Page 11 - Kionna Comer AZ Guide

THE LIFE OF AN ESCROW

with financing

01
01
01 02 01 02
02
02
Escrow Opens
Title Examiner
Buyers Income, Stability, Credit,
Loan Processing
Loan Processing Buyers Income, Stability, Credit, Escrow Opens Title Examiner
Completes Title Search
Begins
and Assets are Verified
Begins and Assets are Verified Completes Title Search
03 04 02a 02b 02c
02a
03
02c
02b
04
Conducts
Conducts Reviews for Title Conducts Search
Conducts Search
Reviews for Title
for Seller Liens,
Property Search
Property Search Defects for Seller Liens,
Defects
for Owners of
Appraisal Evaluates
Appraisal Evaluates Loan is Submitted for for Owners of Lawsuits, Divorces,
Lawsuits, Divorces,
Loan is Submitted for
Property Value Approval Record, Liens, etc. Probates, etc.
Record, Liens, etc.
Approval
Property Value
Probates, etc.
05
05
05 05
Loan Approved and
Loan Approved and Commitment for Title
Commitment for Title
Closing Instructions
Closing Instructions Insurance Issued
Insurance Issued
Sent to Title
Sent to Title
06
06
All Parties Agree to Close
All Parties Agree to Close
07 08
08
07
Title & Escrow
Title & Escrow Everyone Signs
Everyone Signs
Prepares Documents
Prepares Documents
Pioneer Title Agency 11