WHAT TO EXPECT AT YOUR SIGNING

WHAT TO EXPECT AT YOUR SIGNING

This posting is the forth in a series designed to help take the mystery out of the home buying and selling process.  That process can be confusing and, since it pertains to the single most expensive asset most of us have, our home; we feel that our clients are better prepared for the experience if they have some understanding of each step in the process in advance. 

If you have reached this point in the purchase of any real estate, congratulations, you are in the home stretch.  The seller has met all of your requirements and, with the exception of the loan, you have met theirs. You will have received final approval of your loan, completed all inspections, and reviewed and approved all inspection reports.

The deed of trust and the promissory note are two of the many documents that you will sign. The escrow officer will return all loan related documents to the lender, where they will be carefully reviewed.  The lender will fund the loan on the date of closing, sometimes the day before. 

The document signing usually takes place a few days before the recording of the transfer of title, and escrow is closed.  The escrow officer will have informed you about the exact amount of the funds you have to bring to close the transaction.

The signing usually takes between an hour and an hour and one half to complete, so make sure you set aside enough time.

Funds must be in the form of a certified check, or you can wire transfer them directly into escrow.  Sorry, no personal checks, cash or credit cards may be used. 

Don’t forget to bring identification.  Most people use a driver’s license or passport.  The person who conducts the signing is a notary and must notarize many of the documents.   

 First American produced a straightforward video that is easy to understand.  If, after you view the video, you have questions, please feel free to call, text (916) 337-0658, or e-mail Mike@BuyYourVilla.com for clarification.