Lender issues loan documents to Escrow Holder.
Escrow officer reviews loan documents and calculates funds necessary from buyer to close Escrow.
An appointment is scheduled with the Buyer for signing loan documents. At this time, the Buyer is given the amount necessary to close Escrow. The Buyer must either obtain a cashier’s check payable to Escrow Company or initiate a wire transfer from their financial institution to the Escrow Company Trust Account. The Buyer must bring valid picture identification (driver’s license, state-issued identification cards, passports, and military identification card) to enable notarization of loan documents.
After the loan documents are signed, the package is delivered to the funding lender for their review. The average review time is 24 to 48 hours. Upon the lender’s determination that all conditions are satisfied, the loan will fund, and the close of Escrow will occur upon the title companies receipt of the lender’s funds and recordation of the documents with the county recorder.