Life of an Escrow: 23 Steps from Open to Close

Every real estate escrow follows a structured process with specific checkpoints. At Fidelity National Title, Team Goeglein oversees a 23-step escrow lifecycle that ensures nothing falls through the cracks. Here's what happens from the moment escrow is opened to the moment title insurance policies are issued.

Steps 1–5: Order is opened and escrow instructions are prepared with necessary documents and commission orders, forwarded to all parties for review and execution. Earnest money is accepted and receipted. Financing arrangements begin. The preliminary title report is ordered. The prelim is received and reviewed for existing and new liens.

Steps 6–10: Beneficiary statement is requested from existing lenders. The lender is provided with the preliminary report. Terms of transfer are reviewed. Loan documents and current payment status/restrictions are requested. Demands are requested for any existing liens that must be paid off.

Steps 11–15: Other liens are clarified and taxes reviewed — including proration of county, city, and district taxes, bonds, and special assessments. Termite reports, fire insurance information, and related documents are received if applicable. Signatures are requested on loan documents. Loan documents are returned to the lender and loan funds are requested. Demands are received and reviewed.

Steps 16–20: Loan funds are received from the lender. The entire file is reviewed to confirm all conditions have been met and all applicable documents are in hand. Closing figures are finalized and estimated closing statements prepared. Signatures are requested on all closing documents — every signature checked for accuracy, proper notarization, and correct vesting.

Steps 21–23: Documents are recorded at the county recorder's office. The file is closed, commission checks prepared and delivered, closing statements issued, and all funds disbursed to seller, agents, lenders, and other parties. Title insurance policies are issued — the buyer and lender are now officially insured by Fidelity National Title.

Tips for a successful escrow: Communicate every change to your escrow officer in writing. Understand fiscal tax year prorations, debits, credits, and closing costs. Ensure all closing funds are sent by cashier's check or wire. Double-check that vesting matches the client's request, all addendums are executed, and the notary acknowledgment is complete with signature and seal. Team Goeglein at Fidelity National Title manages every step across the South Bay and Westside LA.