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Joel Ellowitz
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FHA/VA5.375% APR
15 Year Fixed5.125% APR
30 Year Fixed5.625% APR
Updated 07.05.2009
Featured Home In Taylorsville
FEATURED UTAH HOME
$149,900 - Taylorsville (84123)

This Townhouse/Row-End Condo home built in 1983 and has 2 bedroom(s), 2 bath(s), on 0.01 acres and 1,164 sq. ft.
 
The Closing/Escrow Process

THE CLOSING/ESCROW PROCESS

A step-by-step guide has been created to assist you with the closing process. This will take you from the beginning stages of deciding on a home, to the final stages of completing the sale.

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When the buyer and seller sign the Real Estate Purchase Contract, The REPC is completed. (Under Contract)   Payoffs are updated and assessment for water and sewer, etc. are obtained.   Package is sent back to the lender for approval.
     
The agent orders a commitment for title insurance with the title company. Loan documents are received by the the title company from the lender. Request funds from the lender and approval to record.
     
The REPC is delivered to an escrow officer (title company) Closing notification comes from the lender. When all funds are received the title company records the documents with the county recorder.
     
A title report is prepared by examining documents of public record. Escrow officer prepares buyer's and seller's pertinent documents per the lenders closing instructions.(such as the settlement statement) Disburse Funds to all parties.
     
A commitment for title insurance is delivered to the lender, and the seller's and buyer's agents. The signing of the documents (settlement) takes place. Copies of all documents are given to the appropriate parties. Close File
- Record Documents
- Issue Title Policies
Payoffs are ordered and all exceptions reviewed. File gets reviewed to determine that all conditions have been met and that the documents are properly executed, notarized, and good funds received. Congratulations Property Is Closed!
     
         
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