mortgage company or owner carry that is involved in the contract. Then everybody gets paid and escrow is closed.