Wednesday, March 26, 2008

All 'Bout Closing - ABC - All 'Bout Closing

I was going to write something like this, but luckily I found this site first, called KnowYourClosing. Great step by step guide to the real estate transaction, from the closing process to title insurance, who is involved and the order stuff happens.

1. It starts when a seller accepts a contract you've put in on their home. You might put down a deposit check to prove you’re serious about the offer. At that point, your settlement agent
(often an attorney, and also sometimes referred to as closing agent,
escrow officer or escrow agent), gets the ball rolling, deposits any
funds you’ve submitted into a special escrow account and puts in requests for title work, or an examination of the home's ownership history.

Highly recommended.

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