Conditional Delivery (continued)

Towards the end of the escrow period, the buyer will be asked to sign a note and trust deed for the loan. The buyer is promising to pay back the money using the property as security for the loan. Escrow has not closed, and the buyer does not own the house yet. Nor has the seller been given the promised money, but the note and trust deed are signed and deposited into escrow, conditionally, until all other terms have been met. At that time money will be released by the lender to escrow.

What is a Complete Escrow ?

Properly drawn and executed escrow instructions become an enforceable contract. An escrow is termed as "complete" when all the terms of the instructions have been met.

After the escrow process has been completed, the buyer gets a grant deed, after it has been recorded, and the seller gets the money. The escrow closes shortly thereafter.

Eddy Martinez

Best Rate Funding - Direct Lender - Wholesale Rates

Senior Loan Consultant

Direct Line: 1-888-702-2225 x. 115

E- Fax :1-310-943-6551

bestrate Funding

"A business that makes nothing but money is a poor business. "
- Henry Ford