LISTING AGENT SELLING AGENT
DAYS ACTION DAYS ACTION
1-7 Open Esrow – Provide completed 1-3 Log buyer’s deposit check into
purchase contract and counter Broker’s Trust Fund Log – Take
offers. Provide a contact info sheet. check to escrow. Give copy of
purchase contract & counters to loan
1-7 Fill out all disclosure forms with 1-7 Arrange for buyer’s physical
seller/ order Natural Hazard Report inspection.
/ Provide Earthquake Booklet. If listing agent has not provided
Give all completed disclosures to disclosures by day 7 – fill out “Notice
selling agent for buyer’s signature. to Seller to Perform” give to listing
1-7 Arrange for termite inspection, 1-17 Review all disclosures with buyer.
once completed give a copy to Sign where indicated. Review
selling agent for buyers review. physical inspection & fill out
“Request for Repairs” form.
1-17 Review buyer’s Request for 1-17 By day 17 (calendar days from
Repairs with seller and respond. acceptance) buyer must decide to stay
**Seller does NOT have to repair in the deal or not. If buyer decides to
anything, including code items, stay – fill out “Contingency Removal
however seller might lose buyer. Form” and give to listing agent.
17 Request buyer remove all 10-17 Make sure loan officer is doing
contingencies. If buyer delays – his/her job; getting loan approval.
Fill out “Notice of Buyer to Make sure buyer is cooperating with
Perform” and give to selling agent. loan officer.
18 to Make sure seller is fixing repairs, 5 days Conduct a walkthrough of the
End and termite company is completing prior property with the buyers making sure
termite issues. Make sure seller is to repairs are complete, and no new
packing! COE damage has occurred to the property.
The above timeframes are standard in the Purchase Contract and maybe negotiated between
buyer and seller. So conduct the above actions according to the agreed upon timeframes.
Escrow Actions: Escrow will provide additional escrow instructions and address any changes or
modifications to the contract during the escrow period. Escrow will send out the instructions for
signatures. Escrow will order the Preliminary Title Report and send copies to all parties.
Escrow will coordinate with the loan officer a time for loan doc signing.
Escrow is not interested in any of the disclosures, other than the termite report. Any bills
needing to be paid by seller or buyer should be submitted to escrow, so the officer can collect the
funds and disburse them to the appropriate parties.
**The most critical timeframe is the first 17 days. During this time the buyer can cancel for any
reason and get his deposit back. (with mutual agreement of the seller in writing)