Prescott Valley Arizona Real Estate Home Buyers Center.

Prescott AZ Real Estate Closing

April 6th, 2007

So you realized that Prescott AZ would be the ideal city to purchase your next home, whether it’s your first, or final, it’s still your home. Then there was the process of finding what you were hoping to find in your desired price range, you’ve gotten over that hurdle and although you had the opportunity to drive around the city and viewed a few homes, there really is no doubt in your mind that the property you’ve decided upon is home.

The negotiation phase has been completed and you’ve put money down, you’ve also traversed the process of financing and have all your ducks in a row.
We’re close folks, we’re really almost walking through the threshhold of our home, so what’s left?

The Closing Process

Two typical methods used to perform closing are:

1. the single face-to-face meeting that involves all of the parties involved in the Prescott real estate transaction (or the representatives of the buyers and sellers), or
2. an escrow closing in which an escrow agent is hired to handle all of the closing activities without the need of the parties involved in the transaction to be present.

I remember when my wife and I purchased our first home in Prescott. The escrow meeting consisted of the escrow agent, the owner of the home and me sitting in the escrow officer’s office. At that time I did not have the first clue to the inner workings of real estate. However, the entire situation was really a wonderful and interesting experience.

Prescott home ownership is not for everyone. For the folks who don’t want to reap the benefits of an increase of equity in their property, there’s the wonderful world of renting.

In the following article we will discuss the closing process in full, this will include where closings are held, the closing agent, the escrow procedure and some of the documents involved in the escrow process.

Until then, please find yourself strolling along the streets and neighborhoods of Prescott realizing that you are now home.

Entry Filed under: Prescott Arizona AZ Real Estate Market