I can appreciate your angst over the apparant delay from the Escrow company not recording your deed, so you can move in. There is little more frustrating than to deposit your down payment into escrow, sign all of your loan docs,and then not be able to close. Especially when this whole process started probably at least 30 days ago with the finding, and the contracting, and the applying for a loan on the home. Then with all the hoops you have had to jump through and all the stuff (short of a blood test) you have had to provide, you just want it to be over. The Escrow company, your lender, the Seller, and both agents all want it to be over too. No one gets paid until it records. So, why hasn't it recorded yet?
There are a number of things that have to happen after you sign, before it can record. Let's look at the Ducks that need to get lined up in order for you to finally enjoy your home.
1) Once you have signed the loan docs and other required Escrow papers, the Loan docs have to be approved by your Lender. Some authorize based on faxed or emailed loan docs, but (and especially if your docs originated out of state) and depending on your lender's strict policies, your lender may want to physically review "wet signed" docs before they will allow the deed to be released for recording. This can happen at the closing table, or take as much as 48 hours.
2) If it is a Short Sale, the Seller's Lender will require that they have the opportunity to accept the HUD1 (AKA Settlement Statement). This can happen in as little as a few hours, to as long as 3 days. I had one case where it took nearly a week to get approval because the closing negotiator was out of the office. If it is an REO, the Seller (a Bank) is going to have to review and approve the HUD1. This usually takes no more than 24 hours, but can take 48 hours to get approved.
3) If anything is not exactly correct, that can delay the closing.
4) If there is an HOA and the escrow company had to rush to close escrow, it may not have the "Demand" back from the HOA. This can add 10 days to the process.
5) If the HOA Demand or ANY other costs have gone up from the amount on the HUD1 that either the REO Seller (Bank), or the Short Sale lender, which means that the Bank is going to have to come up with more money, that has to be approved and/or negotiated as well.
6) If there is a Holiday like MLK day yesterday, there is another day.
My advice... Take a deep breath, relax, trust all of the people around you to collectively do their jobs, and close your eyes and imagine how you are going to finally be able to enjoy your beautiful home which you got at a bargain price, and soon enough, it will be yours.
Congratulations, Best of luck, and thanks for reading