Does escrow start from the date on the original Purchase Agreement if the offer is accepted with no changes?

Asked by Justwondering, 95409 Thu Jun 7, 2012

If a buyer made me an offer dated 5/15/12 and I accepted it with no changes, did escrow start on 5/15/12?
Thank you

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Terry Bell’s answer
Terry Bell, Agent, Santa Rosa, CA
Tue Jun 12, 2012
Not necessarily, most offers are made with a default reply time of about 3 days. You didn't say if you accepted it on the same day that it was written. It's possible that the offer was written on 5/15/12 and you may not even have received it until 5/16 and if you had three days to review it and accepted it on 5/18 with no changes, then the clock would start at the acknowledgment of aceptance, maybe 5/18. So check with your agent, as the clock can be important later when contingencies have to be removed or if the buyer wants to cancel.
1 vote
Cindy Davis, Agent, San Diego, CA
Thu Jun 7, 2012
if you both signed it on 5/15 - then yes, the clock would starting ticking on that day.
0 votes
Justwondering, Home Seller, 95409
Thu Jun 7, 2012
Thanks, that clarifies it!
0 votes
Walter 'Skip'…, Agent, Brea, CA
Thu Jun 7, 2012
The dates and timetable for the transaction will start on the 15th but escrow will start when it is opened by the listing agent.
Good luck,
0 votes
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