The Seller(s) & their Realtor®

Accepts "Offer to Purchase" from the Buyer(s) along with a "good faith deposit."

Submits documents and/or information about lien holders, tax receipts, home warranty contracts, leases and/or rental agreements, etc., to the escrow holder.

Reviews, approves, and signs the escrow instructions, the grant deed, and any other related documents required for the transaction.

Orders inspections, receives clearances, approves reports/repairs, as required by the "Deposit Receipt" (purchase and sale agreement) terms.

Satisfies any other conditions specified in the contract and/or escrow instructions.

Approves the pay off demands and/or beneficiary's statements.

Approves and signs any amendments to the escrow instructions or contract.

The Escrow Company

Receives the order for escrow services. This is often from the Buyer or the Buyer's agent, but either party can submit the request.

Orders the "title search and examination" for the property from the title company.

Acts as the impartial party that holds the documents and funds required for the transaction, according to the escrow instructions that have been prepared the principals.

Prepares the official escrow instructions and documents required by the terms of the sale.

As authorized by the real estate agent or the principal, orders "demands on existing deeds of trust and liens or judgments," if any. If applicable, orders beneficiary's statement for loan assumption or official assumption package.

Receives documents and reviews them: preliminary title report, loan payoff or loan assumption statements, new loan materials, etc.

Reviews the conditions in the instructions from the lender, including hazard and title insurance requirements.

Presents to the principal(s) the documents, loan package(s), statements, estimated closing statements, etc., for approval and signature.

Requests balance of funds from the buyer(s).

Reviews all signed instructions and other documents of the loan package, returns it to the lender, and requests the funds.

Receives the borrowed funds from the lender.

Advises the parties as to when the transaction will be closed.

Records the deed, deed of trust, and other required documents with the County Recorder.

Orders title insurance policies.

Prepares final settlement statements, disburses proceeds to the Seller, pays off existing obligations, and closes the escrow.

Delivers statements, funds, and other documents to the appropriate principals, agents, and/or lenders.

The Buyer(s) & their Realtor®

Submits a written offer to purchase and a "good faith deposit" to the Seller.

If needed, completes the forms required to apply for a new loan. Sometimes loan application fees must accompany the application to pay for credit evaluations and property appraisal services.

Reviews, approves, and signs the escrow instructions, the grant deed, and any other related documents required for the transaction.

Reviews/approves preliminary reports, inspection and/or disclosure reports, as required by the "Deposit Receipt" (purchase and sale agreement) terms.

Reviews, approves, and signs the loan documents received from the lender.

Satisfies any other conditions of the contract, the lender's instructions, and the escrow instructions.

Deposits any funds needed into the escrow account.

Approves and signs any amendments to the escrow instructions or contract.

The Title Company

Receives the request for the title services.

Issues a preliminary report on the title to the property.

Sets the requirements and identifies the documents necessary to complete the transaction.

Informs the escrow officer and/or real estate agents of the requirements.

Reviews and approves the signed documents, the releases, and the order for title insurance.

Following authorization by the escrow officer, records the signed documents with the County Recorder.

Issues the title insurance policies.

The Lender

Receives the loan application from the Buyer along with any other documents required to begin the loan-qualification process.

Orders appraisal of the property, credit report(s), employment verification, good faith deposit verification, preliminary title report, and other documents and/or reports as necessary.

Obtains approval of the loan package from the loan committee and/or underwriters.

Establishes loan conditions and title insurance requirements.

Notifies Buyer of the terms of loan approval, expiration date of the commitment, and estimate of the closing costs.

Submits the loan documents and instructions to the escrow officer (who obtains the Buyer's approval and signatures).

Receives the loan package with all signatures.

Coordinates the funding of the loan with the escrow officer.