Often times, buyers ask me: “When should I have my funds ready after my offer was accepted?”
Here are the guidelines: The first check you write will be the deposit, which is usually 3% of purchasing price and will be cashed and kept in escrow account three days after your offer was accepted. Remaining funds of down payment needs to be sent to escrow a day or two before close of escrow which will also be the time frame lender wire the mortgage you borrow to the escrow. After escrow verifies all funds received and all the documented requirements satisfied, they can move to close the escrow and it’s the time you will be able to get the key of the house you buy and officially become the new owner.
Email me with your questions and you will see it’s answered here.
