Buying in Walnut Creek and wondering what happens after your offer is accepted? You are not alone. Escrow can feel opaque the first time you go through it, especially with local timelines and documents to manage. This guide breaks down how escrow works in Contra Costa County so you know what to do, when to do it, and who does what. Let’s dive in.
What escrow means
Escrow is a neutral service that holds funds and coordinates the closing steps for both sides. The escrow holder follows written instructions from you and the seller, manages your deposit, lines up document signings, and disburses funds only when all conditions are met. In California, escrow is often handled by a title or escrow company. Title companies also research the property’s title history and issue title insurance, which is separate from the escrow function.
You will see several sets of instructions and disclosures along the way. Sellers in California provide statutory disclosures, and you review them during your contingency period. For an overview of required disclosures, visit the California Department of Real Estate’s consumer resources at the California Department of Real Estate.
Walnut Creek timeline
In the East Bay, escrow on a financed purchase commonly runs 21 to 45 days. Thirty days is a typical target when a lender is involved. Well‑prepared cash purchases can close in 7 to 21 days. Your contract sets the exact dates.
Contingency windows often used locally include:
- Inspection and due diligence: about 7 to 17 days.
- Loan approval: about 17 to 30 days, depending on your lender.
- HOA review (if applicable): about 3 to 10 days after documents arrive.
These are common ranges, not rules. Your offer and the market may call for different timing.
Step-by-step path
- Offer accepted
- You sign the purchase contract and the listing agent opens escrow with the chosen company.
- Deposit delivered
- You send your earnest money to escrow by the contract deadline. Escrow holds it in a trust account and applies it to your purchase at closing.
- Escrow opened
- You receive an opening package. Escrow requests payoff info from the seller’s lender, orders title work, and coordinates with your lender.
- Due diligence
- You complete inspections, review seller disclosures, and review HOA documents if the home is in an association. If you have a loan, your lender orders an appraisal and advances underwriting.
- Title search
- The title company issues a preliminary title report. Any liens or other issues must be cleared before you can close.
- Loan approval
- Your lender clears final conditions and issues clear to close. If the appraisal comes in low, you and the seller may need to renegotiate or adjust terms.
- Signing and walkthrough
- You do a final walkthrough, often 24 to 48 hours before signing. Escrow schedules your signing, which may be in person or electronic where available.
- Funding and recording
- Your lender wires funds to escrow, or you provide a cashier’s check or wire for your cash to close. Escrow disburses funds, the deed is recorded at the Contra Costa County Recorder, and title insurance is issued. Keys are delivered per the contract.
- Post‑closing
- Escrow reconciles prorations and delivers your final settlement statement.
Key contingencies
Inspection contingency
- Lets you inspect the home and request repairs or credits within your contingency period. Schedule inspections early and plan to attend.
Pest and WDO
- A wood‑destroying organism report is common and may be required by lenders. Clearance can be negotiated.
Appraisal contingency
- Protects you if the appraised value is below the contract price. Lenders may still require a satisfactory appraisal even if you remove this contingency.
Loan contingency
- Allows you to cancel if you cannot secure financing by the agreed deadline. Get full preapproval and keep documents current to stay on track.
Title review
- You review the preliminary title report and can object to unacceptable issues.
HOA documents
- For condos and many planned developments in Walnut Creek, you will review CC&Rs, financials, reserve studies, and meeting minutes. HOA packet timing can delay closing, so build this into your escrow length.
Statutory disclosures
- You review the Transfer Disclosure Statement, Natural Hazard Disclosure, and any other required forms during your contingency period.
Costs and deposits
Earnest money
- Your deposit shows good faith and is held in escrow. The amount is negotiated in your contract. If you cancel within a valid contingency period, deposits are typically refundable per the contract.
Down payment and closing funds
- Before closing, you provide your remaining down payment and closing costs. Escrow coordinates the final amount based on lender instructions and prorations.
Title insurance
- You will see two policies at closing: an owner’s policy that protects you and a lender’s policy that protects your lender. Who pays for the owner’s policy varies by county and by negotiation.
Recording and transfer taxes
- County and city fees are collected at closing. For current recording information, consult the Contra Costa County Clerk‑Recorder at the Contra Costa County website. Your exact amounts will appear on your final closing statement.
Who does what
- You: Deliver your deposit, complete inspections, respond to lender needs, remove contingencies on time, sign documents, and wire funds safely.
- Seller: Provides required disclosures, allows access for inspections, completes agreed repairs or credits, and signs closing documents.
- Buyer’s agent: Advises on timelines, coordinates inspections and walkthrough, communicates with escrow and your lender.
- Listing agent: Opens escrow, manages disclosures, and coordinates with all parties.
- Escrow officer: Holds funds, prepares settlement statements, coordinates signing and recording, and releases funds when conditions are met.
- Title officer: Researches and clears title issues, then issues title insurance.
- Lender: Underwrites your loan, orders the appraisal, issues the Closing Disclosure, and sends funds.
- County Recorder: Records the deed and any mortgage documents.
Avoid common delays
Walnut Creek closings most often slow down for a few predictable reasons. Plan ahead to keep your timeline intact.
- HOA document delays. Ask about HOA turnaround times before you write your offer. If the HOA is slow, consider a longer escrow.
- Appraisal gaps. If prices are moving fast, appraisals can lag. Discuss strategies with your agent and lender in case the value comes in low.
- Title issues. Liens or old loans can take time to clear. Your title officer will flag these early.
- Lender conditions. Keep your financial documents updated and respond quickly to requests.
- Late deposits or paperwork. Calendar every contract deadline and confirm delivery with escrow.
Buyer checklist
- Deliver earnest money by the contract deadline.
- Schedule home and pest inspections right away and attend them.
- Review all seller and hazard disclosures and ask questions.
- If buying in an HOA, request and review the full packet promptly.
- Keep your lender supplied with current documents and track the appraisal.
- Verify wire instructions directly with escrow by phone before sending funds.
- Do your final walkthrough 24 to 48 hours before closing.
- Review your Closing Disclosure at least three business days before closing. For a clear overview of this timing, see the CFPB’s guide to the Closing Disclosure.
Seller checklist
- Complete all required disclosures as early as possible.
- Provide access for inspections and complete agreed repairs or credits.
- Send payoff information for any existing loans to escrow.
- Review and sign closing documents as soon as escrow requests them.
Closing day steps
- Signing. You sign final loan and escrow documents. Remote or in‑office options may be available.
- Funding. Your lender wires funds, or you wire your cash to close per escrow’s instructions.
- Recording. The deed and any mortgage documents are recorded with the county.
- Keys. You receive keys per your contract, often the same day recording is confirmed.
Your lender must deliver your Closing Disclosure at least three business days before you sign to close. This federal rule helps you review your final numbers without pressure. If anything changes on the loan terms late in the process, your closing date could shift to maintain that three‑day window.
Local context and support
Walnut Creek sees a mix of single‑family homes and HOA communities, each with its own escrow rhythm. HOA document timing, pest work for older homes, and busy appraisal schedules are the most common drivers of change. Lean on your team and trusted local resources. The Bay East Association of Realtors shares regional guidance and education you may find helpful at the Bay East Association of Realtors. If you want an overview of how title and escrow coordinate, many title firms publish checklists and timelines. First American’s national site is a useful starting point: First American Title.
Plan your escrow with confidence
Escrow does not need to be stressful. With clear timelines, early inspections, tight lender communication, and a seasoned local team, you can move from offer to keys on schedule. If you are weighing your options in Walnut Creek or the broader Lamorinda area, we are here to help you plan a smooth path to closing.
For tailored guidance on your next move, connect with The Beaubelle Group - CANCELED 2/22.
FAQs
What is escrow in Walnut Creek real estate?
- Escrow is a neutral service that holds your deposit, coordinates closing tasks, and disburses funds only after both sides meet the contract conditions.
How long does escrow usually take in Contra Costa County?
- Financed purchases often close in 21 to 45 days, while well‑prepared cash deals can close in 7 to 21 days, depending on your contract and parties’ readiness.
What should I review during my contingency period?
- Typical items include general and pest inspections, seller disclosures, HOA documents if applicable, the appraisal for financed deals, and your preliminary title report.
When will I get my Closing Disclosure before I sign?
- Your lender must provide the Closing Disclosure at least three business days before closing. See the CFPB’s Closing Disclosure overview for details.
Who pays for title insurance in Contra Costa County?
- It depends on your contract and local custom. Owner’s and lender’s title policies are common, and payment responsibilities are negotiable between buyer and seller.
How do HOA documents affect Walnut Creek closings?
- HOA packets can take time to assemble. Build that timing into your escrow length and review the CC&Rs, financials, reserve studies, and minutes as soon as they arrive.
Where can I confirm recording fees and processes?
- Visit the Contra Costa County Clerk‑Recorder information at the Contra Costa County website for current recording procedures and fee schedules.
