01. Arizona runs on escrow
In Arizona, the purchase contract names a title and escrow company that manages the money and the paperwork from the day the offer is accepted until the deed is recorded. A typical financed escrow runs about 30 to 45 days. Cash deals can close in 10 to 14. Complex financing can stretch it to 60. Knowing the shape of the timeline keeps you calm at the moments that feel chaotic.
03. Phase one: contract accepted, escrow opened
Both parties sign the purchase contract and the agent opens escrow with the named title company. The escrow officer issues instructions and sets the calendar. Earnest money is typically due within one to three business days, and that deposit is what shows the seller you are serious.
05. Phase two: title work and disclosures
The escrow officer orders the preliminary title report, which surfaces liens, easements, and defects on the title. If the property has an HOA, resale documents and demand are requested, and the seller delivers the required disclosures. Any red flags found here get resolved before they become closing problems.
07. Phase three: inspections and negotiation
The buyer completes the inspections, usually within a 7 to 15 day window written into the contract, and then delivers the Buyer's Inspection Notice and Seller's Response, or BINSR. Repairs, credits, and allowances are negotiated on that single form. This is where an agent who has seen a few thousand escrows earns his keep.
09. Phase four: financing and appraisal
Your lender verifies income and assets, reviews the contract, orders the appraisal, and runs the file through underwriting. Loan approval leads to a formal commitment, at which point the loan contingency is removed and the deal is real.
11. Phase five: signing
Approved loan documents go to escrow and the buyer signs closing documents, usually a few days before the scheduled closing date, and brings the down payment and closing funds. The seller signs on their side of the table.
13. Phase six: walkthrough, recording, keys
A final walkthrough confirms the property is in the agreed condition. Then the escrow officer wires the funds, records the deed and the mortgage with the county recorder, and the sale is official. Keys change hands and escrow closes. From offer to keys, someone should be watching every date on that calendar for you, because the dates are the deal.
Written by the broker
Todd J. Smith, Associate Broker at My Home Group
Forty years in Arizona real estate, nearly 3,000 escrows guided, and 100 homes sold. I sell representation, not houses.
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