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Trending with Debi: Traveling During Your Escrow

By on January 15, 2016
Now that the holidays have ended, some people are ready for some sunshine and off to enjoy a tropical destination…. You still can sell your home and travel too, but there are
some things that you need to be sure you have covered before you catch that plane.
If you are the Seller be sure you sign your Seller Documents in advance. Buyers and Sellers leaving town should have their Power of Attorney or Escrow Officer
prepare a Power of Attorney, submit it to the Title Company for review and approval.  Buyers must also provide a copy to their Lender. If the Buyer or the 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 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 (signing digitally by email).  Any documents required to be notarized, must contain a wet signature.
The Preliminary Tile 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 the recording of the transaction.
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.
This information was provided by Placer Title Co., Cori Whalen, El Dorado Hills Branch,
(916) 933-4550.
subscript to Lavish Living Magazine

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