Page 13 - Anthony Barajas_DTA Seller Guide AZ
P. 13

Life of an Escrow






                               BUYER                                                          SELLER
                          Selects a Real Estate Agent.   The life of an                 Selects a Real Estate Agent.
                                                           Escrow in
                                                        ARIZONA
                               BUYER                                                          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
                            BUYER & SELLER                Deposits required funds.       Loan documents returned
                             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.








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