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.
• Submit all other required paperwork as outlined in the Purchase and Sale agreement, such as insurance policies, home warranties, tax receipts, etc. (The escrow officer will provide clear instructions on what is needed.)
• Provide the deed, via the escrow officer.
• Submit all other required paperwork as outlined in the Purchase and Sale agreement, such as insurance policies, home warranties, tax receipts, etc. (The escrow officer 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 and Sale agreement.
• Execute a Deed of Trust to secure the loan.