Once the offer is accepted and a closing date agreed upon, escrow is opened. Escrow is the process in which the transaction is completed. Escrow is a neutral third party ensuring all the moving parts of the contact are complete. Your Realtor will coordinate the completion of all necessary forms to the escrow company and monitor the Escrow process until the transaction is complete. After Escrow is opened you will receive a full report detailing the property history for you and your lender to ensure there are no legal encumbrances between a new owner and the property being purchased.
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