This is a nice flow chart to understand how escrow works. Thanks to Chicago Title to share with me!
When you write an offer (PSA), you will specify the due dates for when to deliver earnest money deposit (02), when to remove contingencies if any, and when to close the escrow. Escrow officers follow PSA to keep track of necessary activities in order to close escrow on time. If any problem, they will communicate with all the parties involved.
Any questions? Please ask me.