Escrow Flow Chart
- Open Escrow
- Deposit funds
- Loan pre-qualification
- Escrow orders the preliminary title report for buyers to review
- Escrow instructions prepared for reviewing and signing
- Real estate disclosures should be reviewed and executed by all parties
- All following reports and inspections should be ordered: Title, termite, physical inspection, natural hazard disclosure, HOA documents.
- Any additional inspections should be ordered and completed
- Escrow instructions should be completed and turned in to escrow
- Loan should be ready for submission to underwriting and appraisal should be ordered
- Preliminary Title report should be approved by buyers
- Termite report should be reviewed by buyers
- HOA documents should be approved by buyers
- Any request for repairs should be submitted to the sellers
- Appraiser will coordinate access to perform the appraisal
- All contingencies should be removed by buyers on or before the 17th day after acceptance of offer.
- Escrow should detail the file for any outstanding items needed
- Loan should be approved with any conditions applicable
- Escrow will check on loan documents
- Escrow will order the Home warrantee protection plan
- Loan documents should be delivered to escrow
- Escrow will prepare an estimated closing statement for the buyer to approve
- Escrow will schedule an appointment for buyers to sign loan docs
- A final audit of the escrow file for any outstanding documents or items
- Lender will contact buyers with all if any items still needed for funding
- Loan will fund and Escrow will send the Deeds for recording with Title company
- Recording is confirmed by the Title Company and Escrow is closed!!
- Agents will coordinate keys, fobs and remotes for buyer.
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