4348 Van Nuys Boulevard, Suite 202

Sherman Oaks, CA 91403

818.907.5757 x223

THE ESCROW PROCESS

  • INITIATING THE TRANSACTION

    The Buyer and Seller sign the purchase and sale agreement. After the agreement is signed, the buyer would place a deposit for the property.

     

    The buyer's or* seller's agent would proceed to open escrow with KPL Select Escrow, Inc.

     

     

  • ESCROW BEGINS SERVICE

     KPL Select Escrow, Inc. acts as the “neutral” third party or “stakeholder”; nominated to hold the transaction funds until the purchaser receives appropriate assurance that the property had been transferred.

     

    When starting work on a transaction, escrow begins with:

     

    • ORDERING A PRELIMINARY REPORT FROM TITLE COMPANY

    • PREPARING INSTRUCTIONS &  DOCUMENTS

    • REVIEWING PRELIMINARY REPORT

    • REQUESTING DEMANDS FOR PAYOFF

    • REVIEWING DEMANDS & DOCUMENTS

     

     

  • REVIEWING & RETURNING OPENING PACKAGES

    Both buyer and seller will recieve escrow instructions and opening packages which will have to be reviewed, signed and returned to continue the transaction.

  • ESCROW PROCESSING

    Once all pertinent documents are recieved, KPL Select Escrow, Inc. proceeds with:

     

    • FORWARDING THE “STATEMENT OF IDENTITY” TO TITLE OFFICER TO CLEAR TITLE UNDER GENERAL INDEX

    • CALLING THE LENDER TO FIND OUT STATUS & CONDITIONS

    • CONFIRMING LENDER APPROVAL; CHECK TERMS; ORDER LOAN DOCUMENTS

    • REVIEWS FILE TO MAKE SURE ALL CONDITIONS HAVE BEEN MET INCLUDING: TERMITE REPORTS, NEW

       INSURANCE, HOMEOWNER’S ASSOCIATION INFORMATION & DATA ON LIENS ARE COMPLETE.  ADDITIONAL

       DOCUMENTS COULD BE PROVIDED IN THIS STAGE ONLY IF REQUIRED.

    • RECEIVES LOAN DOCUMENTS

  • FILE REVIEW

    BUYER’S LOAN DOCUMENTS ARE SIGNED & RETURNED TO KPL SELECT ESCROW, INC. WITH THE REMAINDER OF THE FUNDS.

     

    KPL SELECT ESCROW, INC. THEN,

    • REVIEWS BUYER & SELLER FILE, VERIFYING THAT DOCUMENTS ARE PROPERLY EXUCUTED AND NOTARIZED,

       THAT FUNDS ARE GOOD & THAT ALL CONDITIONS HAVE BEEN MET.

    • REQUESTS FUNDS FROM THE LENDER

     

      KPL SELECT ESCROW, INC. & TITLE COMPANY REVIEW THE   TITLE INSURANCE REQUIREMENTS

  • FINALIZING - FUND DISBURSEMENT & CLOSING

    KPL SELECT ESCROW, INC. recieves funds for disbursement and handles final steps toward closing the transaction:

     

    DEED IS RECORDED

    STATEMENTS ARE PREPARED

    1099 REPORT IS PREPARED

    FUNDS ARE PREPARED & DISBURSED.

     

    FILE IS CLOSED.

FOLLOW US ONLINE

4348 VAN NUYS BOULEVARD, SUITE 202 | SHERMAN OAKS, CALIFORNIA 91403 | O. 818.907.5757 | F. 818.572.8706

INFO@KPLSELECTESCROW.COM

Licensed by the California Department of Corporations (DOC) license number: 9632488.