Page 11 - ODONNELL AZHG

THE LIFE OF AN ESCROW

with financing

Offer Accepted & Contract Signed

Mortgage Company Pioneer Title Agency

1 Loan Processing Begins - Buyer’s Escrow is Opened and a Title Report 1

Income, Stability, Credit, and Assets are
Ordered.
Verified Based on Loan Qualification
Requirements.
A Title Examiner Completes the Title 2
Search.
2 Appraisal - A Licensed Appraiser Evaluates

the Property to Determine its Value.
Title is Reviewed for Defects and a 3
Property Search is Conducted for Owners
of Record, Liens, etc.
A Seller Search is also Conducted for Seller
Liens, Lawsuits, Divorces, etc.
3 Loan is Submitted for Approval. A Title Commitment is Provided.

4 Loan is Approved! Escrow Clears Title and Prepares Title 4
Documents for Signing.

5 Lender Sends the Closing Instructions and Escrow Receives Loan Documents, Signs 5
Approved Loan Documents to Escrow for
All Parties, Deposits Closing Funds, and
the Buyer to Sign. Returns Signed Documents to the Lender
for Funding Approval.

6 Lender Approves Executed Loan Final Approval is Received from the Lender 6
and Applicable Documents are Recorded.
Documents and Releases Funds for Close.

Closing & Funding

Pioneer Title Agency 11