Signing Documents And Taking Possession Of Your New Home!
Approximately 5 business days before the intended close of escrow date that both buyer and seller agreed to in the purchase contract, the escrow company will review all documentation with buyers and sellers.
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Documents that will be reviewed and available for signature will be contingency removal forms, all inspections, insurance documentation, Trust deed(s), title reports, and loan documentation, as well as miscellaneous other forms and instructions. Once all signatures have been obtained, the escrow company forwards the loan documentation to the lender and obtains funds on the buyers behalf. Once the funding, has been received, the escrow company then orders the recording of documentation, disburses the funds, records the documentation thereby compelling the closing of escrow. At this time copies of all documentation will be forwarded to the buyer, seller, and the lender as well as all real estate brokerages involved in the transaction. It is NOW that the possession of the real estate transfers from the seller to the buyer.
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