
1 minute read
Your Escrow Professional May:
from Buyers Guide
by FirstAmAZ
Open escrow and, if instructed to do so, deposit your good faith funds in a separate escrow account
Order a title search to determine ownership and status of the subject real property
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Issue a preliminary report and begin the process of eliminating the title exceptions you and your lender are not willing to take title subject to
Request payoff information for the seller's loans, other liens, homeowner's association fees, etc.
Coordinate with the buyer’s lender on the preparation of the Closing Disclosure (CD)
Prorate fees, such as real property taxes, per the contract, and prepare the settlement statement
Set separate appointments allowing the seller and you to sign documents and deposit funds
Review documents ensuring all conditions and legal requirements are fulfilled; request funds from lender
When all funds are deposited, record documents with the County Recorder's Office to transfer the subject real property to you
After the recordation is confirmed, close escrow and disburse funds, including Seller's proceeds, loan payoffs, etc.
Prepare and send final documents to all parties involved