Page 12 - Daphne Axton AZHG
P. 12

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
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