When the escrow is opened, an order for a preliminary report/commitment is placed with the title company which shows ownership of a parcel of land and recorded matters that are relative to the property. Then a plan is set for the necessary action and documents required, such as demands for satisfaction of liens and documents for recording instructions and requirements of the new lender. In most areas buyers and sellers instructions are prepared for signature from the information gathered.

Specific Tasks During the Escrow Process