What is the Buyer required to do as part of the escrow transaction?
1. Deposit any funds required to pay the purchase price.
2. Deposit funds required to pay for the hazard/fire insurance and title insurance.
3. Ensure we have received borrowed funds for down payment, if applicable.
4. Approve any inspection report, title insurance commitment, and other reports specified in the purchase and sale agreement.
5. Fulfill all conditions of the purchase and sale agreement.
I have a question about the purchase. Who should I contact?
Contact your real estate agent if you have a question about the Purchase and Sale Agreement. Call your loan officer about the status, or terms and condition or status of your loan. Call Professional Escrow Services with any other questions.
When should we sign our papers?
We will set up a time for you to sign, at least two days prior to the official closing date. After you sign, the documents must be recorded and the funds disbursed at which time your file is considered closed.
What if neither I nor my spouse can be present for the signing?
A signed, notarized "power of attorney" enables someone you designate to sign on your behalf. Ask your closer for more details.
How much money should I bring in?
We will notify you of the amount after we receive the loan documents, set a signing date and confirm the closing date.
What else should I bring to the signing?
Picture I.D. (valid driver's license, passport, or birth certificate)
Do you accept personal checks?
We do not accept personal checks. We accept cashiers checks or can arrange for a wire transfer.
When do I get keys to my new home?
Ask your real estate agent for the keys, which should be available the day your transaction closes.
Why do I have to pay for Title Insurance?
Title Insurance guarantees that the sellers have clear title to the property being sold. Professional Escrow Services will not process an escrow for a home lacking title insurance.
Where to I obtain a copy of my house appraisal?
Call your loan officer for a copy.
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