ESCROW OPENING GUIDE
What escrow expects from you

TO OPEN YOUR ESCROW EFFICIENTLY AND SMOOTHLY
YOU WILL NEED:

Using a Realtor® significantly simplifies this process, as well as assuring the the required information is obtained professionally and efficiently.

• Property address: street, avenue, boulevard, town, and city.

• Legal description - Secure from Title Company - if metes and bounds description, tell the escrow officer so it can be secured from the Title Company.

• Seller's full name - verified from the last vesting deed.

• Buyer's full name and manner in which title will be vested. Be sure you do not use nicknames or titles.

• Loan information (sellers) - Lender, loan number, address, and approximate balance. This information may be obtained from the payment coupon book. If it is a private lender, provide escrow with lender's name, address, and telephone number.

• Other loan(s) or lien(s) apply the same as above concerning information needed. If escrow is to pay any installment debts, i.e. charge cards through escrow provide escrow holder with final statement with account number and address to mail payment.

• Street and sewer bonds or other types of improvement bonds - in some cases they are not recorded but could be recorded during the escrow period - check with the County Assessors office if any question.

• Telephone numbers - home and business - lender's phone number - if buyer or seller moves during escrow period, be sure to give correct address and phone numbers to escrow officer.

• New lender and loan officer, if known.

• Special instructions relative to repairs required by VA, FHA, or lenders - paid by buyer or seller as agreed.

• Commission instructions and splits if any, to be signed by Brokers.

• Personal property, warranties as to pool, appliances, etc.

• Special arrangements as to possession and/or rental agreements that are to be incorporated into the escrow instructions.

• How are instructions to be delivered? Mailed, to be picked up by agent, buyer, seller or messenger?

• When calling escrow after your escrow has been opened, please reference your inquiries by escrow number and officer. Try to keep your calls to a minimum, especially on Mondays and Fridays, as these days are heaviest with openings and closings.