The escrow flow chart
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What is What is ESCROW NEW OWNER! Payments to Lender PURCHASE & SALE AGREEMENT Selling Agent – Buyer Buyer Loan Applicaon Lisng Agent – Seller REVIEW & CLEAR TITLE Insurance Binder LENDER Mortgage Insurance Underwriter Loan Approval VERIFICATION Buyers Funds Employment Appraisal Credit Report DETERMINE STATUS Homeowners Dues Fees/Commissions Taxes Liens Mortgages CLOSING STATEMENT & ESCROW INSTRUCTIONS RECORD & DISBURSE FUNDS OVERSEE CLOSING DOCUMENTS SIGNED PREPARE LEGAL DOCUMENTS Escrow is an arrangement in which a neutral third party (escrow agent) takes instrucon from buyer and seller to process documentaon and handle funds in the real estate transacons. Escrow? Were you aware that all of this went into an Escrow? TITLE INSURANCE Check Taxes & Legal Title Search Examinaon Issue Commitment Record Documents Issue Policy to Lender Issue Policy to Owner
description
the escrow process
Transcript of The escrow flow chart
What isWhat is
ESCROW
New OwNer!Payments to Lender
Purchase & sale agreemeNt
Selling Agent – BuyerBuyer Loan Application
Listing Agent – Sellerreview &
clear title
Insurance Binder
leNderMortgage Insurance
UnderwriterLoan Approval
verificatiONBuyers FundsEmployment
AppraisalCredit Report
determiNe statusHomeowners DuesFees/Commissions
TaxesLiens
Mortgages
clOsiNg statemeNt & escrOw
iNstructiONs
recOrd & disburse fuNds
Oversee clOsiNg dOcumeNts sigNed
PrePare legal dOcumeNts
Escrow is an arrangement in which a neutral third party (escrow agent) takes instruction from buyer and seller to process documentation and handle funds in the real estate transactions.
Escrow?
Were you
aware that
all of this
went into an
Escrow?
title iNsuraNceCheck Taxes & Legal
Title SearchExamination
Issue CommitmentRecord Documents
Issue Policy to LenderIssue Policy to Owner
