Information for escrow and title companies requesting figures for a sale or refinance.
A payoff demand provides the amount required to resolve an account being handled by Severaid & Glahn through a specified date.
Payoff demands are most commonly requested by an escrow or title company in connection with the sale or refinance of a property.
The demand will identify the amount due through the stated date and provide instructions for submitting payment.
Payoff demand requests may be submitted by email or fax.
To help avoid delays, please include:
Providing the anticipated closing date is particularly important because payoff demands are prepared through a specific date.
Please include your anticipated closing date with the request. Payoff demands are prepared through a specific date, and providing the closing date helps our office prepare figures that remain valid through the anticipated closing whenever possible.
Yes. A fee applies to preparation of a payoff demand.
Additional fees may apply for updated or expedited demands. The applicable fees depend on the account and the type of request.
Yes. Expedited processing is available for an additional fee.
An expedited demand is generally prepared within 48 hours.
If payment will not be received by the good-through date stated on the demand, updated payoff figures must be requested.
An additional fee applies to preparation of an updated demand.
When submitting a request, please specify whether the transaction is a sale or refinance.
Certain charges associated with a property transfer may apply to a sale that would not apply to a refinance. Providing this information allows our office to prepare the appropriate demand for the transaction.
Follow the payment instructions provided with the payoff demand.
For escrow and title transactions, the demand will provide the applicable payment instructions, including how the payment should be made and where it should be delivered.
A payoff demand from Severaid & Glahn addresses the amounts being handled by our office in connection with the lien-enforcement matter.
Other amounts or requirements relating to the property, transfer of title, or the Association may need to be addressed separately with the Association or its management company.
After the payoff funds are received, the account will go through our normal closing process.
If a lien has been recorded, our office will prepare and submit the appropriate lien release for recording with the County Recorder.
When the payoff was requested in connection with an escrow or title transaction, the recorded lien release is generally provided to the requesting escrow or title company.
Recording is not immediate, and County Recorder processing times may vary.
Please submit your written request by email or fax and include the property information, escrow number, sale or refinance, anticipated closing date, and whether expedited processing is requested.