Buying a home in Franklin comes with a lot of moving parts, and “escrow” sits at the center of it all. If you are a first-time buyer or relocating to Williamson County, you want a clear path from accepted offer to keys in hand. In this guide, you will learn how earnest money, inspections, title work, and closing timelines typically work in Franklin so you can move forward with confidence. Let’s dive in.

What escrow means in Franklin

Escrow is a neutral process that holds funds and documents while everyone completes their steps to close. Your earnest money, lender funds, closing documents, and title work all flow through the escrow or closing agent. In Franklin, closings are commonly handled by a title company or closing attorney. The exact steps and deadlines come from your purchase contract and your lender’s requirements.

Earnest money basics

Earnest money is your good-faith deposit once your offer is accepted. It is typically applied to your closing costs or down payment at closing. If you cancel under a valid contract contingency, your earnest money is usually returned according to the contract.

Timing and delivery

Your contract will set a deadline for delivering the deposit, often within a few business days of the effective date. The escrow holder can be the title company, a closing attorney, or a broker’s escrow account, and many Franklin buyers deposit with the title company that will handle closing. Always get a written receipt when your deposit is delivered.

Amount and form

Your deposit method can be a cashier’s check, wire transfer, or sometimes a personal check if allowed by the escrow holder. Confirm acceptable forms of payment and wire instructions directly with the closing company. Never send a wire without verifying instructions by phone using a known, trusted number.

If a deal falls through

The contract spells out who receives the earnest money in different scenarios. If there is a dispute, the escrow agent may hold funds until there is mutual written agreement or a court order. Ask your agent to review contingency deadlines with you so you protect your deposit rights.

Inspections and repairs

Most buyers in Franklin perform a general home inspection and often add a termite inspection. Radon, sewer scope, HVAC, roof, chimney, and pool inspections may be added based on the property. You schedule and pay for inspections, and your agent coordinates access.

Inspection window and choices

Tennessee contracts use a defined inspection period. In practice, many Franklin deals use a short window such as 7 to 14 days, but the exact number depends on your contract. After inspections, you can request repairs or credits, accept the home as is, or cancel within the contingency if allowed by your agreement.

Negotiation and final walk-through

Submit any repair requests in writing with clear timelines. Sellers may agree to repairs, offer a credit, or decline. Plan a final walk-through 24 to 48 hours before closing to confirm the home’s condition and that agreed repairs are complete.

Title work and title insurance

Title work confirms the property’s legal status and what must be cleared to give you clean ownership. The title company or closing attorney opens the file, searches county records, and issues a title commitment with requirements and exceptions. Common items in Williamson County can include unreleased deeds of trust, prior liens, judgments, boundary or easement questions, and HOA covenants.

What the title commitment shows

• Schedule A lists basic facts about your transaction.
• Schedule B lists exceptions and restrictions, such as utility easements or recorded covenants.

The closing team resolves required items before closing, like paying off a seller’s mortgage or clearing a lien. Title insurance policies are issued at closing once funds are received and documents are recorded.

Survey and plats

If there are potential boundary questions or lender requirements, the title commitment may call for a survey. Older in-town properties may have unique easements or shared driveways. Newer subdivisions typically have recorded plats and HOA documents that the title team reviews.

Your closing timeline in Franklin

Every contract is unique, but here is a simple path many buyers follow:

• Day 0: Offer accepted; contract becomes effective.
• Days 0–3: Deposit earnest money; title file opened.
• Days 1–14: Complete inspections; submit any repair requests.
• Days 7–21: Lender orders appraisal; underwriting continues.
• Days ~21–45: Title curative items cleared; loan conditions satisfied; Closing Disclosure delivered at least three business days before signing.
• Closing day: Final walk-through, sign documents, fund the loan, record the deed with Williamson County, receive keys.

Your lender and the closing company will keep you updated on timing. Cash purchases can move faster once title work is clear. New construction or complex title issues may extend the schedule.

Who manages closing in Tennessee

In Franklin, a title company or closing attorney typically manages closing. Your contract usually names the closing agent or sets a window to choose one. Expect a title closer or closing attorney to be your single point-of-contact for settlement statements and verified wire instructions. Your lender coordinates appraisal, underwriting, and the Closing Disclosure, which federal rules require you receive at least three business days before closing for most mortgage loans.

Local items to review

• Recording and fees: After funding, the deed and any deed of trust are recorded with the Williamson County Register of Deeds. Your settlement statement will show recording fees and any transfer tax per your contract.
• Property taxes: Taxes are typically prorated at closing according to your contract. Ask the closing company to explain the proration line items.
• HOAs: If the home is in an HOA, the closing team will request HOA documents and a status letter on dues and assessments. Review these as part of your due diligence.

Protect your funds

Wire-fraud is a real risk in real estate. Use these safety steps:

• Verify wiring instructions by calling the title company at a trusted phone number you already have.
• Never act on wiring instructions you receive only by email.
• Confirm the account name and numbers before sending funds.
• Request immediate confirmation once your wire is received.

Closing day checklist

• Bring a current government-issued ID and any required cashier’s check if not wiring.
• Complete a final walk-through to confirm condition and repairs.
• Review your Closing Disclosure and settlement statement carefully.
• Confirm how and when keys will be delivered once funds are received and the deed is recorded.

Practical buyer checklist

• Confirm the named title company or closing attorney in your contract and save their verified phone number.
• Deposit earnest money on time and get a receipt.
• Schedule inspections immediately after the effective date and hire experienced local inspectors.
• Send your lender requested documents promptly to avoid delays.
• Ask the title company for a sample settlement statement and an early walk-through of expected closing costs.
• Plan your walk-through 24–48 hours before closing and verify repairs with invoices if available.

Ready to talk through your plan?

You do not have to navigate escrow alone. If you want step-by-step guidance tailored to Franklin and Williamson County, reach out to The Vande Kamp Group. Our team will coordinate with your lender and the title company, explain each deadline, and keep your closing on track.

The Vande Kamp Group is here to help you buy with confidence.

FAQs

Who holds my earnest money in Franklin?

• The purchase contract names the escrow agent, often the title company handling closing, a closing attorney, or a broker’s escrow account. Always get a written receipt.

Can I wire my earnest money safely?

• Yes. Confirm wiring instructions by phone with the closing company using a known number, and never rely on email instructions alone.

How long is the inspection period in Tennessee?

• It is contract-specific. In practice, many Franklin contracts use a short window such as 7–14 days, but your signed agreement controls the exact timing.

Who pays for owner’s title insurance in Franklin?

• It is negotiable and determined by the contract and local custom. Clarify payment responsibility in writing during offer negotiations.

When do I get my keys after closing in Williamson County?

• Typically after funds are received and the deed is recorded, which can be the same day. Confirm the handoff plan with the title company and your agent.

Do I need a new survey to close?

• Not always. The title commitment or your lender may require one if there are boundary questions or lender conditions; your closing team will advise based on the property.