What does Allan Erdy Escrow do with my deposit check?
The check that you hand to the broker (who then sends it to us) or directly to Allan Erdy Escrow is deposited into our Trust Account the same day it is received.
Why must I complete a Statement of Information form?
The information is needed by the Title Insurance Company to enable them to eliminate those matters (judgments and liens) which may appear on the County records against persons having similar names.
What do I do about fire insurance?
You may obtain fire insurance from the agent of your choice. Discuss with your agent the coverages you want and have your agent contact us.
When will I know how much money is needed to close escrow?
The escrow holder will not have all of the figures necessary to calbulate the amount of funds due until they receive the loan documents from your lender. Upon receipt, you will receive a call advising you of the funds needed to close the escrow. An appointment will then be set up for you to sign the loan documents and deposit the balance of funds necessary to close escrow.
What type of check do I need to close escrow?
Funds delivered to Allan Erdy Escrow must be in the form of a Cashier's Check, Savings & Loan Check drawn from a California bank, or wired funds.
NOTE: Many Savings & Loans do their banking out of state, although they do business in California
If your funds will be coming from out of state, please make arrangements to have the funds wired to your escrow holder (Allan Erdy Escrow).
When does Allan Erdy Escrow need my money?
You will need to bring your funds with you when you sign your loan documents.
Do I have to come in the day my escrow closes?
Not at all. All necessary documents will have already been signed and funds already deposited into escrow.
Who do I get the keys from for the property?
Please contact your Real Estate Agent for this.
When do I get the Grant Deed to my property?
You will receive your Grant Deed in the mail directly from the County Recorder's office approximately four to eight weeks after the close of escrow.
When can I move into my new home?
You will need to coordinate this with your Real Estate Agent.
Does Allan Erdy Escrow have a notary service?
Yes! We will be happy to notarize any documents needed in connection with your escrow. Fyi...in order for you to have documents notarized, you will need to bring a current Driver's License or Current Passport with you.
NOTE: An appointment is always needed. Please contact your escrow officer to set up a time to meet. [See Contact]
If the property I am selling was held as investment property, do I need to be concerned with Internal Revenue Code Section 1031?
Yes. Please contact your CPA and/or Tax Attorney to see if this code section affects your transaction.
What is Allan Erdy Escrow's function as escrow holder?
Our responsibility is to act as a neutral third party and carry out the mutual written instructions of the Buyer and Seller.
Allan Erdy Escrow receives documents, lender's instructions, Title reports and act as a depository for money.
When we receive all documents required by written instruction, all written instructions have been complied with and all funds have been deposited into escrow, we will then "Close" the escrow and prepare the Closing Statements showing all disbursements and charges.
Buyer's FAQ's
