Buying your first home in Cedar City is exciting, but the word “escrow” can feel like a black box. You want to know where your money goes, who does what, and how long it all takes. In this guide, you’ll learn the exact steps of escrow in Iron County, what to expect with inspections, appraisals, HOA documents, and title work, plus simple ways to keep your closing on track. Let’s dive in.
Escrow basics in Cedar City
In Utah, a title company usually serves as the neutral escrow and closing agent. The title company opens the file, holds your earnest money in a trust account, coordinates documents, and facilitates closing.
After you sign closing papers, the title company records the deed and loan documents with the Iron County Recorder. Recording makes your ownership public. Property taxes are prorated at closing and coordinated with the Iron County Treasurer. If the home is in an HOA, the title company gathers HOA documents and an estoppel or resale packet before closing.
Who does what in escrow
- Buyer: You order inspections, provide loan documents and funds, review title and HOA materials, and do the final walk-through.
- Seller: Provides disclosures, allows inspections, clears agreed title issues, and signs closing documents.
- Real estate agents: Keep timelines on track, negotiate repairs or credits, and coordinate with title, lender, and both parties.
- Lender or mortgage broker: Processes your loan, orders appraisal, and issues clear-to-close when all conditions are met.
- Title company and escrow officer: Holds earnest money, performs the title search, issues the title commitment, prepares the closing statement, records documents, and disburses funds.
- Title insurance underwriter: Backs the title policies that protect the lender and, if purchased, you as the owner.
- Iron County Recorder: Records the deed and loan documents that finalize the transfer.
- Iron County Treasurer: Manages property tax records and payments used for prorations at closing.
Step-by-step timeline
A typical Cedar City escrow targets about 30 days, though 21 to 45 days is common depending on financing and title work.
- Contract and earnest money (day 0–3)
- Your offer is accepted and both parties sign. You deposit earnest money per the contract. The title company opens escrow.
- Open escrow and order title (day 0–3)
- The title company orders a title search and starts a preliminary title report or commitment.
- Inspections and requests (days 3–10+)
- You schedule a general home inspection and any specialty inspections. You can request repairs, credits, or cancel within the inspection period.
- Loan, appraisal, underwriting (days 7–30)
- Your lender orders the appraisal and verifies your income and assets. Appraisal must support the loan amount.
- Title commitment and curative (ongoing)
- The title commitment lists items that must be cleared, such as old liens or judgments. The seller or title company coordinates clearance.
- HOA documents and extras (varies)
- If there is an HOA, the estoppel or resale packet is ordered. This can take several days to a couple of weeks. Surveys or pest reports may be ordered if needed.
- Remove contingencies (around days 21–40)
- You remove inspection, financing, appraisal, and title contingencies as deadlines approach. The lender issues clear-to-close when all conditions are met.
- Sign and fund (closing day)
- You and the seller sign closing documents. Funds are wired to the title company, following verified instructions.
- Recording and keys (same day or within 24–48 hours)
- The title company records with the county. After recording and funding, the title company disburses funds and you receive keys.
Key contingencies you will manage
Inspection contingency
- Purpose: Identify defects and negotiate repairs or credits.
- Typical timing: Often 7 to 14 days. Negotiations may extend a bit.
- Local note: Termite or wood-destroying organism inspections are common in parts of Utah and may be required by your lender or insurance.
Financing and appraisal contingencies
- Purpose: Protect you if financing cannot be obtained or if the appraisal comes in low.
- Timing: Aligned with underwriting and appraisal schedule. Provide documents to your lender promptly.
- If the appraisal is low: You and the seller may renegotiate price, you may make up the difference, or you can cancel if protected by the contract.
Title commitment review
- Purpose: Review exceptions such as liens, judgments, easements, or missing releases.
- Resolution: The seller typically clears liens. Some issues may require escrow holdbacks or extra time.
HOA and CC&R review
- Purpose: Review HOA rules, budget, and fees. You can cancel within the contract window if documents are unacceptable to you.
- Note: HOA estoppels and resale packets can be a common cause of delay.
Sale of your current home contingency
- Purpose: Your purchase depends on selling your current home. These clauses have set timelines and can affect offer strength.
Title insurance and survey
- Lender requirement: Your lender requires a lender’s title policy. Buyers commonly purchase an owner’s policy for added protection.
- Boundary items: Any survey or boundary issues must be addressed prior to closing.
If a contingency is not removed by the deadline, the contract outlines next steps. In many cases, the seller can issue a notice to cure, the contingency may be deemed waived, or you can cancel if a valid contingency is not met.
Earnest money and safety
Your earnest money is held in a trust account by the title or escrow company. Release of funds follows the contract and requires mutually agreed instructions or specific remedies stated in the agreement. If a dispute occurs, the funds may remain in escrow until the parties reach a resolution or a court directs the release.
Recording, funding, and your keys
On closing day, you sign, the lender authorizes funding, and the title company records the deed and loan documents with the Iron County Recorder. Recording often happens the same day or within 24 to 48 hours. Once recorded and funded, the title company disburses money to the seller, pays off any existing liens, and you receive keys.
Common delays and how to avoid them
Frequent causes of delay:
- Low appraisal compared to the purchase price
- Title defects that need clearance, such as liens or judgments
- Slow HOA estoppel or resale packet
- Late loan conditions or missing documents
- Survey or pest issues
- Wire fraud concerns or misdirected funds
Action steps that keep you on track:
- Send your lender requested documents immediately after your offer is accepted.
- Schedule inspections early and submit repair requests quickly.
- Request the HOA estoppel early and follow up on timing.
- Review the title commitment as soon as it arrives and ask questions right away.
- Secure homeowner’s insurance early, as your lender will require it.
- Verify wiring instructions by calling the title company at a known number before sending any funds. Do not rely on email alone.
- Build a small buffer into your closing date if the market allows, in case of administrative delays.
Closing day checklist
- Government-issued ID for each signer
- Certified funds or verified wire sent in time
- Final loan approval and Closing Disclosure reviewed
- Final walk-through completed and items confirmed
- Utilities scheduled to start in your name
- Keys and access codes coordinated with your agent
How a title-savvy local agent helps
Escrow moves faster when your agent can spot issues early and speak the language of title and escrow. With a background in title, escrow, and construction, your agent can help you:
- Identify title exceptions and sequence curative items early
- Coordinate payoffs, HOA estoppels, and recording logistics efficiently
- Explain the title commitment in plain language so you know what matters
- Anticipate inspection issues and budget for practical fixes
If you want a steady hand from offer to recording, you deserve a partner who treats your timeline like their own and keeps the surprises to a minimum.
Ready to talk through your plan or timeline? Reach out to Brett Taylor for local guidance that keeps escrow smooth from start to finish.
FAQs
How long does escrow take in Cedar City?
- Most buyers close in about 30 days, but 21 to 45 days is common based on lender timing, title work, HOA turnaround, and any post-inspection negotiations.
Is my earnest money safe during escrow?
- Yes. Your earnest money is held by a neutral title or escrow company in a trust account and is released according to the contract and mutual instructions.
What if the appraisal comes in low?
- You and the seller can renegotiate, you can bring additional funds, or you may cancel if your contract includes appraisal protection within the financing contingency.
What does a title commitment mean for me as a buyer?
- It lists recorded items that affect the property and what must be cleared before closing. You review it and can request curative actions for unacceptable exceptions.
How do HOA documents affect closing?
- You review the HOA’s rules, fees, and financials. The estoppel or resale packet can take days to weeks, so starting early helps avoid closing delays.
When do I get my keys?
- After documents are recorded with the Iron County Recorder and funds disburse, the title company confirms closing and you receive keys, often the same day or within 24 to 48 hours.
