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Tenders
a written offer to purchase (or accepts the Seller's
counter-offer) accompanied by a good faith deposit amount.
Approves
and signs the escrow instructions and other related
instruments required to complete the transaction.
Approves
the preliminary report and any property, disclosure
or inspection report called by the purchase and sale
agreement. (Deposit Receipt)
Approves
and signs new loan documents and fulfills any remaining
conditions contained in the contract, lender's instructions
and/or the escrow instructions.
Deposits
funds necessary to close the escrow. Approves any changes
by signing amendments in the escrow instructions.
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Accepts
the new loan application and other related documents
from the Buyer(s) and begins the qualification process.
Orders
and reviews the property appraisal, credit report, verification
of employment, verification of deposit(s), preliminary
report and other related information.
Submits
the entire package to the loan committee and/or underwriters
for approval. When approved, loan conditions and title
insurance requirements are established.
Informs
Buyer(s) of loan approval terms, commitment expiration
date and provides a good faith estimate of the closing
costs.
Deposits
the new loan documents and instructions with the escrow
holder for Buyer's approval and signature.
Reviews
and approves the executed loan package and coordinates
the loan funding with the escrow officer.
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Receives
an order for escrow and title services.
Orders
the preliminary report and examination on the subject
property from Chicago Title.
Acts
as the impartial "stakeholder" or depository,
in a fiduciary capacity, for all documents and monies
required to complete the transaction per written instructions
of the principals.
Prepares
the escrow instructions and required documents in accordance
with terms of the sale.
With
the authorization from the real estate agent or principal,
orders demands on existing deeds of trust and liens
or judgments, if any. For assumption or subject to loan,
orders the beneficiary's statement or formal assumption
package.
Reviews
documents received in the escrow: preliminary report,
payoff or assumption statements, new loan package and
other related instruments. Reviews the conditions in
the lender's instructions including the hazard and title
insurance requirements.
Presents
the documents, statements, loan package(s), estimated
closing statements and other related documents to the
principal(s) for approval and signature, and requests
the balance of the buyer's funds.
Reviews
the proceeds of the loan(s) from the lender(s).
Determines
when the transaction will be in the position to close
and advises the parties.
Assisted
by title personnel, records the deed, deed of trust
and other documents required to complete the transaction
with the County Recorder and orders the title insurance
policies.
Closes
the escrow by preparing the final settlement statements,
disbursing the proceeds to the Seller, paying off the
existing encumbrances and other obligations. Delivers
the appropriate statements, funds and remaining documents
to the principals, agents and/or lenders.
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Accepts
Buyer's Offer to Purchase and initial good faith deposit
to open escrow.
Submits
documents and information to escrow holder, such as:
addresses of lien holders, tax receipts, equipment warranties,
home warranty contracts, any leases and/or rental agreements.
Approves
and signs the escrow instructions, grant deed and other
related documents required to complete the transaction.
Orders
inspections, receives clearances and approves final
reports and/or repairs to the property as required by
the terms of the purchase and sale agreement (Deposit
Receipt).
Fulfills
any remaining conditions specified in the contract and/or
escrow instructions; approves the pay off demands and/or
beneficiary's statements.
Approves
any final changes by signing amendments to the escrow
instructions or contract.
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Receives
an order for title service.
Examines
the public records affecting the real property and issues
a preliminary report.
Determines
the requirements and documents needed to complete the
transaction and advises the escrow officer and/or agents.
Reviews
and approves the signed documents, releases and the
order for title insurance, prior to the closing date.
When
authorized by the escrow officer, Title Company records
the signed documents with the County Recorder's office
and prepares to issue the title insurance policies.
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