Remember: Signing before Closing.
Often, buyers and sellers think that signing and closing are one and the same. They are not. Signing is a prerequisite for closing. Signing and closing are handled by the escrow company.
You may have seen wording like “the transaction is in escrow.” It means that buyer and seller have entered into a mutual agreement and the contract is now with the escrow company. Escrow is a neutral, disinterested party that directs and coordinates all activities from contract to closing. So if it’s signing before closing, what happens between the signing and the closing?[Read more…] about Signing Before Closing