New Era Escrow

Escrow Closing

CLOSING: Documents Needed During an Escrow Closing

One of the most important aspects necessary when closing escrow is to ensure that all required documents are present. Without them, your closing may be delayed or derailed completely. What kind of documents do you need for an escrow closing?

Escrow closing is different from a typical closing. In an escrow closing, all the parties involved have to sign specific documents depending on the escrow account that they are using. There are several documents needed during an escrow closing.

When an escrow closing is complete and the title to an asset has changed hands, it’s important to know what documents are attached to your escrow. There are several documents that you will need to prepare and submit during an escrow closing, including the final closing statement, proof of legal ownership (if you’re purchasing a property in another state), and proof of funds for the final payment. A custom escrow closing checklist can guide you through the right steps without forgetting any important details.

During the escrow closing, you’ll be asked to provide certain documents that prove yourself to be qualified to buy. The documents that you need to prepare for an escrow closing are the same as those needed during a regular closing.


documents escrow closing
  • Documents like your driver’s license and utility bill confirming your current address will help protect both parties.

  • The deed is a signed legal document that states the transfer of property from the seller to the buyer. This is the sale contract, buyer purchase agreement and document that outline the terms of the sale. The deed document is presented to the county recorder of deeds to document and make it public. Recording your deed places your name in the property’s chain of title and everyone who is looking at all county records will see that you took the title from a prior owner and therefore you are now the owner of the property.

  • The affidavit of title is a sworn, notarized statement by the home seller confirming the ownership of the property. This also states the title defects including leases, liens, or potential works that may create liens, disputes on boundary lines, and outstanding contracts for the property sale.

  • The title company will also want to see a list of all of your current creditors and any judgments or liens against you. If there are any outstanding loans on your property, then this list should show their names and addresses as well as the amount owed by each creditor.

  • The transfer tax declarations document states the transfer of tax declarations disclosing the selling price and the calculated tax.

  • list of all items of personal property that are being sold or refinanced, including furniture, appliances and other household items. (If there are no items listed, then you will be asked to confirm this information during the escrow closing.)

  • copy of your residential mortgage loan document showing the amount currently owed (principal) as well as current monthly interest rate (MIP), which can be obtained by visiting your lender’s website or by calling them directly at their customer service number. These are also called “mortgage” or “loan application” forms because they are used to apply for a mortgage with a lender. They may include information about how much money you want to borrow, how long you want to pay it back and any other details about your financial situation that you want lenders to know before they approve your loan application.
escrow closing
  • Title policy for the property being sold or refinanced, if one is required in your state.

  • written statement from your seller stating that he/she has received payment for all past due bills associated with this transaction and that he/she has received a copy of his/her title policy from you. If your seller does not have title insurance, he/she will need to provide proof of ownership prior to closing on your home purchase transaction.

  • The loan documents are issued by the bank and include all the terms of the loan, such as interest rate, down payment amount, loan payment schedule and other conditions. If a bank is providing the money for your purchase, it will provide you with the loan documents for your review before closing.

  • The note contains the description of loan terms. It is a document that serves as proof of your debt lender and a means for the lender to transfer or collect debts. This document will contain the amount of debt owed, the interest rate, time, and location to repay the debt.

  • Loan Estimate and Closing Disclosure are documents used in the mortgage loan transaction. The Loan Estimate gives details about your loan. This contains the estimated monthly payment, closing costs, and the costs of obtaining the mortgage. Loan Estimate is received after applying to your lender and a final copy is received at the closing which we call the Closing Disclosure.
escrow closing

When an escrow closing is completed and the escrow account has been closed, there are a number of records that need to be gathered and submitted to the lender by both buyer and seller. The closing agent has copies of all the documents that you submitted with the escrow closing on your home. The letters indicate when the property is ready for inspection and how long you have to pick up your keys. Closing process may be a lot of work but you don’t have to do the process alone.

New Era Escrow is an independent escrow company that strives for excellence in conducting successful escrow closings while maintaining exemplary customer expert escrow services. We adhere to the rules and regulations put in place by the Department of Financial Protection and Innovation and have a proven record in handling an extensive number of escrow transactions throughout California. Our team consists of the industry’s top professionals and we hold ourselves to the highest standards of professionalism and expertise. It is our responsibility to ensure that each transaction is monitored and safely handled.


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