|
|
||
|
||
|
How To Close On Time
The escrow is an impartial, outside party who is responsible for holding the deed or other instrument for the seller until certain conditions are met. Only when all areas of the escrow instructions are completed can the title transfer to the buyer.
FOR YOUR ESCROW TO CLOSE AS SMOOTHLY AND QUICKLY AS POSSIBLE, IT IS IMPORTANT THAT YOU:
Review the preliminary report upon receipt. Look at the name, address, liens, easements, and taxes for any corrections.
If a Statement of Identification is needed, have client complete and return as quickly as possible to clear any discrepancies.
Advise escrow officer if at any time during the course of escrow the closing date should change, additional parties become involved, or if a Quitclaim or Power of Attorney will be needed.
Forward to escrow officer copies of all inspections, reports, and invoices to be paid through escrow.
Advise buyers if they do not have an insurance agent, to obtain one and advise escrow officer of agent’s name and phone number.
Approximately three (3) weeks before close of escrow verify with escrow officer that demands have been ordered
When loan documents have been ordered/received, advise escrow officer of terms of sale (give instructions: who pays what, prorations, holdbacks, etc.)
When signing instructions, make sure everything is signed and notarized where indicated using complete names as typed and ensure that notary seal is clear and legible.
Submit commission disbursement to escrow along with signed instructions.
One day prior to close of escrow, escrow officer must have all funds in the form of certified or cashiers check drawn on a California Bank.
KEEP COMMUNICATION OPEN BETWEEN YOU AND YOUR ESCROW OFFICER.
|
