short sale (ca) - california.wfgnationaltitle.com · some of the documents your escrow officer may...
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![Page 1: Short Sale (CA) - california.wfgnationaltitle.com · Some of the documents your escrow officer may request are as follows: • Written confirmation from the foreclosing lender that](https://reader034.vdocuments.us/reader034/viewer/2022042807/5f77ebe11c6e2271863a0ffa/html5/thumbnails/1.jpg)
Some of the documents your escrow officer may
request are as follows:
• Written confirmation from the foreclosing lender
that hey will accept a short sale
• Loan documents
• Tax statements
• Fire and other insurance policies
• Title insurance policies from WFG’s title department
• Terms of sale
• Requests for payment for various services to be
paid out of escrow funds
Your escrow officer will conduct many duties on
behalf of both the Buyer and the Seller and includes:
• Preparing escrow instructions
• Requesting a title search from WFG’s
customer service department
• Complying with lender’s requirements as
specified in the escrow agreement
• Receiving funds from the buyer
• Prorating insurance, tax, interest and other
payments according to instructions
• Recording deeds and other documents
as instructed
• Requesting a title insurance policy from WFG’s
customer service department
• Closing escrow when all instructions have been
met, as well as the requirements of existing lender
• Disbursing funds and finalizing instructions
Closing can only take place once instructions of the
completed escrow have taken place and all of the
outstanding payments and fees are collected and paid.
At this point title to the property is transferred and the
appropriated title insurance is issued as outlined in
the escrow instructions.
To finalize the sale of a property, a neutral third party like WFG Title Insurance Company is brought in to make
sure the transaction will close properly and on time. WFG insures that all terms and conditions of the seller’s
and buyer’s agreement are met prior to the sale being finalized. This including receiving funds and documents,
completing required forms, and obtaining the release documents for any loans or liens that may have been paid
off with the transaction, assuring clear title to the property before the purchase price is fully paid.
Provided by third party with no affiliation to WFG Title Ins Co. and at no cost to WFG Title Inc. Co.
WFG Title Ins. Co. makes no representation that any of the information is current or accurate and
does not endorse or otherwise accept responsibility for the information.
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