Selling Guide - Escrow

Before you can close the deal, the buyer must sign documents with Escrow.  The chosen escrow company will prepare a settlement statement that the lender will use to provide the closing disclosure.  During the waiting period, your escrow company will prepare escrow and title transfer documents. The lender then forwards necessary documents to be signed to the escrow company before arranging for the buyer's signing appointment.  

After the documents have been signed, they are sent to the lender for final review.  Once the lender gives approval, the escrow officer is authorized to file transfer documents to the county for recording, which usually takes a day or two. 

When all funds have been received, the title insurance company files the Warranty Deed (transfer of property to buyer) and the Deed of Trust.  The lender has the first lien on the property until the mortgage is paid.