Updated . Educational only — not tax, legal, or lending advice. Confirm figures with your CPA, the state revenue department, and a lender before you close.
The Closing Date Is the Last Step, Not the First
Work backward from a funding date the lender and the escrow agent will both say out loud. Title mechanics are on title, liens, and escrow. The borrower document stack is on the document checklist.
A workable order
- Offer with a prebuy and a financing contingency, and a deposit that is refundable if those fail.
- Insurance quote for the exact pilots and use. If it will not bind, stop.
- Prebuy and logbook review. Renegotiate or walk on the findings.
- Lender appraisal and commitment. The loan amount follows the appraisal, not the offer, if they differ.
- FAA title search and escrow. Payoff letters for any existing lien. Bill of sale and registration application.
- Funding. The lender wires escrow. Escrow files and pays the seller when the lender’s conditions are met. You do not wire the seller directly because someone is in a hurry.
Sales tax and the first insurance installment are often due the same day as the down payment. Add them before you call the deal funded. State rules start at the tax hub.
Questions buyers actually ask
How long does this take?
A clean piston with a known lender can close in a couple of weeks. A trust, an SBA file, damage history, or a turbine program transfer takes longer. Promise the seller a date only after escrow and the lender have agreed.
Can I close without escrow?
You can. You should not. Escrow is how the lien, the title, and the money change hands together.