Bartlett Real Estate » Sellers » Close of Escrow

Close of Escrow

Several days prior to the close of escrow, or earlier, the seller goes to the title company for a working session to finalize instructions and to sign documents. The seller reviews the closing statement with the disbursements to clear title and the seller gives instructions about how he/she will receive the sale proceeds. Usually the escrow company will wire funds directly to the seller's bank or brokerage account. The seller will sign over a deed which the escrow company will hold in safe keeping. Once there are "good funds" and buyer's and seller's written instructions agree, the title company representative goes to city hall and records the deed. Neither buyer nor seller need to be physically present.

Once the documents have been recorded, the escrow/title company makes monetary disbursements as per the escrow instructions and then calls the real estate agents to inform them that the transaction has been completed. The seller's agent calls the sellers and congratulates them. Your property is SOLD!