Title & Escrow
Whether you are buying or selling, you will be going through the escrow process. Title search is done on the property, assuring that the deed can legally be conveyed to another person. Also during this search all encumbrances on the property are revealed. Such as liens, easements, mortgages, etc.
Escrow is where all the legal paper shuffling takes place. Based on the instructions of the purchase and sale, and lender, the escrow officer prepares all the documentation needed to close the transaction. You are often asked to provide information to escrow to help them with the process. They are also responsible for pro-rating any water, sewer, propane, taxes due at the time of closing.
Closing. Closing is a word used to state the day the sale must be funded and the transfer recorded. Although, you will often hear an agent or the escrow officer refer to your "closing appointment." This is the day you sign all the necessary documentation. It is typically a day or two before the actual closing (recording) date.
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