Below is a brief explanation of the steps needed to close the purchase of your new home purchase in Portland, Oregon or Vancouver, Washington.

What is Title and Escrow?

When you buy a new home, condo or investment property, the transfer of the title from the seller to you is the final stage of the real estate process. After closing has occurred, the policy is sent to you by your title and escrow professional, the third party that transfers the money and documents (including title and deed) from the buying and selling parties. The escrow company prepares documents, draws up the closing statements, obtains necessary signatures, records documents, and receives and disburses funds.

What happens at Closing?

You will review and sign final paperwork, and bring the balance of the funds required for the down payment. You will be asked to sign the mortgage and any other papers that the lender, and/or other interested parties, may require. Upon conclusion of the closing process, the deed and mortgage will be recorded and all previous obligations of the seller will be discharged. Once the closing papers have been executed and the deed recorded, you can take legal ownership of your new home.

Rest assured that Coldwell Banker Seal is the right Washington and Oregon real estate company to guide you from your initial home search – all the way from CBSeal.com, the Northwest Multiple Listing Service (NWMLS) or the Oregon Multiple Listing Service (RMLS) – through to closing your new home purchase.