What Is My Role In Escrow?
Both buyers and sellers have responsibilities during the escrow process and must do their respective parts to keep the transaction moving.
The Sellers:
• Carry out all escrow instructions.• Provide the deed, via the escrow officer and listing agent.
• Submit all other required paperwork as outlined in the Purchase Agreement, such as insurance policies, home warranties, tax receipts, etc. (The settlement agent will provide clear instructions on what is needed.)
The Buyers:
• Submit a down payment, plus any other funds required.• Carry out all escrow instructions.
• Approve inspection reports, preliminary title reports, and other items detailed in the Purchase Agreement.
• Execute a Deed of Trust/Mortgage to secure the loan.
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Greg Sheeler
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