What Escrow Needs from Sellers

The goal of escrow is to ensure that your transaction moves along as smoothly as possible.
You will need to provide your Closing Officer with the following information:

Once escrow is opened with your title agency, you will receive a Statement of Information to complete. Statements of Information provide the information needed to distinguish the Buyers and Sellers of real property from others with similar names so as to disregard matters which do not affect the property to  be insured. After identifying the true Buyers and Sellers, the title company may disregard the judgments, liens or other matters on the public records under similar names. This routinely requested document protects all parties involved and allows the title company to competently carry out its duties without unnecessary delay. You, and your spouse if you are married, will be asked to provide full name, social security number, year of birth, birthplace, and information or citizenship. If you are married, you will be asked the date and place of your marriage along with any previous marriage information, residence and employment information.

Provide names of your existing lien holder(s) along with address, phone number and loan number.

Be sure to bring your driver’s license or other form of picture Id to the closing.

The title company can wire proceeds into your account upon funding of the transaction. Please provide your Closing Officer with wiring information if you choose to have your funds wired.

Any invoices for inspections, repairs or other items to be paid at closing but be submitted to escrow prior to closing.

If you intend to use Power of Attorney and will not be present at closing to sign documents, you must provide the original Power of Attorney prior to closing for approval and recording. The Lender will also need to approve the Power of Attorney. Please provide a contact number so that you can be reached for verification as well as to confirm that Power of Attorney has not been revoked.

(from Title 360 Seller’s Guide)

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