Buyers Tips for a Successful Escrow Closing

Buyers Tips for a Successful Escrow Closing

  • When you receive your escrow opening document package, promptly sign and return the forms.
  • Tell your escrow officer if you plan to be out of town during the escrow period or if one party will sign documents using a Power of Attorney.
  • Let your escrow officer know if the escrow is part of a 1031 tax-deferred exchange and provide the name of the Qualified Intermediary, if any.
  • Be responsive to the requests of your agent, lender, and escrow officer. Remember, they are working together to close your escrow smoothly and on time.
  • Escrow will advise the Buyer(s) of the final amount of funds to wire to escrow. This amount will include a balance of down payment and total closing costs.
  • Please insure your money is deposited in an account where the bank can wire your funds to escrow within 48 hours prior to the close of escrow. Having closing funds readily accessible can avoid delays. If you are using funds from your 401K, or investments accounts please be sure that the company can send funds to escrow in the form of a bank wire and ACH transfers.
  • Good Communication is important! We welcome an opportunity to assist you, and are happy to direct you to the appropriate party to help you get the information you need.
  • Be sure inspections or repairs are ordered quickly. Coordinate this process with your agent and plan to make your property readily available for inspectors and appraisers that may be requested by the buyer or his agent.
  • Oakwood Escrow will NEVER email wire instructions for the file. If you receive wire instructions via email purporting to be from Oakwood Escrow, they are not Valid! Please contact your escrow officer immediately.

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Oakwood Escrow aims to make every transaction as simple, secure, and smooth as humanly possible. The easiest way to open an Escrow transaction with us is by using the form below, or contact us at (619) 430-4584.