What to expect
As a Seller:
You will need to provide us with information regarding any existing loans or liens to be paid off through escrow, and homeowner association information, if any. Your Escrow Office will then order a written payoff statement from the lienholder(s). The liens, plus any accrued interest and other charges, will be paid from your proceeds upon close of escrow. Certain documents which we will prepare for your will need to be signed before a Notary Public.
Once escrow is closed, your Escrow Officer will balance the file and provide you with a Settlement Statement, which is a complete accounting of each amount credited to you or charged to you. Remaining funds (proceeds) due you will be in the form of an escrow check or, if requested, may be wired directly into your bank account.