Do you have questions on what happens after signing a real estate contract and closing of Escrow? Here are your questions answered….
What’s the difference between “Signing” and “Closing Escrow?”
When people talk about a real estate purchase, they sometimes use the terms “signing” and “closing” interchangeably in reference to the event when the buyers sign documents with Escrow. However, there are several events that take place between the buyer’s signing appointment and the actual closing of the real estate transaction. Let’s take a moment and review that process.
Signing of Documents:
Escrow receives the loan documents (if applicable) from the Lender and prepares them for the buyer to sign along with final statements and any other required documents. Upon receipt of the loan documents from the lender, the escrow closer prepares the HUD 1 settlement statement and all other legal documents required for the transfer of title into the buyers name.
Posted via Seattle Real Estate-Seattle Homes For Sale
Leave A Reply With Facebook