Your offer got accepted. Now comes 30-odd days of deadlines where a missed date can cost you the house. Escrow is where the deal holds together or falls apart.
What escrow is
A neutral third party holds the money and documents until you and the seller have each done what you promised. You put down good faith money, the seller pulls the listing, and conditions have to clear: inspections, appraisal, loan approval. Miss a deadline and you can lose your leverage or your deposit.
Opening escrow
The clock starts the day your offer is accepted. You'll wire earnest money, usually 1 to 3 percent of the price, often the top of that range on higher-priced San Francisco properties. Your agent tracks the dates from here, and there are more of them than you'd guess.
Inspections
You typically get 7 to 17 days, and competitive sellers push for the short end. Beyond a general inspection, San Francisco housing calls for roof and structural, pest and termite, and the sewer lateral, which catches problems in older homes that nothing else will. What inspectors find becomes your material for negotiating repairs or credits.
The appraisal
Your lender orders it to confirm the house is worth what you're paying. Come in low and you're covering the difference in cash, renegotiating, or reworking your financing. That happens more than people expect after a bidding war.
Underwriting
The stretch that keeps buyers up at night. Your lender reviews your income, credit, debt-to-income ratio, and the property itself. A full pre-approval helps. Don't open a credit card or change jobs during this window. People do, and it derails deals.
Title and final walkthrough
The title company confirms the seller owns the property free and clear, then insures your ownership. Before closing, you walk the property once more: repairs done, condition unchanged, agreed items still there. Rushing this is a mistake, because afterward the problem is yours.
How long it takes
Cash purchases close in 7 to 14 days. Financed purchases run 21 to 45. If timing matters to you, say so early. Escrow rewards preparation, so keep your financing clean and watch the calendar.