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Escrow Professional

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 Escrow Professional Company provides settlement services for residential mortgage lenders and closing services for real estate brokerage. Their highly trained staff is courteous and knowledgeable, handling every aspect of your real estate transaction with great care and attention to detail.

We have provided this guide “Selling Your Home Step by Step”to answer many of those questions you may have throughout your transaction.

 

PHASE 1
Marketing You Property:
1
Initial Step
Listing Agent makes Seller contact
2
Listing Agent compiles market statistics for Competitive Market Analysis
3
Listing Agent obtains pertinent public record information
4
Agreement on listing price and terms
5
Seller completes Property Disclosure Form including appliance brand names
6
Listing Agent prepares Listing Agreement
7
Abstract location verified with agent
8
Listing Agent establishes a marketing strategy with Seller’s approval
9
Listing Agreement submitted to MLS Homeowner Warranty is applied for
10
Listing agent to obtain abstract and all pertinent information from seller; marital status, SS#,
loan info
11
Purchase Agreement written
12
Listing and Sales Agent participate in negotiations
PHASE 2
              Processing:                        Cash Contract:       Lender:
1
Listing Agent checks for clarity on all forms and proper use of forms.
2
Purchase agreement accepted.
1
Agent to obtain a completed Settlement Agreement from the buyer.
1
Lender takes Buyer’s loan application and sends abstract/title order to listing agent's closer.
3
Purchase agreement reviewed by Manager.
4
Administrative Assistant enters information in computer and forwards originals to the Closer
2
Closer verifies that the listing agent's closer will order abstract/title and termite.
2
When applicable, lender orders job verification; verifies checking and savings accounts; orders credit report and appraisal.
5
Closer reviews the transaction file and requests any additional info necessary to proceed and emails to listing & selling agents.
6
Closer requests the abstract/title order from the buyers lender
3
Closer receives title and closing information from listing agent's closer.
3
Lender checks all verifications for accuracy and completeness.
7
Upon receipt of the lender's abstract/title order-the closer will order abstract, title and termite
8
Closer receives title opinion; reviews for title problems and emails to listing & selling agents
4
Closer orders payoff statements on behalf of the seller.
4
Lender submits Buyer’s documents and appraisal to Underwriter for loan approval.
9
Closer receives termite report and reviews. If problems, report is sent to all agents & lender
10
Closer requests attorney to prepare necessary documents to clear title
5
Closer prepares settlement statements. Requests closing documents from the listing and selling agents.
5
Buyer’s sign note and mortgage. Lender collects money due.
11
Closer prepares Declaration of Value, Ground Water Statement, Tax Proration for Buyer’s and Seller’s signatures and then emails closing docs to listing agent
12
Closer requests, receives and reviews HUD statement
6
Closer handles the disbursement of funds and filing.
6
Lender sends abstract and documents to be recorded to Abstractor
13
Closer prepares closing statement for Seller signature..
 
 
 
PHASE THREE – Final Step
Buyers take possession and are new title holders.
 
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©2014, Coldwell Banker Mid-America Group, REALTORS - Serving Des Moines area. Licensed in Iowa. Equal Housing Opportunity. West Des Moines, Iowa. The Coldwell Banker name and trade mark are licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

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