California Escrow periods are like pregnancy Due Dates; they are often delayed due to the many different people & variables involved. Having experienced professionals in the transaction really helps.
Buyer's or Seller's agent opens escrow.
Seller's agent changes MLS status to "Pending" or "Backup Offer Only"
Buyer's agent submits "Good Faith Deposit" to escrow (time period applies)
Buyer chooses inspector and schedules home inspection (usually has 17 days to inspect property & be satisfied with condition before removing property condition contingency)
Lender/loan officer works on getting "loan conditions" met. (May include more pay stubs, bank statements, etc. from buyer, statements from escrow, title reports, appraisal report, etc.-could be anything. Some loans have lots of conditions & others have few)
Seller's agent gives disclosures signed by sellers to Buyer's agent to get signed by buyers & return (time periods apply).
Escrow sends out escrow instructions & some other paperwork for buyer & seller to sign. This clarifies the contract & authorizes escrow to do their job in ordering loan payoff statements, title reports, etc.
Lender orders appraisal (sometimes lenders leave this until later)
Week 2
Home inspection usually takes place. Then buyer's agent & buyer go over inspection & request repairs-if any-from seller.
Appraiser goes to property and does appraisal (time frame/week depends on appraiser & lender's schedule decisions & property availability)
Escrow is busy ordering demands, maybe getting additional info from buyers/sellers, etc. If you are a seller in an area with a homeowner's association, you can save money by providing escrow with the full CC&Rs that were given to you when you bought your home ASAP. Otherwise, you'll probably be required to give money to escrow to order them for buyer.
Preliminary Title Report arrives & must be reviewed by all parties & signed off (time frame varies)
Any requests or questions resulting from the home inspection are addressed & resolved.
.Contingencies for property condition, appraisal & disclosures are removed in writing (more signatures from buyers & sellers)
Week 3
Appraisal received by lender (we hope)
Lender should have appraisal & title report as well as other conditions met and submit for final loan approval (all loans are contingent on appraisal & title report)
Week 4-close of escrow (30 day escrow)
If you haven't let escrow know how you'd like to receive any funds due to you from the sale, now would be an excellent time to give them a call. You can have a check mailed to you, pick up your check, have the funds wired directly to your bank account, or delivered by your agent.
Loan officer orders "loan docs". They usually arrive at escrow by email the next day unless lender is "backed up" (remember escrow date is like a "due date"?)
Buyer goes in to sign docs. This usually happens anywhere from 10 days to 1 day before "close of escrow" (again-"due date"). It is mainly controlled by lender & loan officer & escrow appointment availability. Docs are usually signed in escrow. Sometimes docs are signed at loan officer's office or a traveling notary will go to buyer.
Once signed, the docs are sent back to the lender for review. This takes 1+ days depending on lender. (Don't forget..."Due date")
Once signed docs are reviewed and approved, loan funding takes place. Escrow officer will call agents when funding has taken place (no, not quite closed yet...almost)
After funding, escrow officer will set up sale to record at county recorder's office. Though recording usually takes place in the morning, "notice of recording" is received by escrow from anywhere between 12noon-6pm.
Escrow calls agents and says "We have recording" At this time, the sale is considered "closed". escrow begins the process of "dispersing funds".
Your agent will call you to say "congratulations" and maybe discuss getting keys.
Listing agent will change status in MLS to "Sold/Closed Sale".
This is the general time frame and procedure of most escrows. There are activities by various parties that aren't mentioned here, and most experienced Realtors will tell you that no 2 escrows are exactly alike. That being the case, I can't guarantee that your escrow will follow this scenario. This is provided to give you a general picture of the process, but I can not offer any guarantees as to it's accuracy in your particular situation.