Legal Question in Real Estate Law in California

Re: Escrow

There is no rule. It is negotiated between the buyer and seller.

Re: Escrow

Actually, all the terms of an escrow are negotiated between the parties. The parties are normally the buyer and the seller. The lending institutions' time needs, to approve and fund a new loan or to calculate the payoff on an existing loan, are factors the buyer and seller should consider in setting a realistic close of escrow date. Nevertheless, all the terms of an escrow are ultimately the result of joint instructions given the escrow holder by the parties. For further thoughts, you should ask your agent or broker, who would be familiar with the deal and any factors which might suggest or require a longer (or shorter) than usual escrow. If you are already in contract and escrow has been opened, there is probably a closing date in place already, and changing that is a breach of contract unless the buyer consents. Most buyers have made plans assuming getting possession on a date certain and would not agree to an extension without concessions. Another possibility I don't recommend but some people use is for your husband to negotiate a short-term rental with the buyers so he can remain in possession after closing.