Closing Property Title Forward In Arizona
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Transferring property in Arizona entails fulfilling specific legal requirements such as notarization of the deed, including necessary details within the deed, recording it with the county recorder's office, and understanding the potential tax implications for both the giver and receiver.
Transferring a Title and Registration A completed, signed Title and Registration Application. A signed vehicle title. A lien release, if applicable. All applicable title and registration fees. Any other documents that apply (e.g, original or certified copy of power of attorney, personal representative papers, etc.)
– Quitclaim Deed: This deed transfers the grantor's interest in the property without any warranties or guarantees. It is often used for transfers between family members where the grantor may not want to warrant the current status of title.
“Close of escrow” means that both buyer and seller have met the conditions in the homebuying contract and the third party that holds the documents and funds can move forward with the sale.
After the buyer and seller agree to terms of a sale, the transaction goes into escrow, which can take several weeks (30-45 days or more) to reach closing. Escrow can be opened by the buyer or the seller's real estate agent.
It will close when the lender is ready to close. Be sure to check with your lender before making an offer to make sure that the lender is able to perform with the closing date to avoid any delay. The actual time it takes to close on a house in Phoenix is around four to six weeks after offer being accepted.
