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The buyer is responsible for applying for his loan. When the buyer's loan is approved and documents are ready for signature, the lender delivers the documents to the escrow holder, usually a week or more before the closing date. The buyer signs all loan documents ahead of the closing date, and the seller signs the deed a few days before closing. One or two days before closing the buyer delivers the remainder of the down payment to the escrow holder. To avoid delaying the closing, the buyer should transfer his down payment funds to a local bank well ahead of close of escrow.
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