Once the offer gets accepted, the following steps are followed to ensure a successful escrow:
A Transaction Coordinator is assigned. Escrow Account is created, your initial deposit is made. We also start gathering all the Seller’s Disclosures, if they were not previously available.
Your Lender is updated with the Purchase Agreement, Addenda and the Counter Offers. Property Appraisal is initiated immediately.
Any required property Inspections are identified. HOA docs (if applicable) are requested & reviewed.
Your Realtor would personally attend the Inspections and discuss the details with the property inspectors. Your presence is important but not mandatory.
The Inspection Reports, Seller’s Disclosures & HOA Docs are presented to you and the summary is discussed in detail with you.
Follow-up with on the Appraisal.
Re-Negotiate the purchase price, if applicable — Based on the Appraisal, Inspections and the Disclosures.
Sign the Disclosures, HOA Docs and Inspection Reports. Determine how to hold the Title.
Go over the Loan Estimates from the Bank and update you.
Remove the Contingencies.
Wait for the CD (Closing Disclosures) from the Bank.
Verify the contents of the CD and get the Down Payment ready.
Tour the property for the Final Verification.
Final Signing of the docs & Down payment, at the Title Company.
Loan Funding, Confirmation of the Recording and Handing over the Keys.
