Escrow is opened with a local title company.
• Earnest Money Deposit (EMD) submitted within 1–3 business days.
• Escrow officer assigned and file number issued.
• Earnest money held in neutral escrow trust account until closing.
• Preliminary Title Report ordered.
• HOA documents and demand letter requested (if applicable).
• Seller payoff demand ordered (if loan exists).
• Tax information gathered.
• Preliminary report shows ownership, liens, easements, CC&Rs;, taxes.
• Home inspection.
• Pest inspection (optional).
• Sewer inspection (common in older Reno/Sparks areas).
• Appraisal ordered by lender.
• Loan underwriting process.
• Buyer may request repairs or credits during this period.
• Owner’s Title Policy – Typically paid by Seller.
• Lender’s Title Policy – Paid by Buyer.
• Protects against unknown liens, recording errors, ownership disputes, clerical mistakes.
• One-time fee paid at closing.
• Escrow Fees – 50/50 Buyer & Seller.
• Owner’s Title Policy – Seller.
• Lender’s Title Policy – Buyer.
• Real Property Transfer Tax ($1.95 per $500 of value) – Seller.
• Appraisal & Loan Fees – Buyer.
• Recording Fees – Varies.
• Example: $800,000 sale » $3,120 transfer tax.
• Conditional approval issued.
• Final approval.
• Clear to Close.
• Escrow prepares final settlement statement.
• Buyer wires closing funds.
• Lender wires loan funds.
• Escrow confirms funds received.
• Deed recorded with Washoe County.
• Property transfers. Keys released. Escrow closes.
• Buyer signs loan documents, disclosures, settlement statement.
• Seller signs deed and closing documents.
• Valid government ID required.
If you are unable to meet at the office, a mobile notary can come to you.
• Cash: 10–21 days.
• Financed: 30–45 days
• HOA resale packages required in HOA communities.
• Snow removal districts and SIDs may appear on title.
• Well and septic properties require additional inspections.
• Rural properties may involve water rights.
• Escrow is a neutral third party following the contract.
• Holds funds securely.
• Ensures all conditions are met.
• Transfers title properly.
• Records documents legally.
• Everything documented. No shortcuts.