Page 9 - Montana Home Sellers Guide
P. 9
ESCROW FLOWCHART
Buyer Start Seller
selects a Realtor selects a Realtor
Buyer gets pre-approved by Seller reviews and accepts
Lender if new loan needed contract from Buyer
Buyer views home with Buyer selects home and Escrow opened and
Realtor submits contract offer, if preliminary report ordered
contract gets accepted
Inspection reports sent Seller completes SI form,
to applicable party for Various inspections ordered & Tax Withholding form
review
Preliminary report received Appraisal ordered by & Buyer advises Escrow Company
and approved by Buyer completed for Lender of home insurance company
Closing documents compiled Loan documents prepared by Buyer receives final loan
by Escrow Company Lender & sent to Escrow approval from Lender
Separate appointments set: Loan documents returned to
Buyer & Seller sign documents Buyer Deposits required funds Lender for review
Documents recorded Lender “funds loan” Escrow Company ensures
and escrow closed (sends funds to escrow) all contract conditions
have been met
After recording confirmed, Buyer Receives keys Final documents sent to
Escrow Company disburses funds from Realtor appropriate parties
Strength | Expertise | Service 9
