WHAT TO BRING TO ESCROW - BUYER

PROPERTY PROFILE

  • Buyers Name.
  • Address and telephone numbers.
  • Will they occupy at close of escrow?
  • Assessor's parcel number or legal description.

BUYER'S INFORMATION

  • Way in which they would like to hold title.
  • Status of buyer: i.e. Husband and Wife, Single Person, Unmarried or Widowed.
  • Manner of vesting: i.e. Joint Tenants, Community Property, Tenants in Common, etc.
  • Corporation-Need copy of Articles of Incorporation and Corporate Resolution.
  • Trust-Need signed copy of Trust Agreements and any amendments or modifications.

BUYER'S DEPOSIT

  • Deposit checks made payable to escrow holder or endorsed over to escrow company by Broker.
  • Trust account checks to be delivered to escrow agent prior to close of escrow.

LENDER

  • New financing - Name of lender, address, telephone number, and contact.
  • Assumption (Cash to mortgage) - Name of lender, loan number, and terms of note. Copy of note and Deed of Trust if available

INSURANCE INFORMATION

  • New policy - Name of insurance agent, address, telephone number and policy number. Escrow holder will pay first years premium out of escrow, and impounds if required by lender.
  • Assumption of existing policy - Name of insurance agent, address, telephone number, policy number. Determine if existing policy is assumable, and whether coverage is acceptable to buyers.

ADDRESS OF BUYER

  • Where documentation is to be sent after close of escrow.
  • Where are tax statements to be mailed.

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