Closing a Million-Dollar Escrow –
Closing a million-dollar escrow in Los Angeles involves several steps, and each one ensures the transaction is secure, legal, and complete. At Secured Trust Escrow, we guide clients through each stage of the closing process, making it as straightforward as possible.
1. Satisfying Contractual Terms: Before closing, all terms outlined in the purchase contract must be met. This includes inspections, property appraisals, repairs, and financing. Both the buyer and seller work to meet these requirements, while our team ensures every step is documented.
2. Final Document Review: The escrow company reviews all necessary documents, including the property deed, title documents, and financing paperwork, to ensure accuracy. Any outstanding issues must be resolved before proceeding.
3. Fund Collection and Verification: The buyer deposits the remaining purchase funds into the escrow account. At Secured Trust Escrow, we verify that all funds are secure and sufficient to cover the transaction, which protects both parties.
4. Document Signing: Both parties sign the closing documents, which include the deed, loan paperwork (if applicable), and other necessary forms. Our team oversees this process to ensure that signatures are correctly notarized and authenticated.
5. Title Transfer: After all funds and documents are verified, the escrow company authorizes the title transfer. The county records the new title, making the buyer the official owner.
6. Disbursement of Funds: Finally, the escrow company disburses funds to the seller and any other entities owed payment (e.g., real estate agents or lenders). Once this step is complete, the escrow is officially closed.
At Secured Trust Escrow, we handle each stage with precision, ensuring a secure and successful closing for high-value real estate transactions.
