Escrow - MyTicor

What Happens Between Signing and Closing of Escrow…

On October 25, 2011 / Blog, Escrow

Note: This Article was originally published October 25, 2011. An updated version with current information is available here: What’s the Difference Between Signing and Closing Escrow

What’s the difference between “Signing” and “Closing Escrow?”

When people talk about a real estate purchase, they sometimes use the terms “signing” and “closing” interchangeably in reference to the event when the buyers sign documents with Escrow. However, there are several events that take place between the buyer’s signing appointment and the actual closing of the real estate transaction. Let’s take a moment and review that process.

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Download a printable article here: What Happens Between Signing and Closing of Escrow

Signing of Documents:

Escrow receives the loan documents (if applicable) from the Lender and prepares them for the buyer to sign along with final statements and any other required documents. Upon receipt of the loan documents from the lender, the escrow closer prepares the HUD 1 settlement statement and all other legal documents required for the transfer of title into the buyers name.

Lender Reviews Documents & Funds the Loan:

Once the loan documents have been signed, the escrow officer delivers them back to the lender for review. When the lender is satisfied that all required documents have been signed and all outstanding loan conditions have been met, the lender will notify escrow that they are ready to disburse the loan funds to escrow. Upon receipt of the wire from the lender, the escrow officer is authorized to send the transfer documents to the county for recording. The time frame for review is normally 24 to 48 hours.

Excise Tax:

Real estate transactions in Washington State that involve conveyance of property require consideration of Excise Tax. All appropriate tax amounts must be paid before the county will allow the Deed conveying title to be recorded.

Deed of Trust:

A legal document that evidences an agreement of a borrower to transfer legal title to real property to an impartial third party, a trustee, for the benefit of a lender, as security for the borrowers debt.

Warranty Deed:

The legal document used in most states by which title to real estate is conveyed from one party to another.

Recording is Authorized:

Once recording is authorized by the lender, documents are hand carried (in most cases) to the county recorder’s office by the title insurance company. The Warranty Deed is recorded first, showing the transfer of the property to the buyer, with the Deed of Trust recorded next. Recording the Deed of Trust just after the Deed insures the lender’s first lien position on the property.

Recording Numbers Received:

Recording numbers are the unique numbers given by the county recorder’s office to a properly executed legal document thereby making it part of the public record. In other words, when we have recording numbers, the buyer is “on record” as holding title to the property.

Now We Have Closed Escrow

Once the deeds have been recorded, and funds are available to the seller, we can say that we have “closed” and the new owner may take possession of the property as set forth in the Purchase and Sale Agreement.

Do you have questions or thoughts about the escrow process? Please share by leaving a comment below!

Flopping – The Latest Short Sale Scam

On October 4, 2011 / Blog, Escrow

Short Sale Loss Mitigation

It is estimated lenders lose hundreds of millions annually in undervalued short sale transactions. Loss mitigators working on behalf of the lenders have anywhere from 450 to 600 active files on their desks at one time. Working the best deal for the lender is an all-consuming task for the loss mitigators and each short sale has its own complexities.

When a seller applies for short sale approval, the seller submits hardship affidavits and signs forms such as a Purchaser Eligibility Certification which includes statements such as:

In making this request for consideration of a short sale I certify under penalty of perjury:

All of the information in this document is truthful.
I/We agree that the financial information provided is an accurate statement of my/our financial status. I/We understand and acknowledge that any action taken by the lender of my/our mortgage loan on my/our behalf will be made in strict reliance on the financial information provided.
I understand that if I have intentionally defaulted on my existing mortgage, engaged in fraud or misrepresented any fact(s) in connection with this document, the lender may cancel any modification of foreclosure prevention agreement and may pursue foreclosure on my home. I understand the lender will use the information in this document to evaluate my eligibility for a short sale.

Even with statements such as these, the loss mitigator still goes through a process to confirm the information provided by the seller is true, but some fraudsters have found ways around this.

A Short Sale Flopping Example

In August 2010 one of our our South Pasadena, Fla. offices closed a short sale transaction. The seller (we will call him Jim Kling) had two loans on the property and the lender on both loans was Bank of America. The sales price was $425,000. Bank of America agreed to the sale and issued short pay approval letters for both loans.

The buyer was a LLC and the managing member of the LLC was Bill Hamley. The buyer purchased the property with cash and did not get a purchase money loan. At closing, the buyer and seller both signed an arm’s length affidavit which contained these statements:

“There are no hidden terms or hidden agreements or special understandings between the Seller(s) and the Buyer(s) or among their respective agents which are not reflected in the Agreement or the escrow instructions associated with this transaction.

There is no agreement, whether oral, written, or implied, between the Seller(s) and the Buyers and/or their respective agents which allows the Seller(s) to remain in the property as tenants or to regain ownership of the Property at any time after the consummation of this sale transaction.”

Cindy Archer at our escrow office was the settlement agent. She closed the sale in accordance with the terms of the short sale approval letters. Upon receipt of the payoffs, Bank of America promptly prepared and recorded a satisfaction of mortgage for each loan.

In April 2011, the buyer decided to sell the property. The seller entered into a purchase and sale agreement, and opened escrow with Cindy Archer. The title report was ordered, and upon receipt of the title report Cindy reviewed the requirements. She ordered the HOA demand, checked the property taxes and looked up the LLC with the state. The LLC was in good standing but the managing member had changed. According to the state the managing member was now Jim Kling. Remember that name? Jim Kling was the borrower who signed an arm’s length affidavit when he sold his home via short sale stating he had no side deals with the buyer. This same Jim Kling was now re-selling his home for almost one hundred thousand more than what he sold it for just eight months earlier. Not in our office he’s not!

Flopping is where the buyer of a short sale purchases the property for less than the true fair market value by influencing the appraiser or real estate agent to provide a Broker Price Opinion (BPO) which undervalues the property.”

How could Jim re-sell the same property less than a year later for $100K more when the real estate market is still depressed? This is the latest trend in mortgage fraud and it is called flopping. Flopping is the opposite of flipping. Flopping is where the buyer of a short sale purchases the property for less than the true fair market value by influencing the appraiser or real estate agent to provide a Broker Price Opinion (BPO) which undervalues the property. This information is provided to the loss mitigator who approves the sale based on the fraudulent information. The buyer then turns around and sells the property at fair market value, realizing a profit the lender should have received. In this instance, both the buyer and seller participated in defrauding the lender.

Flopping is a serious concern.

According to Fannie Mae a flopping scheme requires the perpetrator to conceal or provide falsified information to the loan servicer. This is information the servicer needs to make an informed short sale decision. These concealments may include hiding:

The true parties to transaction
Any contingent transactions
The true value of property
The transaction described above was not an arms-length short sale. Clearly the principals worked together to facilitate a reduction to the existing loan, resulting in the original borrower making a profit from the sale of his home. This is mortgage fraud on the part of the seller.

Our Company will not knowingly participate in defrauding or misrepresenting to a lender any facets of a transaction. Cindy had no knowledge of the fraud during the prior transaction. But, in the subsequent transaction, she could see what transpired and was not about to facilitate the completion of this crime. Cindy resigned from the transaction.

Earnest Money Instructions Clarified on New NWMLS Form 21

On September 27, 2011 / Blog, Escrow

The recent changes to paragraph b “Earnest Money” in the NWMLS Purchase and Sale agreement (Form 21) finally gives escrow the authorization they need to assist in the release of the earnest money upon termination of the agreement. We are very pleased with this change; it will not only eliminate delay but will result in happier buyers, sellers, brokers and happier closing agents.

The Old Paragraph B – Why the confusion?
Remember that Escrow is a neutral third party that can only follow written instructions agreed upon between the buyer and seller. In the former version of the NWMLS Form 21 paragraph b. the instructions for what a closing agent could do with Earnest Money was EXTREMELY limited.

Under the old agreement the parties had to agree in writing as to disbursement of the earnest money, in the absence of such an agreement (Rescission) the closing agent was instructed to commence an interpleader action within 30 days of the demand. These limited choices left everyone including the closing agent feeling very frustrated.

A New Paragraph B – Clear Instructions
The revisions made to the form as of 8/11, provides the closing agent with the clear and precise instructions they need in order to release the earnest money in a timely manner. Not only does it give clear instruction to the closing agent but the buyers and sellers have also been given clear notice of the process if there is a dispute with earnest money.

Upon termination of the agreement the parties shall execute a release form (Authorization to Disburse Earnest Money – Form 50), if either party fails to execute the form, the other party may make a written demand to the closing agent for the earnest money. The closing agent shall promptly deliver notice of the demand to the other party. If the other party does not object to the demand with 10 days of said notice the closing agent is authorized to disburse the funds to the party making the demand. In the event of dispute over the earnest money, the closing agent can still commence an interpleader action.

What do you think? Will these revisions save you time and effort in the future? Please share your thoughts by commenting below!

For your reference, we have included paragraph b. here:

Residential Title and Escrow Rate Calculator – TicorRates.com

On September 20, 2011 / Blog, Escrow, Title Insurance

Online rate calculators for title and escrow services have become indispensable tools for loan originators over the last couple years. Why? Because a higher degree of accuracy is now required when loan originators disclose settlement fees to consumers on the Good Faith Estimate or GFE. And with settlement fees falling into three tolerance categories it’s critical for loan originators to know that the fees quoted by the title insurance and escrow provider will be accurate and won’t change by more than 10%.

Calculate rates for your GFE instantly! Try out the free title and escrow rate calculator today! Click here to try it now at TicorRates.com!

Therefore as a service to our clients Ticor has created an easy to use, online rate calculator. View the calculator at http://ticorrates.com to try it out today!

TicorRates.com benefits:

It’s easy to use
24/7 availablility
No need to log in
Calculate Fees in under a Minute
Quotes are valid for 60 Days

Here’s a 2-minute video tour of TicorRates.com
Click on the play button below to watch it now.

A quick review of the GFE and HUD-1 Settlement Statement Changes

Last year significant changes were made to RESPA’s two primary disclosure forms (GFE and HUD-1 Settlement Statement) for the purpose of ensuring more timely and effective disclosures of the settlement costs of residential mortgage loans. One of the major changes was the addition of a third page to the HUD-1 which facilitates a side-by-side comparison of the settlement charges listed on the Good Faith Estimate vs. actual charges on the HUD-1 settlement statement. In addition, the new HUD-1 makes it easier for lenders and settlement agents to identify tolerance violations with the settlement charges.

Charges that cannot increase on the HUD-1 Settlement Statement

Origination charge
Credit Charge
Adjusted origination charge
Transfer taxes

Charges that cannot increase in total by more than 10% on the HUD-1 Settlement Statement

Recording fees
Title Services
Any other required services that are provided by a company identified by the loan originator

Charges that can increase on the HUD-1 Settlement Statement:

The initial escrow deposit
Daily interest charges
Homeowner’s insurance
Any required services consumers purchase from providers not identified by the loan originator

What do you think? Is this calculator a time saver for your business?

Please share by commenting below!

Fraudulent Mechanic’s Liens Thwarted

On August 16, 2011 / Blog, Escrow, Title Insurance

Unfortunately, REO properties are a prime target for fraudulent Mechanic’s Liens, since it is not uncommon they might need some repairs or work done and since there are so many different people involved in rehabilitating foreclosed properties for eventual resale.

A fraudulent mechanics lien was filed repeatedly against bank owned properties.

Fool me Once…
One of our sister companies had a sale transaction wherein Federal National Mortgage Association (FNMA) was the seller as the property was an REO bank owned property. The title report reflected a Mechanic’s Lien payable to Anna Moskovyan for painting. Moskovyan was contacted for a payoff statement and lien release. The payoff amount was shown on the settlement statement, however, FNMA stated they were not aware of any work being performed on the property by Moskovyan. Since this transaction was so close to closing, FNMA approved the payment and did not dispute the invoice or lien. Moskovyan came to our offices and picked up her check in exchange for a release of her lien.

Something’s Fishy…
Shortly afterwards an officer, Paula, from another sister company noticed Mechanic’s Liens appearing on all the title reports wherein FNMA was the seller. Paula did some further investigation and discovered, upon closer examination, it appeared the lien was exactly the same – simply recorded over and over again against different REO properties owned by FNMA. This is when the following warning was sent to her co-workers:

Mechanic’s Liens were recorded on FNMA properties in our area. The exact same lien, for the exact same amount, for the exact same service, was found recorded against several properties. We’ve checked with FNMA and the Listing Agent and this woman who signed this Mechanic’s Lien had not been contracted with to provide any services; the properties in question were not painted and were never scheduled to be painted. If you receive a title report or a supplemental report with a Mechanic’s Lien, let us know immediately so that we can get this addressed before you try to record. The agent in this particular case has had six of his FNMA listed properties compromised in this manner, and he has no idea who this person is.

We are not sure how wide-spread this is and whether it has gone to surrounding counties, however, it will likely disrupt recordings in our area for a while, and we need to keep our eyes open for them.

Once our offices confirmed FNMA had not contracted with Moskovyan to perform work on its properties, the operations obtained an indemnity on each transaction in which a fraudulent Mechanic’s Lien was filed with the county recorder and proceeding to close without paying the lien holder. The listing agent reported the fraudulent liens to the police department, and a case number was assigned.

Be Aware
If this lien or similar liens appear on your title report, do not take the lien at face value. Do some investigating and contact the seller and listing agent to make sure any lien affecting a property is, in fact, a true lien and not fraudulent. This could end up saving the customer and Our Company from a potential lawsuit.

The sad part of this tale is how it illustrates anyone can take a document to the County Recorder’s office, pay the appropriate recording fee and have it recorded against any property. The county does not check for validity of a lien, just that the document is in the proper format. The integrity of our public records system is broken down with every fraudulent document recorded. This only emphasizes the importance of title insurance and what a vital role Our Company plays in the American dream of home ownership.

Questions or comments? Please leave a share below!

The Anatomy of a “Cash Back” Mortgage Fraud Scheme…

On August 8, 2011 / Blog, Escrow

A cash back mortgage fraud scheme puts the loan at a greater risk because it originates with negative equity in the property.

In March 2011, seven people were arrested and indicted in a mortgage fraud scheme. For approximately two years the defendants had perpetuated their scheme in more than 18 transactions. The indictment says they “knowingly and willfully devised, and intended to devise, a scheme and artifice to defraud lenders … to obtain money from lenders by means of material facts and fraudulent pretenses, representations, and promises, and by intentional concealment and omission of material facts.”

Here’s an example of how the scam worked.
The loan officer lured in a straw buyer by telling him he would be paid $10,000 for every house he purchased without having to put any money down, along with additional money when the homes were resold. Sounds great, right? The ring leader would remodel the house and rent it out. After two years, the house would be resold to the renter. The rent payments were applied toward the mortgage payments.

The straw buyer agreed to lend his name and credit to a transaction. The parties closed on the purchase of one property on a Wednesday for $550,000. The straw buyer obtained a mortgage for $495,000. The loan application contained the following material false statements:

Inflated monthly income
Inflated bank account balances
Inflated assets

The lender wired $502,041.34 to the escrow/title company. The escrow/ title company issued a check in the amount of $144,861.78 to a shell company the ring leader owned. This disbursement was not disclosed to the lender on the HUD-1. The straw buyer was given $9,700 cash in a paper bag by the loan officer after closing.

On Thursday the ring leader withdrew $66,500 from her bank account and converted it to a cashier’s check. The cashier’s check was provided to the escrow/title company as the down payment and closing costs purporting to be from the straw buyer and not third party funds.

Did you notice the timeline? The file closed before all the funds were in. This is what facilitated the scheme. The $144,861.78 is released to the ring leader who deposits the funds into her account so she can turn around and provide the down payment check on behalf of the buyer. No one is out any cash up front.

The perpetrators were indicted on 14 different charges. Their scheme qualified them for almost $13.5 million in fraudulent loans and received over $2,907,452 in ill-gotten gain from the proceeds of these loans and real estate transactions.

Here are some of the other details from the indictment:

Straw Buyer Mortgage Fraud

A “cash back” scheme is one variation of mortgage fraud. In a “cash back” scheme, the perpetrator of the scheme offers to purchase a property for more than the

seller’s asking price and submits a contract to the seller for the inflated price. The seller agrees to the sale because they are generally receiving the full asking price.
Often a “straw buyer” is used to facilitate the “cash back” scheme. Generally, a straw buyer is someone recruited by the perpetrator to take out a mortgage and purchase a house in their name. The straw buyer normally does not live in the house or have the intent to reside at the house.

A Uniform Loan Application, also known as Form 1003, is prepared for the straw buyer. A lender uses this form to record relevant financial information about the applicant who applies for a mortgage. Misrepresentations are made to qualify the straw buyer for a mortgage. In signing the loan application, the straw buyer acknowledges that “the information provided in the application is true and correct.”

This scheme could have never been pulled off without the escrow/title company. The indictment goes on to identify the role of an escrow/ title company in a real estate transaction:

Generally, a straw buyer is someone recruited by the perpetrator to take out a mortgage and purchase a house in their name.

A title or escrow company is used in which the subject property is deposited for safekeeping under the trust of a neutral third party (escrow agent) pending satisfaction of a contractual contingency or condition. Once the conditions are met, the escrow agent will deliver the property to the party by the contract.

After receiving the loan documents facilitating the buyer and seller signing, escrow agents prepare a final HUD-1 wherein details of the actual receipt of lender funds and fund disbursements are listed for the records of the lender, seller and purchaser. The escrow agent is required to disburse funds according to what has been indicated in the HUD-1 settlement statement.

The escrow agent received the down payment from the ring leader in transaction after transaction and never disclosed them as third party funds. The disbursements were also hidden since the ring leader was paid out of the escrow file without being disclosed to the lender on the HUD-1. The escrow/title company who handled these closings is now closed.

A cash back scheme puts the loan at a greater risk as the loan originates with negative equity in the property.

All of this information was crucial to the lender because a “cash back scheme puts the loan at a greater risk as the loan originates with negative equity in the property.” To summarize, “the co-conspirators artificially inflated the sales contract prices … the defendants concealed from the lending institutions by intentionally withholding from the lender that payments were made to unrelated third parties to the transactions or omitting on the HUD-1 that at the close of each sale a portion of the loan was paid to an unrelated third party to the transaction. Additionally, in some transactions, the parties failed to disclose to the lender that the straw buyer or purchaser of the property received cash back from other members of this conspiracy for the use of straw buyer’s credit to purchase the property.”

Moral Of The Story
All receipts and disbursements must be completely and accurately disclosed on the HUD-1 and to the lender. Making disbursements to individuals or entities who are not a party to the transaction is completely unacceptable. Seller proceeds should be disbursed to the seller only and not their LLC or members of their LLC.

$1.5M Foreclosure Fraud Scheme Busted

On July 24, 2011 / Blog, Escrow, Title Insurance

During a routine title exam, Lisa H. uncovered a forged quit claim deed. After a more thorough investigation, Lisa discovered the deed was one of many recorded by two brothers who were recently charged with a $1.5 million fraud scheme.

Lisa works for one of our sister companies as a title examiner. She was examining the chain of title for a residential sale of property in San Bernardino County, Calif. with a $350,000 sale price when she came across a deed she was sure was forged.

These were the signs that made her question the deed:

To avoid the payment of transfer tax, the transfer was declared a “gift” on the face of the deed
It was an uninsured deed and not recorded by a title company
The deed was handwritten
The handwriting matched the signatures on the document, including the signature of the notary
The notary stamp reflected the notary’s last name as “Desahagun” however the notary clearly signed his name as “Deshagun”
The notary’s name was listed on the office postings as a suspect and all documents containing the notary’s stamp should be scrutinized
The grantor’s signature did not match signed documents recorded previously in the chain of title
The “when recorded mail to” name and address was neither the grantor’s nor the grantee’s
Lisa ran a search on the grantee’s name, David Zepeda, and found approximately 70 other properties in which he was suddenly the owner

Lisa brought the deed to the attention of the advisory title officer and together they called the escrow officer to provide their detailed findings and to notify the escrow officer our underwriters would not be issuing a policy for this transaction. The escrow officer in turn called the property owner to find out if he in fact executed the handwritten deed. It turns out he did not. Lisa was right, the deed was a complete forgery and the true owner stated he had no intentions of selling his property.

The property owner then reported the incident to the District Attorney’s office. As it turned out, he was not the only victim of David Zepeda. The District Attorney’s office confirmed that David Zepeda and his brother, John Zepeda, were being investigated as part of a ring of suspects involved in a foreclosure scheme known as the David Zepeda Trustee Foreclosure scam, which so far has claimed hundreds of victims.

This story is an excerpt from our parent company’s Fraud Insights newsletter. To read the entire article, click here.

A Proactive Approach at Ticor Title Northwest
Our seasoned Title Officers, Examiners, Escrow Officers, and Escrow closers in Ticor’s Puget Sound operation are trained to operate with the highest standards of conduct. We are proactive in our efforts to identify potentially fraudulent activity in any transaction.

Questions or comments? Please share by leaving a comment below!

REO Transaction? Watch for these details when setting client expectations…

On July 11, 2011 / Blog, Escrow

Checklist for REO Transactions

Buying an REO (or Real Estate Owned) property involves a slightly different escrow process than your standard home sale. Realtors and Buyers need to remember that they are in escrow with a Bank/Lender (the “seller”) and the Bank/Lender has strict procedures in place that must be followed during the process. Understanding certain details can help you set the proper expectations with buyers and help ensure that your REO escrow goes as smooth as possible.

Here is a glimpse of the details to look out for if you’re in an REO transaction.

Click the image above to download tips for REO transactions.

The Seller – In an REO transaction the Seller is an “out of state” Bank. The Bank contracts a 3rd party “Asset Management Company” which represents them in the transaction and approves the final escrow closing documents. All correspondence is done by email or by their website.

Title Commitment (prelim) – Escrow will handle ordering title to insure it is ordered from the appointed “title company”. This could be a local or national division depending on the arrangements the Seller has made.

Home Owners Association (HOA) – If you are aware of an active HOA, please be sure Escrow is also notified to insure all delinquent dues are paid current at time of closing.

Loan Documents – Should be delivered to Escrow five working days prior to closing. Once loan documents are received and Buyer’s Lender has approved the estimated HUD Settlement Statement, escrow can set an appointment for the buyer. The earlier the documents are available, the better the chances are of an on-time closing. A HUD Settlement Statement should be available to the Lender 24 hours after receipt of Loan Documents.

Proactive Communication

Our seasoned escrow staff believes that clear, early, and frequent communication with our clients is critical with every escrow closing. With that in mind, we provide the information here to our clients immediately when an REO transaction is opened. Being aware of potential roadblocks early in the process allows time for all parties to be better prepared and sets the stage for a positive closing experience.

Courtesy Signing – If the Buyer is unable to sign with the assigned Escrow Officer, an approved Mobile Notary will be required and an additional fee could be charged. Your Escrow Officer will arrange for the courtesy signing once the loan documents have been received.

“Seller documents cannot be sent until Buyers documents have been received.”

Seller Documents – Seller documents cannot be sent until Buyers documents have been received. The REO Seller and their 3rd party Asset Company may require 24-72 hours to approve the HUD after ALL demands have been received.

Courier Fees – Buyer courier fees will be “estimated” at time of signing and adjusted to the actual cost of courier fees at the time of funding.

Buyer / Lender Funds for Closing – To meet closing deadlines, we highly recommend wiring the funds. If you send a Cashier’s Check it will need to be held in the Trust Account overnight before we can record. If a Personal Check or Official Check is presented, it could require a 10 day hold before we could close and disburse funds.

Funding – Escrow will coordinate with the Buyer’s Lender on the Bank’s HUD approval before funding can occur. (Changes to the Seller’s side of the HUD require additional Seller approval).

Have you been a part of an REO transaction where one of these potential hurdles was cleared because an escrow officer alerted you? Please share by commenting beow!

Keys to a Successful Escrow Closing

On June 14, 2011 / Blog, Escrow

Keys to a successful escrow closing - have your ducks in a row

Getting your ducks in a row for a smooth escrow closing

Closing on a home can be an exciting and stressful process all at the same time. With so many potential speed bumps it’s important we make your closing flow as smooth as possible. At Ticor we believe one of the easiest ways to accomplish this is by educating buyers and sellers as they prepare for the big day. In particular we’d like to highlight some of the simple steps a buyer/seller can take to expedite the process. We call these steps the “Keys to a Successful Closing”.

Prior to Closing

Buyers:

Check that all conditions have been met by your Loan Officer.
Send the names of your lender and homeowner’s insurance company to your Escrow Officer.

Sellers:

Gather the following and deliver to your Escrow Officer:
Your forwarding address
Any existing mortgage information
Identify leased equipment
Homeowner Association information
Utilities (if they are to be paid out of escrow.)

Buyers and Sellers

Confirm with your agent that all contingencies have been satisfied.
Keep your agent informed of any vacation plans or times you will be unavailable.
If you plan to have your documents reviewed by an attorney, please notify your Escrow Officer at least 48 hours prior to signing.

Before Your Signing Appointment

Expect to sign at the escrow company one or two business days before the closing date.
If funds are required to close, be prepared to bring the monies in the form of a cashier’s check 24 hours before recording or wire transfer the same day as closing.
Have a valid photo identification available at your signing appointment: Driver’s License/State ID, Passport, or Green Card.
Expect the signing to last approximately one hour if you are the buyer and 30 minutes if you are the seller.

If you have questions or comments about the closing process, please share by commenting below!

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