 The Closing Process
The closing process is the final step in the sale of your home,
and is coordinated between your realtor, escrow officer, and the
title company.
An earnest money deposit from the buyer will display a sincere
intention to you of his or her desire to purchase your property
while the loan is being processed by the lender. The earnest
money deposit will ultimately be credited towards the purchase price of your
home.
The purchase and sales agreement will be reviewed by the closing
officer. At the same time, a title search is conducted to determine
the accuracy of the title, whether or not there are any liens
against your home, and if the title is sound and insurable
or not.
The closing documents are prepared and the escrow officer oversees
the signing between you and the buyer. Once the loan has
been approved and financing is verified, the closing of escrow and the funding of the buyer's loan
will take place, and the new title will be recorded with the County Courthouse.
The escrow officer accounts for all monies. Funds are
distributed, the transaction
is closed, and title changes hands.
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