The Title Company, Your Lender and Myself

Each of us are responsible to take care of certain aspects of the process. At the end, we all need to come together for you to sign and become an owner!

The lender:

  1. Needs to submit their loan documents to underwriting—the entity responsible for loaning you the   money
  2. The underwriter will review everything, making sure that there are no issues
  3. Once the lender receives the docs back, they will send them to the Title Company

As this point, your escrow officer:

  1. Will work the numbers
  2. Prepare the settlement statement
  3. This document will tell you if and how much you need to bring at closing
  4. It also compiles all prorations (taxes, utilities and irrigation, if applicable)
  5. Early in the process, I can show you copies of this document from previous closings, so you can   understand the various fees you will be paying at closing.
  6. Once the escrow officer has reviewed the package and prepared the settlement statement, you can   go ahead and sign.
  7. Both you and the sellers will have to sign, and in Idaho, each party signs separately, so you will   not actually meet the sellers.
  8. When you sign the documents, you will need your ID (drivers license), and the down payment   amount.
  9. The title company can give you the details of how to pay
  10. Typically, you will need to bring in a cashier’s check

After you and the sellers sign:

  1. The documents will be sent back to the lender
  2. And they will wire the funds to the title company.
  3. Sometimes, they require a certain amount of time for reviewing (24 to 48 hours usually) before   they wire the money

Once the funds arrive at the Title Company:

They will bring paperwork to the County Assessors office to record the transaction

Once the transaction is recorded:

The closing take place. This is when you become a home owner.

  1. At this point, you can get the keys to the property, and move into your home!

Although the process is logical, it can be quite lengthy.

My job as your Realtor

  1. Is to help you successfully manage each phase of the transaction
  2. Make sure each of the various entities working on the deal (the lender and underwriter, the title   company, the inspector, the realtors, and the buyer / sellers) do their part at the appropriate times