What Happens During Escrow?
The escrow period gives all parties involved the time needed to comply with the terms of the P urchase C ontract , and to prepare t he transfer ence of Ti tle from the S eller to the B uyer. During this period you will do several things, all of which your agent will help you with:
6 You remove any contingencies by the deadlines committed to in the contract. any Buyer inspections written into the P urchase C ontract. 4 The Lender orders and conducts an Appraisal on the property. 5 You conduct due diligence on the property, and conduct
7 You sign all loan and title documents when they are ready , and send your closing funds to the Title Company. 8 Clos e of Escrow occurs several days after you sign documents.
1 You put down a deposit of 3% of the Purchase Price which is held in Escrow by the Title Company. 2 Your Lender processes your loan and will ask you for vari- ous information needed to fully approve you. 3 You review and sign supplemental Buyer and Seller Disclosures.
Page 11
Escrow Process
Made with FlippingBook - professional solution for displaying marketing and sales documents online