Phone 858.204.6226

Escrow Process

Here is how The Brett Dickinson Team describes the escrow process for our buyers and sellers:

Buyer & Seller Sign
Purchase & Sale
Agreement
Buyer makes initial
deposit
Buyer or Seller Agent
Opens escrow
Escrow officer orders
preliminary report
from title company

Escrow prepares
instructions &
documents
Escrow holder reviews
preliminary report
Request demands for
payoff
Escrow holder reviews
demands & documents

The
Escrow
process

Buyer & seller sign &
return escrow
supplemental
Escrow holder forwards
“Statement of Identity”
to title officer to clear title
Escrow holder calls
lender to find out status
& conditions
Obtain loan approval
check items; order loan
documents

Escrow holder reviews file,
have all conditions
been met?
All documents complete?
Escrow holder receives
loan documents
Buyer signs loan documents
& returns escrow holder
with remainder of funds
Escrow hodler reviews file,
verifies all documents, fund
and condition are met
Escrow holder request
funds from lender
Escrow holder reviews
title insurance
requirements
Escrow holder receives
funds from lender
Record deed, close file,
prepares statements,
disburse funds & prepare
1099 report