Two systems,
two different orders
Some states close through attorneys, others through escrow and title companies. The difference decides when your inspection happens, when your money is at risk, and how quickly you can complete.
Before you read on
- General information as of August 2026. Practice varies by state and by county — your own attorney or escrow officer governs your transaction.
- Timelines assume a financed purchase. Cash purchases compress the middle steps substantially in every state.
- For an overseas buyer, the constraint is rarely the legal process. It is documents, wires and authentication.
Point 1Attorney states and escrow states
The same transaction, supervised by different professionals, in a different order.
| Element | Attorney state (e.g. New York) | Escrow state (e.g. California) |
|---|---|---|
| Who drafts the contract | Attorneys, negotiated | Standard state form, agent-completed |
| Who holds the deposit | Seller's attorney in escrow | Neutral escrow company |
| When the inspection happens | Before contract signing | During a post-contract contingency |
| Who conducts settlement | Attorneys | Escrow and title officer |
| Typical financed timeline | 60–90 days | 30–45 days |
| Exit before contract | Free, inspection precedes signing | Contingency periods with defined dates |
A simplification of two broad patterns. Several states blend the two, and North Carolina adds a priced due diligence period of its own.
The practical difference for a buyer is where the risk sits. In New York you inspect while still free to walk at no cost, then commit heavily on signing. In California you commit earlier but retain dated contingency periods that function as clean exits.
Point 2The financed timeline, stage by stage
A documented pre-approval and, in attorney states, counsel retained in advance. Sellers discount offers that arrive without both.
In New York the inspection sits here, before signing. In escrow states the contract signs first and the inspection follows within a defined window.
Commonly 10% in New York, often 1-3% as initial earnest money elsewhere with more due later.
Usually the critical path. Submit the complete file within days of signing rather than waiting to be chased.
Runs in parallel. Defects surface here, which is why the search precedes rather than follows the money.
Final inspection of condition, then funds and documents exchange. Remote buyers sign by power of attorney or remote notarization.
Point 3Where an overseas timeline actually slips
Almost never the legal process. Almost always documents, banks and authentication.
Three items cause most delays and all three are solvable weeks in advance. Power of attorney authentication — where executed abroad, it may require an apostille or consular legalisation, routinely two to four weeks. Bank transfer limits— a seven-figure payment frequently exceeds standard daily limits and needs advance arrangement. Certified translation of financial documents for a lender or a co-op board, another two to three weeks.
A workable rule: assume every step involving a bank, a consulate or a translator takes twice as long as the person quoting it believes, and build that into the contract dates rather than discovering it against them.
Point 4Cash changes the shape entirely
Removing the loan removes the appraisal, the underwriting and the commitment deadline — the three items that consume most of the calendar and cause most collapses. A cash purchase can complete in about 30 days in New York and two to three weeks in escrow states, subject to the title search.
That speed is also a negotiating asset. Sellers regularly accept a lower certain number over a higher conditional one, which is why many overseas buyers close in cash and place a mortgage against the completed property afterwards.
Typically 30 to 45 days in escrow states and 60 to 90 days in attorney states when financed. Cash purchases can complete in two to four weeks.
New York, Massachusetts, Georgia and several others require or customarily involve attorneys at closing. Much of the West and South closes through escrow and title companies instead.
In New York, before the contract is signed. In most escrow states, during a defined contingency period after signing. The difference changes where your risk sits.
Commonly 10% at contract in New York. Escrow states often take smaller initial earnest money with further deposits at defined milestones.
No. Power of attorney and remote notarization are routine, and funds move by international wire. Arrange the authentication weeks ahead.
Document authentication, bank transfer limits and certified translation — none of which are legal problems and all of which are solvable in advance.
RELATED GUIDES
Let’s talk first
We map the closing timeline against your own bank and consulate constraints before you make an offer.
Important notice
The figures on this page are general information as of August 2026 and do not represent an offer, a quote, or a guarantee of any transaction terms. Reinvent NY does not provide legal, tax, or investment advice. Confirm anything material with an attorney and a CPA before you act on it. Nothing here is a solicitation to invest, and no return is promised. Real estate brokerage services are provided through R New York.