HOT ESCROW TIPS
•If the seller has an FHA loan to pay off, plan to close by the 25th to avoid paying another month's interest.
* If your escrow period encompasses the property tax due date consult your Escrow Officer as to the best method of tax payment.
*Funds for closing must be in the form of a wire transfer or Cashier's Check drawn on a California Bank. An "official check" or money order will delay your closing.
*Always check with the Lender when your client wants to take title as a trust, most will not lend to a trust. The transfer to a trust will have to occur after the close of Escrow.
* Married persons acquiring property separately must obtain interspousal transfer deed from their spouse prior to close of escrow.
* Homeowners must supply Home Owners Association (HOA) information to escrow. This information is not typically a matter of public record.
* If the property is in a condominium complex, be sure to check with the Home Owners Association before ordering the termite inspection. Some associations cover this expense.
* All information provided to Escrow is strictly confidential. All third party inquiries must be authorized by the principal's involved.
* Supplemental Taxes are not prorated unless specific instructions are provided by the Seller or Buyer.
* You do not have a valid Escrow without signed escrow instructions by all parties.