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.
- You put your house on the market
- You accept an offer on your house
- A title search is conducted on you and your property to determine the status of title
- Your buyer deposits earnest money into escrow
- 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 your property
- Your buyer’s loan documents are submitted to escrow
- Escrow arranges the signing of documents
- Escrow receives buyer and lender funds in escrow
- Escrow records the transfer deed with the county
- Escrow disburses funds per the terms of the transaction
- Congratulations, your house is sold!
This article is part of the Home Seller Guide.