A Seller's Guide to the Escrow Process
Congratulations! You've successfully sold your home and are ready to open escrow. Whether you're a seasoned seller or need a refresher on the process, Elite Escrow Services is here to guide you through every step of the way. As experts in the field, we'll walk you through the essential stages of your escrow, ensuring a smooth and hassle-free experience.
Opening Escrow:
Your real estate agent will kickstart the process by opening escrow with Elite Escrow Services. Shortly after, you can expect an introductory email from your escrow team. This email will contain crucial details about your transaction, including your unique escrow number, and step-by-step instructions for filling out the necessary paperwork.
Get Ready to Answer Questions:
To ensure a seamless process, our team will inquire about key details, such as your marital status and the individuals listed on the property's title.
Please note: If your property is held in a Trust, you'll be required to provide us with a copy of the Trust. Additionally, having a bank account in the Trust's name is necessary before we can close escrow.
Completing Essential Paperwork:
The first form you will be given is a “Statement of Information.” This form requests personal information, and although sometimes questions can be repetitive, the form needs to be completely filled out and returned as soon as possible. Timely completion of paperwork is crucial to meeting contract deadlines.
Providing Property-Related Information:
If applicable, you will need to provide escrow with complete details of your mortgage, solar, and HOA (homeowners association).
If you have an HOA or multiple HOA’s, be prepared to pay up front fees for those documents. This needs to be done immediately upon opening escrow to meet your contract timelines.
The Closing Phase:
Once all the conditions of the escrow are met, all required documents have been signed and completed, and the Buyer's closing funds have been received, escrow will prepare the file for recording with the Title Company.
After Title confirms recording, our team will notify the respective Real Estate Agents. They will then facilitate the exchange of keys between the Buyers and Sellers, marking the successful completion of your escrow journey.
Congratulations on the sale of your home! If you have any further questions or require assistance regarding the escrow process in California, please don't hesitate to visit our FAQ page on our website or call us at (858) 560-4781.
At Elite Escrow Services of San Diego, we pride ourselves on setting the standard for escrow proficiency and expertise. With decades of experience helping a wide variety of clients, you can rely on us for unparalleled guidance.