Page 12 - Homeowners Manual - Santa Clara County

ESCROW PROCESS

The buyer/consumer must receive the new Closing Disclosure (CD) at least three business days prior to the date
the buyer/consumer is scheduled to sign the loan documents�

ESCROW OPENED
Escrow number issued, contract and deposit received by escrow�

Preliminary Report/Commitment prepared and distributed for review�

Additional terms and appropriate invoices from companies such as termite companies,
homeowner’s associations, roofers, inspection companies, home warranty companies, etc�
forwarded to the Escrow Officer�

CLOSING DISCLOSURE SENT BY THE LENDER OR ESCROW OFFICER TO THE BUYER FOR REVIEW
Seller Closing Disclosure sent to the seller by the Escrow Officer�
Estimated Settlement Statement sent to the respective buyer’s and seller’s agents�

Escrow receives loan documents and lender instructions for scheduling the signing�

SIGNING DATE IS SCHEDULED
Buyer and seller to bring valid ID to the signing appointment�
Buyer to bring funds to close�

Signed documents are returned to the lender and funds are requested to close�

Funds are received from the lender and documents sent to the County Recorder for recording�

Confirmation of recording received, funds are disbursed, final settlement statement is prepared
and final Closing Disclosure is sent to the buyer by the lender or Escrow Officer�

CONGRATULATIONS!
Escrow is now closed� Keys are typically delivered by the agents or the seller
to the new homeowner, and the Owner’s Title Policy is delivered by mail�

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