Escrow Process
Obligations Of The Escrow Officer
· Order a title report on the subject property and obtain all the necessary information to clear all title
defects and satisfy existing liens and encumbrances against the property or the principals involved in the
sale
· Work with the buyer's lender to insure instructions from the seller, buyer and lender are coordinated
· Prepare many of the documents necessary for the transaction and review all others to make certain they
conform to the parties' demands
· Figure tax and interest prorates and prepare closing instructions and statements for both buyer and
seller
· Arrange closing appointments for all parties to sign the necessary documents
· After taking final signatures, the escrow agent has r esponsibility to complete the transaction by checking
all documents for completeness, compliance and accuracy
· Return copies of all loan documents to the lender for approval to record
· Record all necessary documents in the county where the property is located. This is when the
transaction is closed
· Disburse all funds out of the escrow account according to the signed, written instructions.
(These funds could include the seller's net proceeds, the Broker's real estate commission, and
other payments required for loan approval or to satisfy other terms of the agreement.)
www.1613Fifth.com
· Prepare and distribute final closing statements to all interested parties
Sheri Fejeran
310.702.6999
Julie Lyon
310.345.1239
1300 Highland Av Suite 101
Manhattan Beach, CA 90266
Dre: 01217478/017171819