1) Escrow Collects Information:
Your Escrow Officer will begin gathering information about the contract, orders the Preliminary Title Report, and verifies all contact information from all parties.
2) The Buyer’s Initial Deposit is Deposited Into Escrow:
If your contract calls for an electronic deposit, use caution, and ONLY obtain wiring instructions directly from your Escrow Officer at Elite Escrow Services.
3) Your Escrow Officer Will Create Escrow Instructions:
When you receive your Escrow Instructions please make sure you, 1) Read the instructions carefully. 2) Fill out all forms completely even though some information may seem repetitive. 3) Let us know if you will be out of town during your escrow. 4) Sellers, let your Escrow Officer know if you have any liens or judgments against you or your property. 5) Be responsive and return paperwork promptly.
* If applicable, escrow receives reports: inspection reports, HOA Docs, home warranty, and preliminary title report.
4) The Closing Process
If the buyer is obtaining a new loan, the escrow officer will work with the lender. The lender will prepare loan documents, which are usually sent to escrow for the Buyer to sign.
5) Final Conditions Are Met
When ALL conditions of the escrow have been met (documents are signed, all final lender conditions are met, signed Escrow Instructions have been received, and the buyer’s money is received into escrow), then documents are sent to the County Recorder’s office. Once documents are "recorded" by the County Recorder, we have “confirmation.” This means escrow is closed!
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If you have any questions please call us at (858) 560-4781 or email AskElite@EliteEscrowServices.com.
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