9 - Escrow.
RPA, together with any final Counter
Offer items, in essence constitute
your "contract" and the
preliminary instructions to the escrow
company. To "open escrow",
your agent delivers your contract
and deposit check to the escrow company
identified in contract. This escrow
company acts as neutral third party
to the transaction. Essentially, they
handle all the cash and paperwork.
They insure that all of the conditions
and contingencies in the RPA and Counter
Offers and any lender's requirements
are addressed. A typical escrow will
last from 30-60 days.
note that many escrows do not "close"
on time. A diligent escrow company
in addition to a committed real estate
agent will ensure that your transaction
goes as smoothly as possible
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