Most of the time, the buyer will ask? How exactly is the first day of Escrow calculated?

The first day of escrow will be calculated on the day after the last buyer or seller signed the RPA (Residential Purchase Agreement) or counter offer. 

Remember. The first day is not counted until the escrow company accepts documents. 

It is very important so I will repeat it again. 

The first day of escrow will be calculated on the day after the last buyer or seller signed the Residential Purchase Agreement (RPA) or counter offer. 

An example to explain: 

July 1 is Saturday, the seller signed the RPA, July 1 is day Zero. 

The day after the signing, which is Sunday July, 2, is the first day of escrow.

7/3 Monday escrow Day 2, 7/4 Tuesday escrow Day 3, and so on.

Everyone must know that the first day of escrow doesn’t count until Escrow opens to accept documents on Monday!

In addition, pay special attention to the difference between calendar day and business day

Calendar day is every day on the calendar, including Saturday and Sunday. 

As for business day, commonly known as working day.

A business day is normally Monday through Friday, except any Saturday, any Sunday, or any day which is a legal holiday.

In the sales contract we know the Initial Deposit needs to be deposited within three business days.

If the purchase contract is accepted on Thursday, the buyer has 3 business days to place the security deposit in escrow.

Thursday will be considered day zero,

Friday is the first day,

Monday is the second day,

Tuesday is the third day.

Therefore, Tuesday is the last day the buyer needs to make the payment for Initial Deposit. 

The above is the information of calculating days in escrow.

If you have any questions or demand about selling or purchasing homes, please contact me.