The Escrow Process - cont'd

6. WHAT DO I NEED TO DO BEFORE MY APPOINTMENT TO SIGN LOAN PAPERS?

CASHIER'S CHECK  Obtain a cashier's check issued by a California institution made payable to the escrow  company in the amount indicated to you by Escrow.  A personal check is not acceptable.  Escrow is required  by law to have "good  funds" (meaning the check has cleared the institution and been paid) before
disbursing funds from the escrow.  An out-of-check will also cause delays in closing due to delays in clearing  the check.

7. LENDER'S REQUIREMENTS

Make sure your are aware of your lender's requirements and that you have satisfied those requirements
before you come to the escrow company to sign your loan documents.

8. HAZARD INSURANCE

If you are purchasing a single family home, detached home, (or in some cases, a town home), be sure to order  your hazard insurance.  Then call your escrow person with the insurance agent's name and phone number.   You must have secured hazard insurance before the lender will send its money to the escrow company.

9. IDENTIFICATIONS

Please bring a driver's license or a passport (photo ID) for each person who will be on the title with you to  the escrow company.  This is needed so that a notary public can verify your identity.  It is a necessary step for  your protection.

10. WHAT THE NEXT STEP AFTER I'VE COMPLETED MY SIGN-OFF?

After you have signed all the instructions and documents, the Escrow Officer will return them to the lender  for review.  This usually occurs within a few days and upon completion, the lender is ready to fund the loan  and advise Escrow.

11. WHAT IS AN "ESCROW CLOSING"?

It is the culmination of the transaction.  It signifies legal transfer of title from the seller to you.  Usually the  Grant deed and Deed of Trust are recorded within one working day of the escrow's receipt of loan funds.   This completes the transaction and signifies the close of escrow.

12. WHEN WILL I RECEIVE THE DEED?

The original deed to your home will be mailed directly to you at your new home by the county Recorder's  Office.  This usually takes several weeks, sometimes longer.