How long does escrow usually take?
The length of the escrow varies and is determined by the agreement of the parties to the escrow. However, an escrow cannot be completed overnight as there are many documents to finalize and have signed by the parties. The purchase contract and escrow instructions usually state how long the escrow should last. Sometimes, though, a lender is not able to comply with the date set forth in the escrow instructions or purchase agreement due to various issues such as holidays, delay in obtaining signed documentation, or a delay in obtaining the appraisal report. In that event, escrow will close as expeditiously as possible after the date set for closing.
