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What Is The Standard Escrow Time Period And Is That Even Important?

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Comments & Replies: 1     Views: 621     Posted By: Joel Miller  

Escrow periods vary depending on type of business, licenses involved, and a host of other business for sale factors. Joel Miller (Southern California Elderly Care Home Specialist) initiates this discussion on how long escrow should last and if it's even important on how long it may last.

Topics: Escrow Closing Issues     Tags: buying a business, escrow bulk sales, selling a business



The Buyers are excited! An offer has been accepted. Sellers are making plans. Due diligence has been started, checklists are being created and... wait a minute, escrow has just started and everything is put on hold until escrow has given us the "green light".

In the world of Elderly Care/Assisted Living home sales, a 60 day escrow/closing period is almost a minimum time period for us. Escrow needs plenty of time to cover all of the bulk sales requirements, they need to collect and disseminate pertinent information. Funds are delivered, accounted for and distributed as instructed. State licensing agencies, family members of Residents, Employees and of course Residents need to be notified of a sale taking place. Agreements need to be created, licensing applications need to be submitted and so forth.

Yes, your escrow time period is very important and please do not rush through the process with out taking a considerable amount of care and due diligence with one of the greatest investments you will make. Unless you have a "hole burning in your pocket" to spend that money, take your time.


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Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services

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California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.

Helen Yoo: Escrow & Bulk Sale Services - Southern California

New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.

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