Escrow Thursday: After There is a Signed Puchase and Sale Agreement

After There is a Signed Purchase and Sale Agreement

  • Once you have a mutually accepted purchase and sale agreement, your broker will contact the title company and update the file with the buyer and lender information
  • The title unit will send out updated commitment to all parties in the transaction within a few days via email and hard copy, as applicable
  • Send earnest money check to title and escrow within 3 days of receipt or mutual acceptance
  • Escrow will send a receipt for the earnest money once it’s been received
  • The day they receive set-up, your Escrow Closer will contact the seller and buyer  to introduce themselves and their team
  • Escrow will begin to request information from the seller and underlying lender regarding pay-offs.  Call immediately if you have any questions or concerns
  • Escrow will receive and review loan documents and will prepare settlement (HUD) statements
  • Carefully review the settlement statement and documents with your seller and contact your Closer with any questions
  • Your seller will sign within a week of the final closing date
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