Steps for Sellers

Starting on the Path

You are ready to open escrow. What is expected from the seller?
  • Contact information:
    • Address, phone(s) and email address
  • Preferred manner of communication:
    • Phone, email, regular mail, etc?
  • Mortgage information:
    • Name, address and loan number for each lender to whom you are making payments
    • Providing escrow with current mortgage statement(s) is helpful
  • Homeowners Association(s)?
    • Provide the name of the association and the management company for all applicable HOA’s
    • Provide the amount of the monthly dues
    • Advise escrow if payments are delinquent
  • Statement of Information:
    • You will be asked to complete a Statement of Information (click here for form)
  • Identification:
    • All seller’s will be requested to provide a valid government issued I.D. if notarial services are provided
  • Any unusual information?
    • Married but spouse not on title?  Quitclaim Deed may be required
    • Pending divorce?
    • Vacation(s) or business trips planned during duration of escrow?
    • Power of Attorney may be needed?
    • Purchasing another home and using funds from this sale, etc.
 

The Road Map

How can the seller help insure a smooth transaction?
  • Your realtor:
    • Your realtor will be assisting you with all required inspections including the home inspection, appraisal, pest inspection, any repair issues, etc.
    • Your realtor will insure that all contingencies are removed in a timely fashion
    • Your agent and/or escrow officer will be providing copies of inspections as necessary for your review
  • Homeowners Association?
    • Many HOA management companies require advance payments to provide copies of the governing documents.  Should this be applicable, escrow may request that you furnish a check for payment of these advance fees.  Any questions should be directed to your management company
  • Payments during escrow?
    • All mortgage and/or HOA payments should be kept current during escrow.
    • Should you be unable to maintain payments, notify escrow
    • Should a payment be due within a week of closing, contact escrow for further instructions
    • Payments of this kind may have an impact on the final settlement.
  • Property Taxes?
    • If your property taxes are paid by your mortgage company, any unused funds will be refunded to you by your mortgage company following closing
    • If a property tax payment is due while you are in escrow, contact escrow  for payment instructions

Communication

Pathway Escrow is "High Tech/High Touch"
  • You are encouraged to personally meet the escrow staff, become acquainted!
  • Required reports and/or documents are available via hard copy or email
  • Communication with escrow staff available via phone, email, or text.
 

You're Home!

Escrow is almost ready close. Now what?
  • Realtor:
    • Have all repairs requests been handled?
    • Are you prepared to turn over possession to the buyer per contract terms?
  • Homeowners Association?
    • If your property has common area keys, cards, transponders, etc., they may need to be turned into escrow prior to closing to avoid any unnecessary charges
  • Escrow:
    • You will be provided with a final estimated settlement statement, an authorization to close and any other documentation needed to complete the escrow file, please review carefully
    • If there are any revisions to the settlement statement, communicate with escrow
    • Have you given instructions to escrow regarding distribution of your proceeds?
    • If you are purchasing another home or property and would like all or a portion of your proceeds wired to that escrow, please communicate with escrow holder
    • Upon final verification of all escrow/contractual requirements, authorization will be given by escrow to “close escrow”, all parties will be notified when closing has been confirmed.
  • Escrow is closed, congratulations!   What now?
    • Upon final audit of your file, escrow will provide you with the final settlement statement and any necessary documents
    • Have you provided escrow with your forwarding address if applicable?
    • Communicate with escrow regarding the delivery method of this closing package (mail, pick-up, c/o agent, etc.)
    • Proceeds will be distributed per your instructions typically within one business day following closing
    • Your realtor will assist in the transfer of possession and keys (including mailbox key if applicable