Understanding the escrow closing process: What day does my escrow close?
In California, an escrow is “closed” on the day that the grant deed is recorded in the official records at the County Recorder’s office. The moment the grant deed is date-stamped by the county clerk is considered the moment that ownership of the property changes hands.
In California, it is important to realize that “closing” does not mean the day the buyer signs loan documents, and it does not mean the day the lender funds the mortgage loan.
Both of those events are essential parts of the process, and both of those events absolutely must occur before the grant deed is released to the county recorder for recording.
Need more information? Call Joe Elizondo of Northeast Financial at 323-256-7833 or email Joe at neast-financial @ sbcglobal.net.
September 10, 2009 | Filed Under Understanding the closing process | Leave a Comment