What is the difference between the signing date and the closing date?
The signing date is when the Buyer and Seller sign their final documents. This typically happens a few days prior to the closing date. The closing date is the day on which funding and recording take place.

Why does the escrow company sometimes call at the last minute to schedule the signing appointment?
In order to schedule the signing appointment, the escrow company must be in receipt of the lender’s loan documents and have time to prepare the final closing documents for signing. When loan documents arrive just prior to the scheduled closing date, signing appointments must be set quickly to ensure that the transaction will close on time. Unfortunately, Escrow does not have any control over when we receive the lender’s loan documents.

Can I sign documents on the closing date and still close that day?
Typically documents must be signed between 2-4 days prior to closing to coincide with most lenders’ review times. Some lenders are “Table Funders” and do not need to review the signed documents prior to funding the loan. In this instance, it is possible to sign documents the day of closing provided the signing is complete not later than 10:00 AM. This also requires that the Buyer’s funds due to close must be in the form of a wire transfer rather than a cashier’s check. Cashier’s checks must be into escrow 24 hours prior to closing.

How much time will I need for the signing appointment?
A typical signing appointment will last 30-60 minutes for a refinance, 1-2 hours for a buyer and 20-60 minutes for a seller. If you are closing a second mortgage or Home Equity Line of Credit at the same time, extra time should be allotted for signing of those documents as well.

What should I do if I must be out of town during the transaction or prior to closing?
Notify your loan officer and escrow officer as far in advance as possible of your expected absence. Arrangements can be made to facilitate the closing either through a Power of Attorney or by overnight delivery of documents to you for signature.

Please Note that when documents are sent overnight, this will involve additional costs to you, additional time, as well as the requirement that you locate a notary public to witness your signatures.
Advance notice is the key as your absence may result in a delay in the closing date if not addressed early.

From whom do I get the keys?
Washington State Law states that the delivery of keys is a matter of possession (which is stipulated on your Purchase and Sale Agreement), and therefore must be coordinated through your real estate agent.

Why is Escrow needed?
To provide a central deposit point for documents and monies and to provide a neutral party to be sure that the transaction is closed according to standard procedures and the written instructions of the parties.