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Orange County Escrow

The Escrow Process

The following diagram outlines the steps in the escrow process- from open-to-close.
Download this diagram
Closing referral
received at listing
Prominent Escrow Officer assigned
and Escrow Opened.
Preliminary Report ordered
from Title Company Partner
Curative Department works closely
with Title Company to remediate
title issues.
Curative Department researches
local ordinances regarding property
registration, signage, security and
maintenance
Contacting of local code enforcement
to investigate possible code com-
pliance issues and obtain updates
every 30 days
If violations exist, Prominent
notifies listing agent and seller
with proposed course of action
Prominent immediately orders updated Preliminary Report
Prominent receives fully executed
contract, then prepares & sends:
1) Welcome letter and phone call introducing escrow team
2) Escrow Instructions (EI) to buyer
3) Grant deed & EI to seller for signature
4) Orders updated prelim
HOA (if applicable)
Escrow receives (when applicable):
- Termite, Home Warranty and Natural
   Hazard Disclosure invoices
- Commission Instructions signed by brokers
- EI signed by seller(s) and buyer(s)
- Deed signed by seller
Financing (if applicable)
Receive earnest money deposit and
order HOA demand and docs. Research
possible sub-associations
Provide to lender:
- Escrow Instructions (EI)
- Preliminary Report
- Escrow and Title fees
Association Protection Services (APS)
determines if HOA is overreaching
and negotiates as needed
Prominent satisfies all
“prior to doc” conditions
Prominent receives Loan Documents from
lender, then notified both agents
Prominent contacts buyer to schedule
signing. Agents receive notification of
the signing
Seller approves Estimated Closing
Statement/HUD-1 and any amendments
Prominent receives signed loan documents
and updates agents. Signed Loan Docs
packaged and returned to lender for review
Prominent sends recording
package to title
Buyer deposits funds to close
Prominent receives funding conditions
list to “satisfy” lender
- Prominent authorizes funding and recording
- Prominent notifies all parties of recording
Closing packages and commission checks
are delivered to agents
Transaction Complete - Thank you
for Choosing Prominent Escrow!
Orange County Escrow
Real Estate News
20
Feb
5 tips for closing every real estate deal ahead of schedule
Once a property goes under contract, it becomes a sprint to get to the finish line. However, with so many parties involved, lack of communication, missing paperwork, being unorganized and a host of other challenges can quickly can prevent you from closing on or before the contractual deadline ...
Orange County Escrow
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