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Key
Affiliated Companies During Your Escrow
Your
Title Company . . .
• Researches title history of property
• Provides preliminary title report to escrow
• Insures property title in your name
• Records title transfer with County Recorders Office
Your
Lender . . .
• Determines your borrowing power prior to looking
• Assists in loan application process
• Makes necessary verifications and approves application
• Orders property appraisal and approves the value
• Forwards loan proceeds to escrow
Your
Escrow Company . . .
• Serves as the neutral depository of funds
• Main facilitator of communications to all parties
• Prepares escrow instructions and amendments as required
• Orders preliminary title report
• Forwards preliminary title report to seller, buyer
and lender for approval
• Requests beneficiary statement if there is an existing
loan
• Oversees compliance for all specified loan requirements
• Prepares or secures the deed and/or other documents
• Meets with buyers and sellers to sign loan documents
and other paper work
• Receives purchase funds from buyer and other sources,
if any
• Prorates taxes, interest, insurance and rents, if any,
according to instructions
• Requests issuance of title policy
• Informs lender when all conditions are met and requests
funding
• Forwards deeds and other documents, as instructed,
for recording to title company
• Disburses funds as authorized and closes file
• Prepares final statement showing disposition of all
funds
South
Bay Brokers
1640 So.
Pacific Coast Hwy.
Redondo Beach, CA 90277
(310) 375-0583
(310) 375-9616 Fax
2501 No. Sepulveda Blvd., 2nd Floor
Manhattan Beach, CA 90266
(310) 546-7611
(310) 545-0515 Fax
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