Home Selling in 92104>Question Details

 Andrew, Real Estate Pro in Miami, FL

Do I sign the Grant Deed at the beginning of escrow?

Asked by Andrew, Miami, FL Sun Sep 26, 2010

I am selling and received preliminary escrow paperwork, such as a Statement of Information, where to send proceeds, tax paperwork, etc. Included is the Grant Deed which looks like it passes the house to the buyer immediately, and is dated when we opened escrow. I'm also supposed to get it notarized. Close of Escrow is not for a couple of weeks. I feel like I shouldn't sign this now....could this be a scam?

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I am an Escrow Officer, and to me, it sounds like your escrow officer is only guilty of being very efficient. In my opinion, there is nothing wrong with signing the deed before a notary, sooner than later. Most escrow companies prefer that you go to their office and sign before their notary. Most Escrow Co.'s have been around and are very reputable and are insured and governed by the Department of Corporations or the Department of Real Estate. The Deed typically stays in your Escrow Officer's file until the buyer has signed loan documents. At which point, the escrow officer sends the grant deed and the buyers Deed of Trust to the title company via messenger in a timely manner so that way once the buyers lender has funded the loan and deposited their final funds, escrow instructs title to close: to record all of the documents the following day. I hope this helps!! My suggestion is to give the Escrow Officer a call and get to know them. Let them guide you along the journey, that is what they are there for! Good Luck!!
3 votes Thank Flag Link Mon Sep 27, 2010
I find it amazing that not a single agent here has ever seen a grant deed handled in this manner.

Frightening!

Great answer JO. TU
1 vote Thank Flag Link Tue Mar 5, 2013
my father did not sign his grant deed to transfer his property into his trust. He did though have it notarized. This is a grant deed with no signatures and is notarized. Does this mean that this deed is terminated and cannot ever be used again. Thank you
0 votes Thank Flag Link Thu Jan 21, 2016
who can get a Grant Deed from Public property or Bank REO property without actual escrow process,
with just notary public?
Can The lender, bank transfer the Title of property which is involved with government to a grant deed for selling another new owner?
0 votes Thank Flag Link Mon Mar 4, 2013
I'm not giving you legal advice, and you should speak with an attorney if you have concerns. The items you've received from the escrow company do sound like the normal items a seller would receive and need to complete when selling a home. The Grant Deed is used to transfer ownership from one party to the next and should reflect a date which coincides with your escrow closing date; it should go down for recording right at the end and closing of your escrow to establish the new owners as the new true owners of that property.

If you haven’t already, just ask your escrow company how it works and see if you are comfortable with what they are telling you; they should be more then happy to accommodate any questions you may have; especially since you are paying them for the service they provide.

Just remember that escrow works for both you and the buyer(s), and they are supposed to be a disinterested neutral third party carrying out the wishes of both you and the buyer(s).

I hope this helps you!
0 votes Thank Flag Link Mon Sep 27, 2010
The big question is...who is your escrow company? Be sure they are well established, well insured, and reputable. You have to sign...somewhere down the line, and it is not unusual to sign near the beginning, but you want to be able to trust your escrow company not to do anything with it until you are funded. Call other escrow firms and ask them about your escrow company. As your lender. Ask your Realtor, but get a second/third opinion.

good luck,
Joan Wilson (Realtor, SRES, Ecobroker, Certified REO, HAFA, and Short Sale Specialist)



Prudential California Realty
Direct Phone: 760-757-3468
800-975-7481 x 111
Fax: 760-946-7894
JoanWilson@prusd.com
License # 01341483


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http://JoanWilson.PrudentialCal.com
0 votes Thank Flag Link Mon Sep 27, 2010
I agree with the other answers Do Not Sign..please call the San Diego Association of Realtors for refererals for an attorney.
Escrow companaies in California are subject to the provisions of the Financial Code and the California Code of Regulations under the Business, Transportation and Housing Agency in the Department of Corporations. Call the Department of Corporations at 3700 Wilshire Blvd. #600, Los Angeles, CA 90010 or telephone them at (213) 736-2751.... find out if your escrow company is reputable.

Good Luck,
0 votes Thank Flag Link Mon Sep 27, 2010
Sign it when you get FUNDS! There are legal remedies you can dispose of in the face of fraud, but it is better to prevent than to rescind. And keep a weary eye out for swindlers as you already have!

If you are using an escrow company all the paperwork will be required to be signed before the transaction is complete. The buyer will either have a stack of cashier's checks or a stack of paperwork for their loan. If they have a loan, all signed papers will be sent to the lender and a FUNDING NUMBER will be given. Else, ask them about your recession rights, which will be around 3 days with no questions asked (depending on the type of transaction, location, etc.). Usually this number will be given within the first hour after sending. Sometimes as soon as 10 minutes. Usually both parties stick around to see if the deal gets complete.
0 votes Thank Flag Link Mon Sep 27, 2010
I think you mean "Rescission"
http://en.wikipedia.org/wiki/Rescission
Flag Thu Nov 6, 2014
Never sign anything you are not comfortable with. Especially a deed.
Contact a real estate attorney ASAP.
Paul Bojic is the best real estate attorney in California. His fees are very reasonable and he might save you a few hundred thousand dollars with a phone call! Call him.
0 votes Thank Flag Link Mon Sep 27, 2010
TruliaSeller,
I'm not an attorney or Escrow Professional, but I believe that until the deed is recorded, per your instructions, ownership remains with you. Contact the escrow company and your agent and confrim this prior to signing anything.
0 votes Thank Flag Link Sun Sep 26, 2010
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