GPS Escrow


Buying or selling real estate is fun and exciting – and is a document intensive process. These documents are meant to protect and inform the parties. You will wind up receiving various disclosures, agreements and contracts throughout the course of the transaction. A few (in a “sample” version here) that you should expect are linked below for your review.


These are documents that we will present at the time of signing, but may be in a different format based on the new lender’s requirements. They represent only a portion of the documents you will sign at closing. If you have questions about these forms or would like to for them to be reviewed by your attorney, please contact our office or your loan officer.



documentSample Deed of Trust


A Basic Definition

The Deed of trust, which is sometimes called the “Deed” or the D.O.T., is the Lender’s security Instrument in your property. You own the home or land and are vested in title – and the lender has a well-secured lien against it. The lien protects The Promissory Note (your promise to pay the loan back). As a borrower, you agree to certain conditions and plans as stipulated in the loan documents, including the Deed of Trust. For Example…


Some Deed of Trust Key Elements

You intend to occupy the property at closing.

You will insure the property.

You will pay your property taxes.

You will be assessed a late fee if the payment is deemed late.

You have an equal and undividable interest with any other borrowers.

You will maintain the property.

You will have mortgage insurance, if required by the lender.

You will pay the loan off if you sell the property.

You know that all agreements you have made with the lender are in writing.


documentSample Promissory Note


A Basic Definition

The Promissory Note is just that: the borrower’s promise to pay. As a borrower, you promise to pay your lender back based on the terms of the loan.


Some Promissory Note Key Elements

Loan amount (also known as principle balance).

Interest rate.

Term of the loan. First and last payment due dates are listed (typically 30 years).

Right to repay. Stipulates if you can make extra principle payments without a penalty from the lender. (Usually, yes.)

Failure to pay on time. If you are more than 15 days past due, you will be assessed a late.

Secured by a “Security Instrument” such as a Deed of trust or Mortgage.


Contact us with any questions.