Once you have found your dream home and you’re in escrow, you can’t wait to get the keys and move in. But, before that happens, you’ll be busy getting everything ready for the big move. When the day finally comes to sit down and sign your escrow papers, knowing you have everything you need ready to go will make the process easier.
What is an Escrow?
When an escrow is opened, the buyer and seller of a piece of property set the terms and conditions for the transferring the ownership of the property, and give them to an impartial third party known as the escrow holder, to carry out. The escrow stores all the instructions, documents and money necessary for the sale of your home, including the down payment funds. The escrow provides a guarantee that no property or funds will change hands until ALL of the terms and conditions have been met.
What Do I Need to Bring to the Escrow Signing?
In order to be fully prepared for escrow signing, make sure to contact your lender and review any instructions or requests for specific documents they may have. Gather the documents they request.
1. Bring a cashier’s check or other funds for any arranged closing costs.
2. Bring a copy of your Good Faith Estimate for comparison with the final documents..
3. Bring current identification. This may include your current driver’s license, state identification or passport. The notary will require proof of your identity. Ask your escrow officer which identification they prefer.
4. Bring anything else your escrow company or lender has requested, such as closing documentation, most recent paystub or original signed documents.
For more information about the escrow process, or any other real estate questions, contact the experts at Brighton Escrow.