Page 28 - Daphne Axton AZHG
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• Conduct Search on
THE BUYING • Buyer Deposits Earnest
Sellers: liens, divorces,
etc.
Money in Escrow
• Escrow and Title Fees are
PR OCESS • Initial Title and Escrow
Sent to the Lender
Instructions Sent to Buyer
and Seller for Completion
• Payoffs and Other
Requirements are
Completed to Clear Title
• Home Warranty is Ordered
HOMEBUYER • Physical/Pest Inspection • Closing Documents are
• Compare Lenders, Completed Reviewed Before Closing
Determine your Budget, & • Appraisal Ordered and Appointment
Get Pre-Qualified Completed
• Choose a Real Estate Agent • Provide Proof of PIONEER TITLE AGENCY
• Tour Properties, Choose a Homeowner’s Insurance - CLOSE OF ESCROW
Home, Write and Present Coverage • Loan Documents are sent
your Offer • Loan is approved to Pioneer Title Agency and
• Terms are Negotiated and/or PIONEER TITLE AGENCY Signed
Offer is Accepted - ESCROW OPENED • Title and Escrow
Documentation is Signed
LOAN • Accepted Contract Received, • Down Payment and Closing
• Chosen Lender Verifies Escrow Opened, Title Search Costs are Submitted to
Buyer’s Income, Credit, and and Preliminary Report Escrow
Assets Ordered • Lender Submits Funds to
• Contingency Period • Conduct Search on Escrow for Disbursement
• Real Estate Transfer Property: owners of • Deed is Recorded and
Disclosure records, liens, etc. Escrow is Closed
UNDERSTANDING • Provide reassurance for
THE HOME • Avoid disputes with the
Buyer’s
WARRANTY
Buyer for repair and/or
• a replacement of covered of
covered items
home warranty can be
purchased by a Buyer or Seller Most home warranties are
paid at the close of escrow for
to cover many mechanical, the upcoming year. Review
electrical, and plumbing systems the policy closely to be sure
as well as some appliances. you are receiving the desired
Many Sellers choose to purchase protections.
a home warranty plan to:
• Cover repairs that may arise
Sedona, Arizona
while the house is on the Photograph by: Desha Jackson (Tucson River)
market
Pioneer Title Agency 27
