Selling a house? Unsure what to expect as you close? Our experts break down the steps you’ll go through when it comes to title and escrow.
- Your offer on a home has been accepted
- A title search is conducted on the property to determine the status of title
- You put your earnest money into escrow, likely working with an escrow officer
- A preliminary title insurance report is given to you – be sure to read it carefully
Learn more tips and tricks for reading a preliminary title insurance report.
- Escrow orders payoff demands for mortgages and other liens recorded against the property
- You secure home insurance and provide proof of it to your escrow officer
- Loan documents are submitted to escrow on your behalf
- Escrow arranges the signing of documents
- Escrow registers the sale with the county, updating ownership records
- Escrow disburses funds per the terms of the transaction
- Your real estate agent gives you keys: you officially own a home, congratulations!
- The title insurance policies are issued to you, the new homeowner, and to the lender
This article is part of the Home Buyer Guide.