Inspection Period and Escrow Phase

Inspection Period and Escrow Phase

When an offer has been accepted and an executed contract has been received, buyer and seller move into the next phase of the process. During the escrow phase, the buyer places the deposit amount in an escrow account to show good-faith. All documents and disclosures are completed and evaluated. The buyer will complete an inspection and appraisal of the property, and are expected to proceed with the purchase of the home as long as no material issues are found and all contingencies, including financing, are met.