Signings happen fast!
Thank you so much for staying flexible and available for signing to keep us on track for the closing date and thank you for trusting MVP Realty Group with your real estate transaction up to this point. The end is in sight!
Signing: Signing of documents needed to complete the buyer's loan and to transfer ownership from the seller to the buyer, usually a day or two before Closing.
Closing: Closing is the final step in executing a real estate transaction. The Closing Date is the date the sale is recorded with the County, officially transferring ownership to the Buyer.
Possession: When the buyer receives keys and full access to the property. This date is often the same as Closing but, in some cases, may be different. Possession officially occurs at 9 pm but could be sooner so confirm and make arrangements for keys with your broker.
ESCROW SIGNING TIPS
1. Closing Costs and Down Payments
If you are required to bring money for your down payment or closing costs, or if you are a seller that needs to bring money to the closing table, remember that it must be in the form of a cashier’s check or wire transfer. The Escrow Office cannot accept personal checks.
WIRE FRAUD IS ON THE RISE SO ONLY TRANSFER FUNDS VIA WIRE INSTRUCTIONS THAT YOU CONFIRM IS ACCURATE BY CALLING THE ESCROW COMPANY DIRECTLY. DO NOT TRUST EMAIL WIRE INSTRUCTIONS. Learn more about wire fraud.
2. Valid Picture ID at Signing
A valid picture ID, such as a State Driver’s License, is required for all persons who will sign documents (for Notary purposes). Some lenders require two forms of ID, so ask prior to your appointment. Other valid identifications would be a birth certificate, voter’s registration card, social security card, Medicare card, etc.
3. Signing vs. Closing
The day you sign your closing documents is NOT the day of Closing. Closing usually takes place 1-3 days after signing. After both the Buyer and Seller sign the documents, the Lender will review the information one last time for accuracy, and then wire the purchase funds to the Escrow Company. Once the Escrow Company has these funds, they will deliver the documents to be recorded with the county. After it has been recorded, ownership transfers.
4. Utilities Transfer
Don't forget to call and have your current utilities canceled and/or ordered. The Escrow Company does not transfer utilities.
5. Notify Service Providers
Be sure to notify the Post Office, your bank, credit card companies, insurance providers, phone carrier, Internet provider, security system company, friends and family members. Also, you have 10 days to update Dept of Licensing with your new address. You will also want to update your vehicle registrations, which can be completed online at www.dol.wa.gov.