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ESCROW
- Once your offer has been accepted, escrow will be opened.
- Your “good faith” deposit check is cashed within 3 days of the acceptance date.
- The escrow company orders a Preliminary Title Report and send copies to your agent and lender.
- You will be asked how you wish to hold title to the property.
LOAN APPLICATION
- A complete loan application is submitted to the lender of your choice with all necessary documentation.
CONTINGENCY PERIOD
- You receive and approve Selleršs Real Estate Transfer Disclosure Statement
- Your agent discusses the Preliminary Title Report with you for approval
- All physical inspections are completed
- The property appraisal and loan approval are in progress.
HOMEOWNERS’ INSURANCE COVERAGE
- You obtain a Homeowners Insurance Policy for your new home. This information is given to escrow.
- Escrow orders a copy of the insurance policy for your lender prior to close of escrow.
SIGNING DOCUMENTS
- Escrow calls you to set an appointment to sign documents.
- You must have a current photo identification to sign notarized loan documents.
DOWN PAYMENT AND CLOSING FUNDS
- The escrow officer provides you with a Buyer’s Estimated Closing Statement, which itemizes your costs and advises you of total monies due.
FUNDING
- Upon approval of the loan, your lender sends funds to escrow.
CLOSE OF ESCROW
- The deed is recorded at the County Recorder’s Office. You receive the original back from the County Recorder in approximately 6 weeks.
- Keys are transferred from the seller to YOU!
YOU MOVE IN!
We stay on top of escrow for you! Let The Jacques Company professionals keep track of every detail of the process. Click here to contact us, now!
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