FAQ'S
How long does the Escrow process
take?
It depends upon several factors but generally, most escrow purchases can take from 10 to 30 days.
What can we do to make sure our transaction closes on time?
You can help enormously by promptly responding to requests for information. Also, it is critical that Buyers keep in close contact with their Mortgage Advisor to make sure your loan is being processed in a timely manner.
When does the Seller get the proceeds from the sale?
After closing documents have been signed by both the Buyers and Sellers, Excel Escrow returns the loan documents to the Lender for review and the recording documents are, then forwarded to the Title company. The Lender then wires the loan proceeds to Excel Escrow. As soon as the Title company records the documents Excel Escrow disburses all funds. Recording occurs on the day of closing. Proceeds are usually available the afternoon of the recording or the next day. You can pick up your check in person, we can mail it to you, or we can make the deposit into your account via bank wire.
Is there anything we should bring to the Signing ?
Since we will be notarizing your documents, you will need to provide valid photo identification. Your Washington State driver’s license is best.
Who pays the escrow fee?
The escrow fee is paid in equal parts between the Buyer and Seller, with the exception of a VA transaction (on which the Seller pay the entire fee).
Why is title insurance required?
Title insurance insures that the Sellers hold clear title to the property being sold. Lenders insist that Buyers carry title insurance as protection from unforeseen claims against the Lender’s security interest.
It depends upon several factors but generally, most escrow purchases can take from 10 to 30 days.
What can we do to make sure our transaction closes on time?
You can help enormously by promptly responding to requests for information. Also, it is critical that Buyers keep in close contact with their Mortgage Advisor to make sure your loan is being processed in a timely manner.
When does the Seller get the proceeds from the sale?
After closing documents have been signed by both the Buyers and Sellers, Excel Escrow returns the loan documents to the Lender for review and the recording documents are, then forwarded to the Title company. The Lender then wires the loan proceeds to Excel Escrow. As soon as the Title company records the documents Excel Escrow disburses all funds. Recording occurs on the day of closing. Proceeds are usually available the afternoon of the recording or the next day. You can pick up your check in person, we can mail it to you, or we can make the deposit into your account via bank wire.
Is there anything we should bring to the Signing ?
Since we will be notarizing your documents, you will need to provide valid photo identification. Your Washington State driver’s license is best.
Who pays the escrow fee?
The escrow fee is paid in equal parts between the Buyer and Seller, with the exception of a VA transaction (on which the Seller pay the entire fee).
Why is title insurance required?
Title insurance insures that the Sellers hold clear title to the property being sold. Lenders insist that Buyers carry title insurance as protection from unforeseen claims against the Lender’s security interest.
