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When Does A Property Offically Close in Arizona?

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Real Estate Agent with Tierra Antigua Realty SA624527000

In Arizona, as in many state, recordation is the official close of escrow.  Lender loan funding is a critical step and absolutely necessary component of closing but recordation is the final step when ownership actually transfers.  Just because the lender has funded their loan does not necessarily insure recordation. There can be situations where the Title company is not aware that the lender has sent their wired funds and thus this can delay recordation. This occasionally happens during high volume times at the Title companies.  The transaction usually ends by conducting final walk thru 1-3 days before the COE (Close of Escrow date).  Go to title to sign with your agent and title officer.   One the day of our COE date, lender sends funds, and once it offically records, the title/escrow officer calls the agent to let them know.  Once it has offically closed, keys are exchanged and the buyers can start to enjoy their new home.


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