How Do You Close Escrow In California?

I’m asked this all the time. Do you have to be there at closing if you’re buying or selling?  Do you have to sit at a closing table?

This question has been popping up often because I’ve had quite a few clients from out-of-area.  I’m going to really go out on a limb and say that I hope that means that everyone is doing better regarding employment and finances.  We can all hope, right?

So often out-of-area homebuyers ask if they have to be at the closing, and often they have a horrible story about a closing with attorneys arguing, angry sellers, took hours, etc.

Some states are attorney states and some are escrow states.

California is an escrow state and so we use a neutral third party to hold our money and “execute” the contract the way that it was written.  Fancy language to say that whatever is in the contract is obeyed.

So unlike an attorney state, there is no “closing table”.

Our closings are quite tame.  If you are the buyer, after everything has been done (inspections, appraisals, title search) then you are called by escrow to come in and sign your loan documents.  (This can also be done in your office or home.)

Once loan docs are signed, I generally calculate two days before you will receive the shiny new keys to your palace.

Why so long?

Well, once those loan documents are signed, they are sent back to the bank.  The bank may then have a question or two, will most likely review your credit, and give the ok to send over the money that you are borrowing.

The money comes in and title is recorded with the County Tax Assessor’s Office in your name.  Think of it like a scribe, your name is now filed and recorded as the official owner of your brand new castle.

So when you think of the “closing table”, no need to worry about hours of the dispute with the sellers at a table.  No need to worry that an attorney might hold it up or that it may take a few hours.  Be prepared to sign your loan documents, wait a few days, and be the proud new owner of a beautiful home!

FIND HOMES TO CLOSE ESCROW ON HERE!