Page 13 - Kim Sargent GuideSellerCustom.pdf
P. 13
Life of an Escrow
BUYER SELLER
Selects a Real Estate Agent. The life of an Selects a Real Estate Agent.
Escrow in
BUYER ARIZONA SELLER
Pre-approved by Lender Prepares house for
if new loan is needed. showing & Selling.
BUYER BUYER SELLER
Views home with Selects home and Reviews and accepts
Real Estate Agent. submits contract
contract from BUYER
Inspection report sent to Escrow opened at
applicable parties & Various inspections Driggs Title Agency,
reviewed, notifications sent. ordered. title commitment ordered.
(Deposit of earnest money)
Title commitment received Appraisal Buyer advises
& approved by ordered & completed Driggs Title Agency,
BUYER. for lender. of home insurance company.
Closing Documents
compiled by Loan documents prepared Buyer receives final loan
Driggs Title Agency. by lender & sent to Escrow. approval from lender.
Separate appointments set: BUYER Loan documents returned
BUYER & SELLER Deposits required funds.
sign documents. to lender for review.
Driggs Title Agency
Documents recorded Lender “funds loan” Ensures all contract
and Escrow closed. (sends funds to Escrow). conditions are met.
After recording confirmed, BUYER Final documents sent
Driggs Title Agency Receives keys from to interested parties.
disburses funds. Real Estate Agent.
12
