Offer accepted, now the Arizona escrow process takes over, and if you’re arriving from another state, expect it to work differently than you’re used to. Arizona closes through escrow and title companies, not attorneys, on timelines that move quickly by national standards. I’ve shepherded buyers through this process for decades, including many Canadians and East Coasters startled by the differences. Here’s step five of my roadmap: what happens between “accepted” and “keys.”
Opening Escrow and Your Earnest Money
Once both parties sign, escrow opens with a title company, Arizona’s neutral closing agent. Your earnest money deposit goes into escrow, not to the seller, and the title company begins researching the property’s complete recorded history to ensure the title comes to you free and clear: liens, easements, encroachments, and recorded restrictions all surface here. From day one, we run everything in writing, every agreement, counter, and addendum documented and copied to you, and we manage the contract timeline closely, because in Arizona, missed deadlines have real consequences.
The Inspection Period and the BINSR
Arizona’s standard purchase contract gives buyers a due diligence inspection period, commonly ten days, and it’s the most important protection you have. Within it, we bring in licensed inspectors, general plus specialists where warranted. In the desert, that means close attention to the roof, HVAC systems, pool and equipment, and a wood-destroying insect inspection, and in areas like Cave Creek and Carefree, septic systems and wells. Findings go to the seller on Arizona’s Buyer’s Inspection Notice and Seller’s Response, the BINSR, where you can accept, ask for repairs or corrections, or walk away within your rights under the contract. How the BINSR is written materially affects what you get; this is a document worth having an experienced hand draft.
Appraisal and Lending
If you’re financing, your lender orders an independent appraisal to confirm the property supports the loan, based on comparable sales, square footage, and condition. Stay in close communication with your lender throughout; they’ll request documents on their schedule, not yours, and responsiveness keeps your closing date intact. Two weeks out, we confirm with the lender that funding is on track. Cash buyers skip this step entirely, one reason cash closes faster here.
HOA Approval and Documents
Most communities in my service area have homeowners associations, and Arizona requires the HOA’s disclosure package to reach you during the transaction: rules, regulations, financials, and any transfer fees. Read them, this is where you learn what you can park, build, and rent. Where an association requires approval or an application, we submit early and completely so processing never threatens the closing date.
How You Hold Title
Arizona is a community property state, which makes how you take title, community property with right of survivorship, joint tenancy, and other forms, a decision with genuine legal, estate, and tax consequences. I’ll coordinate with the title company, and I recommend a quick consultation with your attorney or tax advisor before signing, especially for out-of-state and international buyers.
Property Insurance
Your lender will require homeowner’s insurance before funding. Shop it, premiums vary widely, and insure the house, not the land beneath it. Higher deductibles and safety-feature discounts can trim premiums meaningfully. I’m happy to recommend experienced insurance agents for every property type, including seasonal-home coverage for part-time residents.
Arizona Escrow FAQ
How long does escrow take in Arizona?
Financed purchases commonly close in roughly 30 to 45 days; cash can close in as little as a week or two. Your contract sets the actual date.
Does Arizona use attorneys for closing?
Not typically. Arizona is an escrow state, licensed title and escrow companies handle closings, which surprises buyers from attorney-closing states. You can always involve your own attorney if you wish.
What is a BINSR?
The Buyer’s Inspection Notice and Seller’s Response, Arizona’s standard form for presenting inspection findings and requesting repairs or corrections within your inspection period. It’s the buyer’s key negotiation moment after contract acceptance.
What inspections should Arizona buyers order?
A general inspection plus, as warranted, roof, HVAC, pool, wood-destroying insect and, in outlying areas, septic and well inspections. I recommend specialists based on the specific property.
Next Step: Moving In
Cleared inspections, funded loan, recorded deed, then it’s yours. Continue to Moving In, revisit Time to Go Shopping or contact me at 480.861.6624 with questions about any stage.