Traveling During Escrow

Thu, 06/16/2016 - 3:08pm

If you are leaving town during your escrow, please address the following items so you can fully relax while away:​

• Seller sign in advance.

• Buyers and sellers leaving town should have their Attorney or Escrow Officer prepare a Power of Attorney specific to the transaction. If you have a Power of Attorney, submit it to the Title Company for review and approval. Buyers must provide a copy to Lender. If the buyer or seller chooses not to execute a Power of Attorney, the following information is required to be provided to the Escrow Officer:
     - The phone number and email address of the departing party.
     - The address where they will be staying during their travels.

• If traveling outside of the country, the buyer or seller should know where the nearest American Consulate is and the hours during which they can provide a notary. This information will need to be communicated to the Escrow Officer. 

• Keep in mind, not all Lenders are able to accept Docusign. Any documents required to be notarized must contain a wet signature.

• The Preliminary Report should be thoroughly reviewed prior to departure.

• If the buyer is the traveling party, they must secure a hazard/fire insurance company and provide that information to their Escrow Officer prior to leaving.

• The buyer should also have their funds available for wire transfer. 
     - It should be confirmed that the funds are originating from the same accounts that have already been verified by the Lender.
      - Funds are due 48 hours prior to recording.

For more information on how to avoid potentially costly delays during your travels, or if you have specific questions regarding your transaction, please contact your Escrow Officer.