• Deposits funds to pay the purchase price, and funds for property and closing costs.
• Provides deed of trust or mortgages needed to secure the loan.
• Arranges for borrowed funds to be deposited into escrow.
• Provides, if required, documents such as inspection reports, insurance policies and lien information to verify compliance to the instructions.
• Deposits the deed to the buyer with the escrow holder.
• Provides evidence to meet the buyer’s condition of sale, such as proof of repair work and inspections.
• Submits other documents, such as tax receipts, mortgage information, insurance policies, and warranties.
• Deposits loan funds, lender instructions, and other loan documents with the escrow holder.
The Escrow Holder
• Serves as a central depository for funds and documents.
• Obtains a title insurance policy, when required.
• Fulfills the lender’s requirements if applicable.
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