THE PATHWAY TO SELLING:
ACCEPTED OFFER – ESCROW BEGINS
When a buyer’s offer gets accepted, three timelines run (some simultaneously), and they are:
-Deadline for Buyer to deposit Earnest Money
As part of the Buyer’s Due Diligence:
-Seller’s Disclosures review period
-Physical Inspection period
If Buyer is mortgaging:
-Lender’s Appraisal
Deadline for Buyer to deposit Earnest Money
Upon mutual offer acceptance, buyers have 3 Business days (default – every offer can be different) to deposit earnest money into an escrow account.