Home buying process part 15

Sign Loan and Escrow Documents

If you cannot physically come to the escrow company, the escrow officer may send a mobile signer to you. You will probably pay extra for this service but for many buyers, it is a beneficial service. Mobile notary signers will come to your home, office or any other place you designate.

  • As with many other aspects of the home-buying process, procedures for escrow vary by locality. For instance, In southern California, you will sign escrow documents shortly after opening escrow; in northern California, you will sign escrow documents along with your loan documents near closing.
  • Bring a valid picture ID. Make sure the name on your ID is the same name as on your loan documents. If you’ve recently married and changed your name, this could cause a problem.
  • Be prepared to spend at least 30 minutes to an hour signing loan documents. You will probably be presented with at least 100 pages to sign.

Deposit Balance of Funds

This is where the rubber meets the road. Now that you have checked out the home to ensure it meets your expectations and your loan is ready to close, this is when you deposit the rest of the down payment and closing costs.

  • Bring a certified check payable to escrow. You cannot deposit cash nor a personal check. Personal checks are acceptable if there is adequate time to clear prior to closing.
  • Expect escrow to pad the amount, so you will receive a refund after closing. Escrow can mail you the check or wire the refund to your bank.
  • Consider asking your bank to wire the funds directly to escrow, saving you the hassle of physically delivering the cashier’s check to escrow.

Close Escrow

Escrow has closed when the title company receives confirmation from the Recorder’s Office that the documents have been recorded. If you and the seller  have signed your escrow and loan documents before 3 pm. you can get possession that day . If it’s not by 3 pm.  then it will be the next business day.

  • Your property deed, seller’s reconveyance and deed of trust will record in the public records. Later, weeks after closing, you will receive the original deed in the mail.
  • The title company will notify your agent when your transaction records, and in turn, it is common for your agent to call you. Many agents are very excited when it’s time to hand over keys on the doorstep to you.
  • After recordation, unless your contract specifies otherwise, the property is yours. Change the locks immediately, and enjoy your new home!


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