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Lakewood Escrow, Inc . . . "Professional Service with a Personal Touch"
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Escrow 101:
An escrow is defined as a secure and neutral holding place for the documents and funds that are used to complete the transfer of real property.
As the Escrow Holder, Lakewood Escrow, Inc., serves as an impartial, third party who is entrusted with the safekeeping of the documents and funds until the contractual obligations of the principals (the Buyer and Seller) have been fulfilled.
The Escrow Process:
- Turn in your Purchase and Sale Agreement and pick your closer, Robin LaCroix, Stephanie Meath, or Trista Anderson.
- We will fax or email you a set up confirmation giving you the closer's name and escrow number and fax you a receipt for the Earnest Money if we are holding it.
- We will order the title report if it has not already been ordered. If there is a lender involved we will touch bases with them and give them the escrow number and closer's name along with the title order number.
- We mail out a letter to the seller requesting information on any payoffs, homeowners associations, utility information and any other information pertinent to the sale.
- We mail out a copy of the title and our Escrow Instructions to the buyer and seller for their review.
- We clear any liens appearing on the title report.
- We keep in contact with all the parties to the transaction throughout the process and give updates by phone, fax or email when anything new happens.
- When the closing date approaches we review the file for any final items needed, such as inspections required, commission instructions and bills.
- If there is a lender involved we wait for the loan documents to arrive to schedule signing times or if it's a cash sale or seller financing, please contact us and let us know that all parties are ready to make appointments. when either of those happen, we prepare our escrow documents necessary to close that particular transaction. We are available for weekend, evening and off site signings.
- When there is a lender involved and all parties have signed, the whole package is returned to the lender for their review. When they are satisfied that all conditions have been met, they call us and advise us to record the documents and fund/disburse the file. If a cash sale or seller financing, the parties determine when the closing occurs.
- When the funds have been deposited with escrow by either the lender or purchaser and the documents have been recorded, we notify all the parties to the transaction that the file is closed. We cut the checks and send them to the appropriate parties. Commission checks and final settlement statements are delivered the same day. If it is a late recording, we deliver them the following morning.
- All the parties involved worked as a team and the end results are happy customers and more referrals.
Lakewood Escrow, Inc.
10524 Bridgeport Way SW
Lakewood, WA 98499
Phone 253.581.6346 253.581.1747 FAX
Dar's By Design
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