Buyer FAQ

1. When can you tell me how much money I will need to close escrow?
After all of the conditions of the escrow have been met, and when the documents are received from your lender (if you are obtaining new financing).

2. Can I open escrow with a personal check?
Under California law, a personal check given to escrow requires a specific time period for clearance and may delay the closing. To close immediately and to avoid delays, funds need to be in the form of a cashier's check, wired funds, or teller's check.

3. When do I get my keys?
Your REALTOR will handle the disbursement of the keys in accordance with the provisions of the real estate purchase contract concerning possession of the property.

4. How long will my signing appointment take?
Please allow 45 -60 minutes for signing the loan documents. More time may be necessary if there are additional escrow papers to sign.

5. Will the escrow officer explain everything to me at my signing appointment?
The escrow officer can review escrow amendments, preliminary title report and the estimated closing statement with you, but cannot interpret or explain the terms of any of the loan documents. However, the escrow officer will contact the lender to answer any questions you have while signing the documents. They can also provide you with copies of all of the documents you are asked to sign.

6. What is a "Statement of Information"?
The Statement of Information provides the title company with the information they need to distinguish the buyers and sellers of real property from others with similar names, thereby eliminating judgments, liens, or other matters in the public records which otherwise may affect the title to the real property.

7. What will I need to bring with me when I go to sign my papers?
You will need to bring a valid driver's license, a California I.D. card, valid passport, or Military I.D. One these forms of identification is needed by the notary public to complete the notarization of documents which you sign. If you need to bring money to close the escrow, these funds must be in the form of a cashier's check.

8. When do I have to provide new homeowner's or fire insurance?
It is a good idea to call your current insurance agent or start shopping for homeowner's/fire insurance as soon as escrow is opened. It is important to know the age of the home, type of construction, type of roof, number of square feet and other details about the property. Please contact your escrow officer with the name, address and telephone number of the insurance agent as soon as you have made your decision.

9. When will I get my deed showing proof of ownership?
The grant deed is recorded at the office of the County Recorder on the day escrow closes. Congratulations you are then a homeowner! It may take 3 -6 weeks for you to receive the original deed, which will be mailed to you directly from the County Recorder's office.