The escrow holder is to satisfy the instructions of the lender(s) prior to using the funds of the lender(s) to complete and close the sale escrow. 6. Discover the California escrow process from start to finish.Learn crucial steps, tips, and FAQs to ensure a smooth transaction. The buyer and seller agree to an escrow timeline during contract negotiations, and each sale varies, but normally escrow takes around 30 to 60 days to close. Non-negotiable certificates of deposit shall be payable to the order of the ESCROW AGENT as trustee under this Escrow Agreement. The first part of the escrow process is the opening of an account in which deposits and any other payments can be held. The statute sets out the requirements for an escrow account. (hereinafter referred to as Contractor), and. , a state or federally chartered bank (hereinafter referred to as Escrow Agent). Property may be cash, insurance policies, securities, powers of attorney, licenses or real estate.