Escrow Process

Resources

  • Purchase Contract accepted and terms agreed upon
  • Contract and Earnest Money deposited with Escrow Company
  • Buyer to meet with lender, complete application and lock in rate
  • Inspections are scheduled (Home, Wood Infestation, Roof, and Pool)
  • Seller's Property Disclosure given to buyer for review (needs to be signed and dated by buyer within 5 days)
  • Property Insurance claims history given to buyer for review
  • Inspection reports(s) reviewed and repair request written and given to seller within 10 days of accepted contract
  • If loan is involved, appraisal is done
  • Title Commitment, CCRs and HOA Disclosures given to buyer for review
  • Buyer secures Homeowner's insurance
  • Escrow Company collects payoffs and other information
  • Buyer conducts final walk-through 3 days prior to recordination and confirms all repairs are completed and invoices provided
  • Buyer & Seller contact all utility companies to connect/disconnect service
  • Signing of documents by both Seller & Buyer at Escrow Company office
  • If loan is involved, signed documents sent to lender for approval
  • After approval of documents, lender wires funds and gives OK to record
  • Documents are recorded at County Recorder office
  • Escrow Company distributes funds and Buyer is given keys to new home!