How Escrow Works In Burlingame Real Estate

Buying or selling in Burlingame and wondering what actually happens between “offer accepted” and getting the keys? You are not alone. Escrow can feel like a black box if you have not been through it recently. This guide breaks down each step in plain English, so you know what to expect, what to do, and how to keep your closing on track in San Mateo County. Let’s dive in.

What escrow is in Burlingame

Escrow is a neutral process that holds funds and documents while both sides meet the terms of the purchase contract. A licensed escrow officer manages the file, follows written instructions from buyer and seller, and coordinates the final transfer.

Several parties work together during escrow:

• Buyer and seller. You sign the purchase agreement and give instructions through your agents.
• Escrow company. Opens escrow, holds earnest money, collects documents, coordinates payoffs and prorations, prepares settlement statements, and arranges recording.
• Title company. Searches the title, resolves defects or liens, and issues title insurance policies.
• Lender (if financing). Provides loan documents, sets conditions, funds the loan, and requires certain title and escrow items.
• Real estate agents. Coordinate disclosures, inspections, negotiations, and contingency removals.
• San Mateo County Recorder. Records the deed and mortgage, which makes the transfer official.

You will hear three terms used together. Escrow is the overall process. Closing is when money is disbursed and documents are finalized. Recording is when the county records the deed, which completes the legal transfer.

Escrow timeline in Burlingame

In Burlingame, most financed purchases close in about 30 to 45 days after the offer is accepted. Cash offers can close faster, often 7 to 21 days, depending on what you and the seller agree to. Timelines vary with lender speed, appraisal availability, and how you negotiate contingencies.

Here is the typical sequence:

1. Offer accepted and escrow opened. You deposit earnest money within the time in your contract, often 1 to 3 business days.
2. Initial setup. Escrow orders payoff statements, the title search begins, and the seller prepares required disclosures.
3. Contingency periods. You complete inspections, obtain loan approval, and review title and HOA documents.
4. Contingency removals. You remove contingencies in writing or, if needed, cancel within your contract timelines.
5. Underwriting and clear to close. Your lender issues conditions that you must satisfy before documents are released for signing.
6. Final signing. Buyer and seller sign closing documents and loan paperwork.
7. Funding and recording. The lender funds, escrow disburses payoffs and commissions, and the San Mateo County Recorder records the deed and mortgage.
8. Final statements. Escrow completes prorations and issues the final settlement statements.

Time-sensitive tasks to plan for

• Appraisal scheduling and completion if you have a loan.
• Home inspections and any agreed repairs.
• HOA document delivery and review if applicable, which can take a week or more.
• Clearing title issues, such as liens or unreleased loans, which can delay closing.

Contingencies and disclosures in California

Contingencies protect you while you verify the property and your financing. In the Burlingame area, common contingencies include:

• Inspection contingency. General home inspection and often a pest or termite report. Many buyers negotiate 7 to 17 days, but timing is part of the offer.
• Loan contingency. Your right to cancel if you cannot secure financing within the agreed period. Often 21 to 30 days, but negotiable.
• Appraisal contingency. If the appraisal is low, you can renegotiate, cancel under the contingency, or bring cash for any gap, depending on your contract.
• Title contingency. You can object to title problems that appear in the preliminary report.
• HOA/CC&R review. If the home is in an association, you have a statutory period to review governing documents once received.

Sellers in California must provide specific disclosures that feed into escrow:

• Transfer Disclosure Statement (TDS). Seller’s known facts about the property.
• Natural Hazard Disclosure (NHD). Whether the property is in certain hazard zones, such as flood or fire.
• Lead-based paint disclosure. For homes built before 1978.
• Local items. Earthquake and seismic risk are relevant in Burlingame. Lower-lying areas or homes near creeks may have flood considerations. If there is an HOA, standard resale documents will be part of your review.

In competitive markets, sellers may prefer shorter contingency periods or as-is terms. Weigh the risk and discuss how to protect your deposit before removing contingencies.

Costs, prorations, and who typically pays

Escrow will prepare a settlement statement that itemizes your costs and credits. Expect the following categories:

• Escrow fee. Charged by the escrow company for managing your file. Often split, but negotiable.
• Title insurance. A lender’s policy is required when you finance. An owner’s policy is recommended. Who pays can vary by agreement.
• Recording fees. The San Mateo County Recorder charges to record the deed and mortgage.
• Transfer taxes. County or city documentary transfer taxes may apply. Responsibility is negotiable and often follows local custom.
• Lender fees. Origination, appraisal, credit report, and related charges if you have a loan.
• Prorations. Property taxes, HOA dues, and utilities are adjusted between buyer and seller through the closing date.
• Repairs or credits. Either paid outside escrow, credited at closing, or funds may be held if agreed in writing.

Customs can vary, but you will often see:

• Seller pays real estate commissions and any seller-side transfer taxes if applicable, and may pay for the owner’s title policy in some cases.
• Buyer pays lender-related costs, recording fees related to the buyer’s loan, and often shares or pays the escrow fee and owner’s title policy depending on local practice and contract terms.

Ask your lender for a Loan Estimate and your escrow officer for an early fee quote to avoid surprises.

Title search and recording in San Mateo County

The title company will issue a preliminary title report. It shows liens, easements, judgments, taxes, or other items that affect ownership. Common issues include unpaid taxes, mechanic’s liens, or unreleased loans. These need to be cleared before closing.

Once all conditions are met and funds are ready, escrow sends the deed for recording with the San Mateo County Recorder. Recording makes your ownership official. Processing times depend on the county’s queue and whether the file is complete. Expedited options may be available for an additional fee.

Burlingame market realities to plan for

• Competitive offers. Burlingame demand can push buyers to shorten or waive contingencies to strengthen offers. That increases risk. Align your timelines with what you can responsibly verify.
• Appraisal gaps. High prices can outpace recent comparable sales. If the appraisal comes in low, be ready to cover a gap, renegotiate, or use your contract rights.
• HOA and condos. HOA resale documents can take time to collect. If you are selling, order them early. If you are buying, review budgets, CC&Rs, and meeting minutes within your contingency period.
• Permits and past work. Older Peninsula homes sometimes have unpermitted additions or modifications. Expect your inspections and title review to surface these items so you can decide how to proceed.
• Municipal or special assessments. Check for any city or county assessments or special district charges that must be paid at closing.
• Insurance planning. Homeowner’s policies typically exclude earthquake coverage unless added. Flood insurance may be required in FEMA flood zones. Start insurance quotes early to confirm availability and cost.

How to keep your escrow on track

A smooth escrow is about preparation, clear communication, and quick responses. Use this quick checklist.

For buyers

• Get fully preapproved with a local lender and confirm realistic appraisal and underwriting timelines.
• Decide contingency lengths you can meet based on your lender, inspections, and HOA review needs.
• Schedule inspections immediately and budget for potential repairs or credits.
• Choose an escrow and title team with San Mateo County experience.

For sellers

• Complete required disclosures early and gather HOA resale documents if applicable.
• Order a preliminary title report to catch and clear any liens or issues before going under contract.
• Set realistic expectations on closing dates and contingency timelines you will accept.
• Be ready to respond quickly to document requests from escrow and title.

For both parties

• Confirm the escrow and title companies up front and request an estimated fee sheet.
• Ask your escrow officer for a written timeline and a checklist of needed documents.
• Keep your agent, lender, escrow, and title looped in on any changes that could affect closing.

What happens on closing day

When you are near the finish line, you will sign final documents and, if financing, your loan package. The lender then funds the loan. Escrow disburses payoffs, commissions, and any agreed credits. The deed and mortgage go to the San Mateo County Recorder for recording. After recording is confirmed, you receive keys according to your possession terms.

Ready to navigate escrow with a local pro?

Escrow does not have to be stressful. With clear expectations, the right timelines, and a team that knows San Mateo County, you can move from offer to recording with confidence. If you want a calm, organized guide and local market insight tailored to Burlingame, connect with Caitlin Beanan.

FAQs

When is earnest money due in Burlingame escrow?

• Most purchase agreements call for a deposit within 1 to 3 business days after acceptance, held by the escrow company.

What happens to my deposit if I cancel under contingencies?

• If you cancel within an active contingency period as allowed by your contract, you are typically entitled to a refund of your deposit per the escrow instructions.

How long do appraisal and underwriting usually take?

• Appraisals often take 7 to 10 business days based on availability, and underwriting can take several days to a few weeks depending on your lender and file completeness.

Can we extend escrow if something runs late?

• Yes. Extensions require both parties to agree in writing and may include new dates or cost allocations.

Who orders inspections and title work in San Mateo County?

• Buyers typically order inspections, while the escrow or title company initiates the title search; your agents coordinate the timing and delivery.

What if the appraisal is lower than the price?

• You can negotiate a price change, bring additional funds to cover the gap, or cancel if your contract includes an appraisal contingency and timelines are still active.

Are HOA documents part of escrow for condos and townhomes?

• Yes. Sellers provide the HOA resale packet and buyers receive a statutory review period once the documents are delivered.

What does recording mean at closing in Burlingame?

• Recording is when the San Mateo County Recorder files the deed and mortgage, which completes the legal transfer of ownership.