Escrow
Escrow is the neutral third-party process that holds funds, documents, and instructions between a buyer and seller until every condition of a sale is satisfied, at which point title and money change hands simultaneously.
An escrow holder — typically an independent escrow company or title company in California — collects earnest money, orders the preliminary title report, coordinates disclosures, prorates taxes and HOA dues, and records the deed at closing.
California generally uses independent escrow companies rather than the closing-attorney model used in some other states. A financed sale commonly runs 15 to 30 days through escrow, while an all-cash transaction with no lender contingencies can close in as little as 7 to 10 days.
Sellers under time pressure — a pending divorce, a relocation deadline, an approaching foreclosure date — benefit from understanding that removing buyer financing from the equation removes the single biggest source of escrow delay.
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