Page 10 - John Lorson_Seller_Guide

Steps In The Home

Purchase Process

• Loan Status Report (LSR)

• Contract negotiation and acceptance Sellers Property Disclosure (SPD)

• Escrow is opened and Title Commitment is ordered

• Begin loan process

• Home inspections period. Contact hazard insurance company to verify property and individual
insurability

• Appraisal is ordered by lender

• Loan documents drawn by lender

• Loan and escrow documents signed at Driggs Title Agency/final closing deposit is made

• Funding by lender

• Recordation of loan and escrow documents with County Recorder

• Property transfer is complete

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