Page 11 - 77177_Teton_Wilson_ABN_Buyer's_Guide
P. 11
2020 Buyer's Guide Step 5
THE FUNCTION OF TITLE & ESCROW
During the "Escrow Period," the Title and Escrow company will order, receive, and preview the
TITLE COMMITMENT.
In addition, all of the following:
Act as a neutral 3rd party & hold the earnest deposit in their trust account.
Send out the copies of the CC&Rs and the Title Commitment to appropriate parties within 3-5
business days whenever possible.
Work with the seller and their lender to pay off all the loans they may have on the property.
Order all required information, forms, etc. from the Home Owner's Associations if applicable
Prepare Settlement Statement and Closing Documents after receipt of loan package from the lender.
Coordinate and prorate the taxes, along with any homeowners insurance payments necessary for the
final documents.
Review the file for all Payoffs, Home Warranty, Termite Report, Insurance, etc. and contact
appropriate parties as needed.
Arrange time for both Buyer and Seller to come into the office to sign all necessary documents.
Facilitate the actual signing of all paperwork.
Coordinate with the lender to arrange for all the funds to be received in a timely manner.
Record all documents with the County Recorders Office. Disburse copies of all documents and
monies to the appropriate parties.
Issue Title Insurance to protect you should there be a problem with the title in the future.
Our Preferred Title & Escrow Officer
Amber Diaz - Driggs Title Agency
Phone: 480-237-4586
Email: amberd@driggstitle.com
9
