Closing
Escrow

CLOSING

If you have come this far, then this means that it is almost time for a congratulations, but not yet. Do not forget to tie up these loose ends:

Final Walk-Through Inspection.

More of a formality than anything else, the final inspection takes place  2-5 days prior to close of escrow. You will visit the property with your Realtor to verify that all is in working order; everything is in substantially the same condition when you made your offer; agreed to repairs have been made;  no extra items have been left behind, and that everything included in your purchase is still at the property.

Home Services and Utilities.

We will provide a list of useful numbers for the transfer of home services and utilities after the closing occurs.

Funding and Closing.

The escrow officer will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. You and the seller(s) will sign this statement,  certifying its accuracy.

If you are obtaining financing, you will have to sign all pertinent documentation required by the lending institution.  If you are bringing funds to the transaction, you can elect to either have the funds wired electronically into the closing agent’s escrow account, or bring a certified bank check to the closing in the amount specified on the settlement statement.

The lender’s funds and your down payment will need to be wired into escrow approx. 2-3 days prior to the scheduled close of escrow date. When escrow has received both wires, the escrow officer will contact both the listing and selling agent to notify them of receipt of the funds. Escrow will record the Grant Deed the following day, which signifies the effective close of escrow and transfer of ownership!

Keys to Your New Home.

Your Realtor and the seller’s agent will arrange to have all property keys and any other important information for you on the day of close of escrow.