Page 11 - Vancouver eGuide

erstanding the Escrow Process Strength | Expertise | Service

foTr thheeStLatiefoef WoafshainngtoEnscrow 165 Years in Business

LiUfnedoerfstaanndEinsgcYroouwr Escrow Transaction

Buyer Start Seller
Selects a realtor Selects a Realtor

Buyer Gets pre-approved by Buyer Selects home and Seller Reviews and accepts
Lender if new loan needed submits contract with Loan contract from Buyer
Buyer Views home with Escrow opened and
Realtor Status Report (LSR)
Inspection reports sent Various inspections ordered preliminary report ordered
Seller completes SI form,
to applicable party, reviewed
FIRPTA & Tax Withholding form

Preliminary report received Appraisal ordered by & Buyer Advises Escrow Company
and approved by Buyer completed for Lender of home insurance company
Loan documents prepared Buyer
Closing documents compiled by Lender & sent to Escrow approval from Lender
by Escrow Company

Separate appointments set: Buyer Deposits required funds Loan documents returned
Buyer & Seller sign documents Lender “funds loan” to Lender for review

Documents recorded (sends funds to escrow) Escrow Company ensures
and escrow closed Buyer Receives keys all contract conditions
have been met
Escrow Company disburses funds from Realtor Final documents sent
to interested parties

spTiolge“daTnosewhingneogloEtaoosdCcfthhrtiiohcsawoegroodALtohigbecrerauCnrymhtoicnoeagnovouetrTsrwitsgleeebeAesnristteiectalrhetas:e,lly ©Copyright 20143 Chicago Title Company. All Rights Reserved.
serving as a Notary Public.”