Rocker Peter Frampton will celebrate the 35th anniversary of the blockbuster Frampton Comes Alive! in a concert Friday.
Escrow and closing. Finally, you may hear someone refer to the âclosing of escrow.â Thatâs when your purchase is completed. A closing or âescrow officerâ will oversee the final paperwork and handle the exchange of funds and recording of deeds. This person, sometimes an attorney, will ensure that all the money is properly disbursed, that the documents are signed and recorded, and that all necessary conditions are met before closing the escrow.
Illinois' escrow process is similar to other attorney review states in that a real estate attorney is used to consummate the transaction and prepare all the closing documents. There is likely to be an attorney review period (5 days is customary) at the beginning of the process before the contract is finalized and either party can walk away.