Before you can close the deal, the buyer must sign documents with Escrow. The chosen escrow company will prepare a settlement statement that the lender will use to provide the closing disclosure. During the waiting period, your escrow company will prepare escrow and title transfer documents. The lender then forwards necessary documents to be signed to the escrow company before arranging for the buyer's signing appointment.
After the documents have been signed, they are sent to the lender for final review. Once the lender gives approval, the escrow officer is authorized to file transfer documents to the county for recording, which usually takes a day or two.
When all funds have been received, the title insurance company files the Warranty Deed (transfer of property to buyer) and the Deed of Trust. The lender has the first lien on the property until the mortgage is paid.
Ready to sell your home? Schedule an initial consultation with John P. Sharp today. Let's discuss your real estate goals and how we can help you achieve them.
Washington State requires an excise tax to be paid on all real estate transactions that involve conveyance or transfer where consideration is paid. Taxes must be paid before the county can record the deed. Your real estate broker should review this with you as part of their real estate services. Continue on with the Selling Guide.
John P. Sharp, Premium Real Estate Broker with Skyline Properties, Inc.
19515 North Creek Parkway, STE 214, Bothell, Washington 98011, United States
Call us today at 425-230-2525
Copyright © 2021 John P. Sharp
Premium Real Estate Broker with Skyline Properties, Inc.
All Rights Reserved.
This site works best on Chrome and Mobile browsers