Open escrow

• Receive contracts (RPA, any COs, addenda)
• Send wiring instructions to the Buyer for the EMD wire
• Open title order for the Prelim and CC&Rs
• Prepare escrow instructions and related documents

Order reports and documents

• Natural Hazard Disclosure (NHD) Report on behalf of the Listing Agent
• Homeowners Association (HOA) documents on behalf of the Seller
• Seller or Listing Agent orders Termite Inspection and Completion Report
• Home Warranty Plan: Buyer’s Agent orders it 1 week prior to COE

Review the Preliminary Title Report

Request necessary documents and information from the parties.

• Order demands
• Demands for any unusual items, e.g. judgment, mechanic’s lien, IRS lien, FTB lien

Send Opening Package to the Lender

Sent after confirming the loan amount with the Lender.

• A critical component is the Estimated Closing Statement, which includes escrow and title fees, property tax and HOA dues prorations, homeowners’ insurance premium, and notary fees

Clear the file

• Communicate with the parties to ensure all outstanding documents are in escrow and properly completed and signed
• Do a final audit of the file to ensure the escrow closing will proceed smoothly without any outstanding issues

Seller review

Provide the Seller’s Estimated Closing Statement and Closing Disclosure.

• Explain the Seller’s Estimated Closing Statement to the Seller

Buyer signing and funding

Receive the Buyer’s loan documents from the Lender and sign.

• Explain the Buyer’s Estimated Closing Statement to the Buyer
• Deposit the Buyer’s closing funds
• Provide the Buyer’s Lender the funding documents and request funding

Record and close

Send the recording documents to the title company to record at the county recorder’s office.

• Advise the parties that the recording has been set up
• Advise the parties that the recording has been confirmed
• Draw Final Closing Statement after receipt of title and payoff charges from the title company
• Disburse funds and send out closing packages to all parties