The buyer signs all loan documents ahead of the closing date, and the seller signs the deed a few days before closing. One or two days before closing the buyer delivers the remainder of the down payment to the escrow holder. To avoid delaying the closing, the buyer should transfer his down payment funds to a local bank well ahead of close of escrow. Here is where your agent really begins earning his keep. After you have found the home you want to buy, it's time to make an offer.
Offers are always in writing.
There's a saying in California that an offer is only as good as the paper it's written on. The paper used in California is called a Deposit Receipt. All details of the offer are entered on this form, including the description of the property, the price offered, financing terms, duration of the offer, rights of the buyer to inspect the property, which party will pay which fees, etc. Your agent will assist you in setting an opening offer price by providing a list of homes sold recently similar to the one you are interested in buying. Your agent will then present the offer to the sellers and their agent.