Buying your first home in Everett? Once your offer is accepted, the word “escrow” shows up fast, and the steps can feel confusing. You want a smooth path to the keys, clear costs, and no surprises. In this guide, you’ll learn how escrow works in Snohomish County, what happens at each stage, typical timelines and fees, and simple ways to avoid delays. Let’s dive in.
What escrow does in Everett
Escrow is a neutral third party that holds funds and documents, follows written instructions from you, the seller, and your lender, and coordinates signing and recording. Escrow also orders and tracks title work and pays everyone at closing.
In Snohomish County, recording the deed with the County Auditor is the legal act that transfers title. Escrow handles recording once funds are ready and all conditions are met, then disburses money to the seller, lienholders, and other parties.
Your closing timeline at a glance
Every transaction is unique, but most Everett closings follow a similar rhythm.
- Days 0–3: Open escrow and deposit earnest money
- Days 7–17: Inspection window and disclosure review
- Days 14–45: Loan underwriting and appraisal (about 30 days common for conventional loans)
- Signing to recording: Often the same day or within 1 business day
These ranges depend on your contract, loan type, appraisal scheduling, and any title items that need attention.
Step-by-step: From offer to keys
1) Mutual acceptance and opening escrow
Once you and the seller sign the Purchase and Sale Agreement, your earnest money deadline and contingency periods start. Your agent or the listing agent sends the contract to the agreed escrow/title company to open the file and set up instructions. Escrow shares contact details and deposit instructions so you know where and how to deliver funds.
2) Earnest money deposit
Your contract sets the amount and method, typically a wire or check due within a few business days. Escrow will acknowledge receipt and track your deposit. Protect yourself from wire fraud: verify wiring instructions by calling the escrow company using a phone number you find independently, not from an email link.
3) Title work and commitment
Escrow orders a title search and issues a title commitment. This report shows current liens, easements, and any requirements the title company needs to insure your ownership. If title issues surface, like an old mortgage that was never released or a judgment, escrow and the parties work to resolve them. Some items are quick fixes; others may delay closing.
4) Inspections, disclosures, and contingencies
You typically have contingencies for inspections, financing, appraisal, and title review. Washington sellers commonly provide a Seller Property Disclosure and, for homes built before 1978, a lead-based paint disclosure. During the inspection window you can negotiate repairs or credits, or proceed as-is based on your contract terms.
5) Loan underwriting and appraisal
If you are financing, your lender orders the appraisal while you provide documentation for underwriting. If the appraisal comes in low, you might renegotiate the price, bring extra cash, adjust loan terms, or use a contingency to cancel, depending on your contract. Federal rules require your lender to deliver a Closing Disclosure at least 3 business days before consummation, and escrow helps coordinate that timing.
6) Final walkthrough and signing
Before signing, you do a final walkthrough to confirm the home’s condition matches the agreement. Escrow then schedules your signing appointment. You’ll review and sign the settlement statement, deed of trust and note if you have a loan, and other affidavits and instructions. Sellers sign deed and payoff documents and complete any title-related affidavits.
7) Funding, recording, and disbursement
After you sign and lender conditions are cleared, the lender sends funds to escrow. Escrow records the deed and your mortgage with the Snohomish County Auditor, often through electronic recording. After confirmation of recording, escrow pays off the seller’s loans, pays commissions and closing costs, handles Washington’s real estate excise tax as required, and wires the seller’s net proceeds. You receive confirmation of recording and final statements, and your title policy is issued after closing.
Typical closing costs in Snohomish County
Closing costs vary by price, loan type, and negotiations. Common items include:
- Lender fees: origination, underwriting, appraisal
- Title insurance: owner’s policy and, if applicable, lender’s policy
- Escrow/settlement fees
- Recording fees and transfer taxes
- Prorations: property taxes and HOA dues
- Brokerage commissions
Local custom in the Seattle area, while negotiable, often looks like this:
- Sellers commonly pay the owner’s title policy and real estate commissions
- Buyers typically pay the lender’s title policy, loan-related fees, and recording fees for the mortgage
- Escrow fees are split or negotiated per contract or MLS norms
Your lender provides a Loan Estimate early on and a final Closing Disclosure before signing. Compare the two and ask questions so you know the exact amount to bring to closing.
REET: What sellers should know
Washington’s real estate excise tax (REET) applies to most sales and is generally paid by the seller unless the contract says otherwise. Rates and rules can change. Escrow prepares the required forms and remits the tax at closing. If you need current rates or filing details, consult the Washington State Department of Revenue and Snohomish County officials.
Avoid delays: Local tips
A smooth Everett closing is about preparation and quick communication.
- Verify wires by phone using a known number to protect against fraud
- Book inspections right away and respond quickly to repair negotiations
- Get your lender all requested documents early to avoid underwriting holds
- Review the title commitment promptly and flag questions for your agent or escrow
- Confirm signing and funding timelines so the 3-day Closing Disclosure window stays on track
What to bring to signing
Buyers
- Government-issued photo ID for all signers
- Funds for closing via cashier’s check or verified wire, per escrow instructions
- Homeowner’s insurance details if required by your lender
- Contact info for your lender and agent
Sellers
- Photo ID for all owners on title
- Keys, garage remotes, and any manuals or warranties you plan to leave for the buyer
- Payoff information for existing loans if not already provided
- Any title or escrow affidavits requested by your closer
Can you close remotely?
Remote online notarization and mail-away signings are increasingly available, subject to your lender’s policies and county recording acceptance. If a party will be out of town, alert your lender and escrow early so they can arrange remote options or a traveling notary.
After closing: What to expect
After recording, escrow provides final settlement statements and confirmation of recording numbers. The title insurer issues your owner’s policy, and your lender receives the lender’s policy if applicable. If you have HOA dues or utilities to transfer, use your final statements to update accounts and keep records for tax season.
Buying in Everett or greater Snohomish County should feel exciting, not stressful. With clear steps, a realistic timeline, and proactive communication, you can move from accepted offer to recorded deed with confidence. If you want local guidance from offer to keys, reach out to Pilchard Properties. We’ll walk you through each step and keep your closing on track.
FAQs
What does escrow do in an Everett home purchase?
- Escrow holds funds and documents, follows written instructions from all parties, coordinates signing, and records the deed and mortgage with the county before disbursing money.
When is ownership legally transferred in Snohomish County?
- Title transfers when the deed is recorded with the Snohomish County Auditor; escrow handles recording once funds and conditions are complete.
How long does closing usually take for Everett buyers?
- Many financed closings take about 30 days, but the range is roughly 14 to 45 days depending on loan type, appraisal timing, title items, and negotiated contingencies.
Who typically pays which closing costs in the Seattle area?
- Custom varies, but sellers often pay the owner’s title policy and commissions, while buyers typically pay loan-related fees, the lender’s title policy, and mortgage recording fees.
What is Washington’s real estate excise tax (REET) and who pays it?
- REET is a transfer tax due on most sales in Washington; it is generally paid by the seller unless your contract states otherwise, and escrow files the required forms.
Can I sign remotely if I am out of town on closing day?
- Often yes, through remote online notarization or a mail-away signing, subject to your lender’s requirements and local recording acceptance; coordinate early with escrow.
How soon do sellers receive their proceeds after closing?
- Usually the same day as recording or within a few business days, depending on payoff processing and wire timing.
