Prepare for Escrow Process
The following is a brief list of items that you will be expected to provide and/or deliver to your escrow officer:
- Correct spelling of your name and up-to-date contact information
- Contact information for lender (and/or mortgage broker) if new financing is being obtained
- Mortgage loan account information (lender or loan servicer’s name, address, and account number). If you are selling or refinancing a piece of property; plus any other tax, mortgage, bond or other lien information
- Fire insurance policy information
- Title vesting choice
- Copies of Trust Documents if taking title in trust or selling from a Trust
- Homeowner Association (HOA) and management contact information; copies of HOA documents if held by owner. Any relevant corporate, partnership or LLC documents if taking title in the name of one of those entities, or selling from one of those entities
Beware of Fraud
- Do your own homework and really check out your escrow holder.
- When possible, meet the people working for you in person.
- Retain a copy of everything you sign and receive.
- Do some research when you decide to work with an internet escrow agent who requires your deposit and fees to be sent over the internet.
- Be sure to question unexpected or last minute changes to documents and previously held agreements.
- Your lender and/or mortgage broker can most competently answer questions about your loan.
- Payments made outside of escrow.
Escrow Updates- from Olympus Escrow February 2017
Questions about Escrow?
Please Call for Grace for more information!