Escrow Services Escrow serves as an intermediary liaison communicating with all parties involved. Duties include: Receiving and holding all funds, instructions and documents to the purchase Complying with the lenders requirements in its instructions to escrow Requesting a preliminary title search and report to determine the status of title to the property Requesting a beneficiary statement or payoff demand from existing lenders Holding inspection reports, deeds and insurance documents Preparing or obtaining the grant deed Prorating taxes, interest, insurance, rents, and other costs related to the escrow Requesting the deed and other documents Closing the escrow according to the instructions of the buyer, seller, and lender Disbursing funds as authorized by the instructions, including charges for real estate commission, loan payoffs, title insurance, taxes, recording fees and other costs Preparing final statements as to the disposition of all funds Escrow Products At the close of escrow, the homebuyer will have many important documents that over time can be misplaced or damaged. The sturdy First American Folder keeps these documents organized. Buyers Closing Package For buyers for whom we provide title insurance, we provide a package that includes the Buyer Final Closing Statement, Buyers Final HUD-I Statement, Preliminary Title Report, all loan documents, (CC&Rs) Covenants, Conditions and Restrictions, (if applicable) and Inspection reports. Seller Closing Package For sellers in our transactions, we provide a package including the Sellers Final Closing Statement, Sellers HUD-I Statement, Grant Deed, Preliminary Title Report, Payoff, demands, Inspection reports and the 1099 Seller Non-Foreign Affidavit. Lender Closing Package For lenders in our transactions, we provide a package that includes all signed loan documents certified copies of the Note and Deed of Trust, Buyer and Seller Final Closing Statements and Master HUD-I Statements. Copyright © 2008 - The First American Corporation