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The Arizona Way -We do Real Estate Closings differently out here. How a transaction proceeds

By Christine L

Real Estate Broker/Owner with Property Cupid, LLC

March 27, 2010 02:07 PM

We do things differently here in Arizona for good or bad. And this is one of the good things. We don't use attorneys for closings.

In Arizona, where we don't all sit at the signing table with our attorneys to buy a house, we rely on Escrow Officers to facilitate the transactions. Buyers go and sign with the officer one day and Sellers go another day. They often never meet with each other. Good Realtors accompany their clients to the signings and help to clear up any last minute glitches. The whole signing experience is much more relaxed than other states. Here is a timeline of how our transactions shape up. AZ Transaction timeline

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Kim Espinoza

Realtor, United Broker's Group, Arizona - Chandler, AZ

Connecting Arizona Buyers and Sellers

Thanks Christine, Great post

I always give my clients a time line for the escrow but I've never re caped it on a calendar. This is a great idea.

Mar 27, 2010 02:12 PM

Lynda Eisenmann

Preferred Home Brokers - Brea, CA

Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Christine,

Similar here is CA, and it's always a surprise to consumers from the east.

Mar 27, 2010 02:16 PM

Candice A. Donofrio

Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ

928-201-4BHC (4242) call/text

Right on. The timeline is nice and tight, and our transactions are going more 45 than 30 but yep, that's how it works in the beautiful land of AZ.

I have so many clients I don't even see during the transaction, let alone sit at a settlement table. I'm not sure how the rest of the world does that. It seems quite formal . . .

Mar 27, 2010 02:23 PM

Wayne and Lynda Gomillion

Real Living Hagan Realtors | Pinehurst ~ Southern Pines, NC - Pinehurst, NC

Thanks for sharing!

Mar 27, 2010 02:34 PM

Christine L

Property Cupid, LLC - Chandler, AZ

Broker

I'm not sure if it is only in the east that the closings are so formal, or if it is also in the midwest. Anyone know?

Mar 27, 2010 02:37 PM

Loan Survivor Real Estate Financing Expert

Purchases, First Time Buyers, Pre-Approvals, Refinance - Birmingham, MI

I didn't see what day the seller signs, but I like the layout and info.

Mar 27, 2010 02:39 PM

Christine, I was just chatting with brokers in TX, IL and KS and they all have 'in person' closings with buyer, seller and agents present at title company. IL says 99% of the time attys too; the other two said not unless there is a 'problem'.

I like our way better. County records, as soon as we get the call it's done. Docs were signed with escrow officer or notary and overnighted in . . .

Mar 27, 2010 03:53 PM

Charles Stallions Real Estate Services

Charles Stallions Real Estate Services Inc - Gulf Breeze, FL

Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

We do the same here, but what a great idea giving a timeline.

Mar 27, 2010 06:28 PM

Candice, I like our way a lot better too! I remember being a first time homebuyer in PA and being so intimidated and nervous with all of these people around the conference table and so worried something was going to go horribly wrong.

Mar 28, 2010 03:43 PM

The Arizona Way -We do Real Estate Closings differently out here. How a transaction proceeds

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