Page 30 - Seller Consultation Booklet 2022

Life of an

Escrow

STEP ONE

01 YOUR ESCROW OFFICER OPENS
ESCROW..WHERE ALL FUNDS AND
DOCUMENTS TO CLOSE THE HOME ARE SET
ASIDE.

STEP TWO

02 THE ESCROW OFFICER ORDERS A TITLE
COMMITMENT--A PRMOSE TO PROVIDE TITLE
INSURANCE FOR THE PROPERTY. A TITLE
SEARCH IS PERFORMED OF THE PUBLIC
RECORD PERTAINING TO THE PROPERTY.

STEP THREE

03 TO ENSURE THE HOME IS WORTH AS MUCH AS
CONTRACT PRICE, THE LENDER ORDERS AN
APPRAISAL.

STEP FOUR

04 THE TITLE COMPANY RECEIVES THE LOAN
DOCUMENTS FROM THE LENDER, AND THE
ESCROW OFFICER PREPARES THE
REMAINDER OF THE CLOSING DOCUMENTS.

STEP FIVE

05 YOU AND THE BUYER HAVE SEPERATE
SIGNING APPOINTMENTS. BE SURE TO BRING
YOUR ID.