Real Estate

How Does The Escrow Process Work In Nevada?

How Does The Escrow Process Work In Nevada?
The escrow process resembles other states where an agent or representative is used to close the transaction. Normally, the buyer's funds are held to a third party until an agent verifies that both parties performed their transactions.

Closing the deal on your home

First, the buyer performs due diligence, disclosures, and inspections. Once a contract is signed and the offer is accepted by the seller, the escrow process can begin. However, an escrow agent is part of the title company.

In Nevada, a property disclosure form must be provided by the seller. Also, buyers are expected to perform inspections during the due diligence period.

If you're borrowing to purchase a home, you should submit a loan application form to the lender. The lender then sends a `Good Faith Estimate' document that shows the estimated closing costs. After that, the buyer sends a series of financial documents for mortgage approval.

The closing process can take a few days or weeks. Once the escrow agent disburses the funds to appropriate parties, the deal is closed, and the buyer can take ownership of the property.

Keep reading our full process on How To Sell Your Home

How Does The Escrow Process Work In Nevada?

Shad Zaman

Real Estate Agent | REALTOR®

Interested in buying or selling a house? To learn more about my services click here.

Home Closing Process
July 1, 2022
by 
Shad Zaman
Home Closing Process

Getting ready to
buy or sell?

See how we can help you

buy or sell your home!