Real Estate Exam [California] 32, Escrow and Closing Process

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The non-negotiable role of the neutral escrow holder and why it's crucial for the exam. - Why written escrow instructions are the ultimate authority in a transaction, superseding any verbal agreements. - How prorations for expenses like property taxes are calculated and appear as debits and credits on the closing statement. - The critical sequence of events at closing: lender funding followed by recording the deed to officially transfer title. - Common exam traps involving verbal requests, changing instructions, and the absolute conditions required for escrow to close.