Usually in the beginning of escrow, the buyer and seller receive the instructions from their agent of how the escrow process will be.
Generally once your offer is accepted, an amount of money called “earnest money” is deposited into the escrow account. Then escrow is officially open. Inspections, negotiations, and loan approvals happen in a matter of about three weeks, in a normal escrow timeline. The rest is signing loads of paperwork, repairs begin, final walkthroughs happen, and then escrow is closed!
It’s important that if the buyer or seller doesn’t understand it or the process, they should ask their escrow officer or real estate agent to explain.
As the real estate agent it’s important that you lend a helping hand and make sure the clients understand escrow in California.
It will pay off in the long run because it will make the process go a lot smoother. Otherwise, it is like going to take a test or do an assignment without knowing anything about it.