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2020 Buyer's Guide Step 5 Continued

THE ESCROW TIMELINE

Step One: Escrow Opens

Escrow will be opened when the title company is in receipt of a completed and signed purchase contract
including all addendums and amendments.

Step Two: Receipts
The receipt for earnest money is delivered to both agents and the lender within 24 hours of receipt along

with the escrow number and escrow officer's contact information.

Step Three: Escrow Officer Works the File
The Title Commitment is ordered and received, then sent to agents, lender, buyer and seller.
The Homeowner's Association is notified and statements are ordered.

Seller’s written mortgage loan payoffs are ordered.
Lender provides documents to escrow officer.
Upon lender’s authorization, escrow officer schedules signing appointment with buyer and seller.

Step Four:
Escrow signing takes place with both buyer and seller prior to the closing escrow date on the contract.
Both must bring valid photo identification for Notary Public purposes. Upon completion of signing,
documentation is returned to lender for review, approval, and funding. The funding process can take 24
to 48 hours after the lender receives the documentation. Once funds are received the transaction can
record.

Step Five: Escrow Closes
Close of Escrow. Documents are Recorded!

Step Six: Funds and Commissions are Disbursed
Once recording information is confirmed, the funds are disbursed, including commission checks, and
final closing packages are ready for pick up, delivery, or mail.

Active Buyers Network take every measure to ensure a smooth transaction. Communication is the key to

successful escrow; with the assistance of our preferred partnered escrow officers and loan officers we
provide the best possible experience for our customers.

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