I HAVE BEEN TOLD THAT LOAN DOCUMENTS ARE AT ESCROW. WHAT DO I DO NOW?
Once your Escrow Officer prepares your loan documents and final estimates for signing, you will be contacted by a notary to schedule an appointment to sign documents. The time it takes to schedule your appointment depends on how many documents arrived ahead of yours and the time it takes for your lender to approve the final estimate.
DO I HAVE TO COME TO YOUR OFFICE TO SIGN DOCUMENTS?
You may either sign documents in our office or at a location more convenient for you. The notary will work closely with you to coordinate your document signing.
DO I NEED TO BRING ANYTHING WITH ME TO THE SIGNING?
You must bring a driver’s license, passport or DMV issued ID. The notary will work with you on other forms of ID if necessary.
HOW MUCH MONEY DO I NEED TO DEPOSIT AT CLOSING?
The amount to deposit will be provided to you when you sign loan documents.
CAN I BRING A PERSONAL CHECK FOR CLOSING FUNDS?
No. “Good funds” are required to close. Wires transfers are considered good funds and are immediately available for disbursement. If you are unable to wire, please speak with your escrow officer about the use of cashier’s checks as they may qualify, but could significantly delay your closing.
I’VE SIGNED MY LOAN DOCUMENTS. DOES THIS MEAN ESCROW HAS CLOSED?
Not in California. Your transaction will be “closed” once the County Recording Clerk has stamped all recordable documents. This process can take several hours from the time that you deposit your closing funds and the lender deposits the loan funds. A portion of all funds must be distributed to the Title Company that will send the documents to the County Recorder’s office for recording. One thing to remember is that the County Recorder’s office records documents for the entire county, so it may be late in the day before the Recorder’ office confirms the recording with the Title Company.
MY LOAN HAS FUNDED, DOES THIS MEAN ESCROW HAS CLOSED?
No. This means your lender has wired your loan funds to the Title Company so they can send the documents to the County Recorder’s office to record. Closing =Recording.
WHEN DO I GET THE KEYS?
Check with your real estate agent to find out what the terms of your contract are regarding possession and keys. Your keys will be transferred to you by the real estate agents outside of escrow.
WHEN DO I RECEIVE MY GRANT DEED?
All recorded documents will be mailed to you directly from the Recorder’s office within 3-6 weeks
WHAT OTHER DOCUMENTS SHOULD I EXPECT AFTER CLOSING?
You will receive the Final Closing Statement, along with copies of other documents for your records within a few days of closing. Within about 60 days from closing, you should receive the Title Insurance Policy from the Title Company. You may receive insurance policies or other communication from your homeowner’s insurance company as well. You should keep all of these documents and letters in a safe place for future use.
Have more questions that we didn’t answer here? Our Team is always ready to help you, just give us a call or email us at: