Frequently Asked Questions

General FAQ's 16

Yes.  We only offer mobile signings.   We do mobile signings at no extra charge if you sign in King/Snohomish/Pierce Counties

Yes. That is a decision Buyers, Sellers, Real Estate Agents and Loan Officers should make, we welcome all parties to the signing appointments.
A potential conflict of interest may exist whenever a title company provides escrow services, as they are likely to take care of their clients first. Keystone Escrow is a truly neutral third party without preferential ties to any banks or title companies.
The signing date is when the Buyer and Seller sign their final documents. This typically happens a few days prior to the closing date. The closing date is the day on which documents have recorded and funds are available to the seller as defined in the terms of the Purchase and Sales Agreement.
In order to schedule the signing appointment, the escrow company must be in receipt of the lender's loan documents and have time to prepare the final closing documents for signing. When loan documents arrive just prior to the scheduled closing date, signing appointments must be set quickly to ensure that the transaction will close on time. Unfortunately, Escrow does not have any control over when we receive the lender's loan documents.
If you are buying all cash or if your lender "Table Funds" which means they do not require a review period prior to funding the loan. In these instances, it is possible to sign documents the day of closing provided the signing is complete by 10:00 am. This also requires that the Buyer's funds due must be in the form of a wire rather than a cashier's check and escrow has received the funds by 10:00 am.
A typical Seller signing appointment will last 30 to 40 minutes. A typical Buyer signing appointment will last up to 60 minutes.  The lengths of signing appointments vary depending upon the complexity of the transaction.
Immediately notify your Real Estate Agent, Loan Officer and Escrow Officer. Arrangements can be made to facilitate the closing either through a Power of Attorney or by overnight delivery of documents to you for signature.PLEASE NOTE THAT WHEN DOCUMENTS ARE SENT OVERNIGHT THIS WILL INVOLVE ADDITIONAL COSTS TO YOU, ADDITIONAL TIME, AS WELL AS THE REQUIREMENT THAT YOU LOCATE A NOTARY PUBLIC TO WITNESS YOUR SIGNATURES.Advance notice is the key as your absence may result in a delay in the closing date if not addressed early.
Unless otherwise stated in the Purchase and Sales Agreement, the total escrow fee is split equally between the Buyer and Seller, with the exception of a VA transaction in which the Seller is required to pay the full fee.
Your Real Estate Agent will answer questions about the Purchase and Sale Agreement and any property related questions. Your Loan Officer will answer all questions about your loan status, the conditions of your loan and the loan process.  Keystone Escrow will help you with questions about signing and closing. We understand you will have questions and we welcome all questions and look forward to helping you in any way we can.
The Buyer and Seller must present identification in a form acceptable to the Notary Public. The identification must be current or have been issued within five (5) years. Common forms of acceptable identification include:
  • An Identification Card or Driver's License issued by the Washington State Department of Motor Vehicles
  • A passport issued by a foreign government
  • A passport issued by the Department of State of the United States
  • An identification card issued by any branch of the armed forces of the United States
You can help enormously by promptly responding to requests for information from all parties to the escrow. Buyers should keep in close contact with their Loan Officers to ensure their loan is being processed in a timely manner and all needed information has been provided.
An Escrow Agent must be licensed with the State of Washington, Department of Finance. To prepare documents an Escrow Officer must have a Limited Practice Officers License, which is issued by The Supreme Court of Washington State.
A Limited Practice Officer must have 10 continuing education hours each year to renew their license. Of those 10 hours 2 of them must be liability hours.
To provide a central deposit point for documents and monies and to provide a neutral party to be sure that the transaction is closed according to industry regulations.
After their lender's loan package arrives, more information is available.  Once signing appointments are set and the closing date is confirmed, Keystone Escrow will compute and prorate amounts. We'll give your clients a call with the amount needed to close.

Seller FAQ's 4

Typically your monthly statement only shows your principal balance. This is not a payoff balance. The payoff balance is equal to: current principal balance, plus daily accruing interest and any miscellaneous fees charged by the payoff lender - demand fees, fax fees, recording fees, etc. All payoff balances adjust daily due to a per diem (per day) interest accrual.
No. Sellers should continue making regular payments on any existing loans. As part of the escrow process, Keystone Escrow will order updated written payoff statements to ensure the proper payoff balances are paid at closing.
On the day of closing, when it has been confirmed that all funds are received and the transaction has recorded, your funds will be available. Typically, this does not occur until between 4 pm and 5 pm.  If you choose to have your funds wired into your account, they will show in your account the next business day.
The smoothest possible scenario is to have Keystone Escrow complete the closing for both transactions. By having our company close both, we can immediately credit your sale proceeds to your new purchase.

Buyer FAQ's 4

Per Washington State Law, any funds required for closing must be in the form of "collected funds," such as a Bank Wire or Cashier's Check drawn on a Washington State bank. Funds must be deposited into an escrow trust account ONE day prior to your actual closing date in the form of a cashier's check, or received via wire transfer by 10:00 am the morning of the actual closing date.
The escrow company must be in receipt of closing funds, in the form of a cashier's check payable to Keystone Escrow, by 2:00 pm one day prior to the anticipated closing date to ensure same day bank deposit. Closing funds in the form of a wire transfer can be received no latert than 10:00 am on the day of closing in order to ensure adequate time to record the closing documents. In an effort to avoid closing delays, funds should be received one to two days prior to the closing date.
Washington State law states that the delivery of keys is a matter of possession, and therefore must be coordinated through your Real Estate Agent.
The closing date is established by the parties and stated in the Purchase and Sales Agreement. Typically, the escrow will close 2-3 days after the Lender has received the signed loan documents.  During this time, the Lender reviews the documents, and the loan funding is scheduled. The Escrow Officer will work closely with the Lender to coordinate the scheduling of these final details.

Agents FAQ's 4

Yes. That is a decision Buyers, Sellers, Real Estate Agents and Loan Officers should make, we welcome all parties to the signing appointments.
Every transaction is different and there are variables that are beyond our direct control. Keystone Escrow will work diligently with all parties involved to insure a smooth and timely closing.
Clients can sign at our office. We can also arrange to meet with clients and sign their documents off-site and during off-hours if needed. However, signing papers in our office during standard business hours allows us to more easily and quickly address issues that may arise with your documents. Often the parties that we may need to contact are unavailable after hours.
Always complete the marital status for the buyer and seller Always have complete addresses, phone numbers, e-mail, for all parties Legible and complete Purchase and Sales Agreement Include any and all addendums in section '14 Addenda'