Buyer & Seller RPA Escrow Deadlines

signing papers
Mon, 01/26/2015 - 8:48am

The California Association of Realtors Residential Purchase Agreement (RPA) requires sellers and buyers to meet several specific deadlines during the closing process.  

It is imperative that real estate agents provide seller and buyer contact information to Escrow at the opening of escrow so that required forms typically handled through escrow can be sent out at opening. Getting them out timely will assist the parties in meeting the deadlines set out in the RPA. 

Placer Title wants to be your partner in the closing process. Below are a few important deadlines in the RPA:     

•Affidavit sufficient to comply with FIRPTA and California Withholding including any counter offer(s) and addenda shall be delivered to Buyer or Escrow Holder within 7 days after acceptance or another date specified.   

•Seller shall give Escrow Holder a completed Statement of Information within 7 days after acceptance. 

•Seller and buyer shall return General Provisions to escrow within 5 days of receipt.   

•Buyer shall deliver deposit directly to Escrow Holder by electronic funds transfer within 3 business days after acceptance, unless otherwise marked.